Six Flags bankruptcy won't delay Dubai project

Tatweer, a leisure development company owned by Dubai's ruler, told Reuters that the bankruptcy of its parter Six Flags will not delay the multi-billion project set to construct no fewer than seven theme parks in the Gulf Arab emerate.

Six Flags president Mark Shapiro last year announced plans to build a $300-million, 11-acre resort in in Qatar, located along the Persian Gulf. While there was news of the possibility of Six Flags Inc. planning to file for Chapter 11 Bankruptcy Protection, Shapiro made it clear the company would be going forward with plans for a park on the Persian Gulf. Now the company's commitment to this project has become less clear.

"The chapter 11 announcement from Six Flags has no impact on our theme park plans or their openings," Tatweer told Reuters. "We have nothing to add and will not make any announcement regarding our development plans in the context of Six Flag's financial restructuring."