Leisure company eyeing Six Flags New Orleans

President and CEO of leisure company Southern Star Amusement, Danny Rogers, is eyeing the all-but-abandoned Six Flags New Orleans park for a take-over. Though this would not be the first time we've heard this from the same company.

Six Flags Inc. and the city of New Orleans have recently found themselves in somewhat of a scuffle over what the city perceives as the abandonment of the New Orleans park following the park's destruction in the wake of Hurricane Katrina in August 2005. City officials have filed a lawsuit against Six Flags Inc. claiming a breach of contract and a judge recently ruled that the suit will be heard.

To date, Six Flags Inc. has not mentioned any plans for the New Orleans park in any reorganization plans.

This, coupled with Six Flags Inc. recently filing for Chapter 11 Bankruptcy Protection lend to a shark-in-the-waters effect that Rogers just can't pass up. "This has put us in high gear to try to reach a deal with the city," Rogers tells The Times-Picayune.

According to The Times-Picayune, Rogers says he believes his company is the only "viable option" the city of New Orleans has to make the park profitable again. "We feel like we're the only immediate option," says Rogers.

In a court ruling, Six Flags is prohibited from removing any park assets from Six Flags New Orleans. City officials seem committed to bringing the park back to life, even if Six Flags Inc. isn't up to it: "We're prepared to do whatever is necessary to protect [the park's] interests, and more importantly to return the park to commerce," said Wayne James, the attorney working on the city's behalf in its suit against Six Flags Inc..

Lifthill will report further on this possible take-over as more information is made available.