Tuesday, July 15, 2008

What's Up With Wet Las Vegas

After my recent trip to Vegas, I began to wonder whatever happened to the Las Vegas Wet project that is supposed to be built. If you are not familiar, it is to include the largest indoor water park around, several hotels, a large indoor skiing facility, an outdoor theme park, tons of retail and food, and more.

I was wondering about the project's status because I noticed on this recent trip the number of families that are still visiting with children, and how the city has reverted back to really being only for adults.

Well, Last Vegas Wet certainly would give those families stuff to do together again, so I was happy today when I googled the project and found that a press release had just been issued an hour before.

Though no construction is underway, the project is still said to be moving forward. Wet Holdings, the company behind the project is now saying that they are looking to take on strategic mergers and acquisitions in the theme park industry that would allow market capital to grow, and provide a positive cash flow for the operation.

To me, that reads as they don't have the cash to start the project alone so are looking to expand in other ways in the meantime. They say they have made some offers to "very visible brands" in the theme park industry, so perhaps they'll end up with a Six Flags or Cedar Fair clunker, lord knows both companies need the cash.

It's an interesting direction for them to move in, I can't wait to see what they purchase. They should have tried to get Star Trek the Experience...


arw819 said...

I read their press release and they say they have over a billion dollars, so they could buy a few companies, but who? Six Flags is almost bankrupt.