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Maryland Tierco Inc history
Maryland Tierco Inc company history timeline
The acquisition was considered second in industry importance only to the opening of Disneyland in 1955, an event that redefined the future of the amusement park industry.
1958: The Frontier City theme park opens in Oklahoma City.
1961: Angus Wynne and partners open Six Flags Over Texas.
1963: Six Flags Over Texas unveils the world's first log flume ride.
1966: Operation of the first-ever steel roller coaster begins at Six Flags Over Texas; Wynne sells his amusement park to Penn Central Corp.
1967: Six Flags expands by opening a new park in Atlanta, Six Flags Over Georgia.
1982: Tierco acquires Frontier City; Penn Central sells the Six Flags chain to Bally Manufacturing Corporation.
1984: Gary Story is hired as general manager of Frontier City and soon quadruples the park's attendance and revenues; Six Flags Great America opens near Chicago; Six Flags Corporation acquires theme park rights to Warner Bros. animated characters.
1987: Wesray Capital Corporation buys Six Flags Corporation in a leveraged buyout.
1989: Kieran E. Burke is hired as president and CEO of Tierco and leads shift from real estate to amusement parks.
1990: Time Warner Inc. acquires 19.5 percent stake in Six Flags Corporation.
1991: Six Flags changes owners again--Time Warner increases its stake to 50 percent and two New York investment firms, the Blackstone Group and Wertheim Schroder & Company, acquire the other 50 percent.
Tierco purchased Oklahoma City's White Water waterpark in 1991 (the name later being changed to White Water Bay). The company realized the key to boosting a park's attendance was to add new and exciting rides and make it more attractive to families.
Tierco acquired the financially troubled Wild World in Largo, Maryland, in 1992 and later changed that park's name to Adventure World.
In 1994, he was promoted again to president and chief operating officer (COO).
Since Tierco was on its way to becoming a "premier" regional theme park operator, in 1994 it changed its name to Premier Parks, Inc.
The company acquired the following three parks in 1995 from Funtime Parks, Inc.: Geauga Lake in Cleveland, Ohio; Wyandot Lake in Columbus, Ohio; and Darien Lake, near Buffalo, New York.
Premier went public in 1996 and raised nearly $70 million through an initial offering at $18 a share.
Premier's attendance base was nearly 40 million in 1997--Disney's was 86 million.
Premier stock ended 1998 with a 49 percent gain.
1999: Adventure World is rebranded Six Flags America; Premier acquires its first Mexican theme park, Reino Adventura, which is renamed Six Flags Mexico, as well as Warner Bros.
The scope of the overall expansion is nothing short of spectacular," Burke commented in a 1999 press release.
In 1999, Premier announced that it was going to invest $200 million in improvements for its 25 domestic parks.
2000: Geauga Lake park is renamed Six Flags Ohio, Riverside Park is transformed into Six Flags New England, and Walibi Flevo becomes Six Flags Holland; Premier Parks changes its name to Six Flags, Inc.
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