| Opening May 14, 2005 |
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| WILD RIVER COUNTRY WILL BE OPEN MAY 14th FOR ITS 21st SUMMER SEASON. A FINAL AGREEMENT WAS SIGNED TODAY WITH THE ARKANSAS DEPARTMENT OF FINANCE SETTLING A CLOSURE DISPUTE. A SPECIAL ONE-TIME “SEASON PASS SALE” WILL COMMENCE TODAY TO OFFSET SOME OF THE UNCERTAINTY AND MISUNDERSTANDING. ONLY 500 SEASON PASSES WILL BE SOLD AT THIS SPECIAL SALE PRICE ONLINE BEGINNING TODAY. LITTLE ROCK, AR January 26, 2005 For Immediate Release following Press Conference at Wild River Country 2:45pm Hugh Hall, the owner of Wild River Country, arrived yesterday in Arkansas to meet directly with the Arkansas Department of Finance & Administration. After a lengthy meeting an agreement was finalized and signed today and the state closure signs have been removed. The Wild River Country staff is now busy preparing for the upcoming summer season. “It is very unfortunate that a lack of communication led to Wild River Country being closed with a great deal of public fanfare at a time that it was closed anyway. Contrary to what was earlier reported, local legal advisors did request a hearing, but somehow that request did not end up in the correct hands. The actual physical closure with DFA staff accompanied by police came as a complete surprise to frightened and innocent staff and certainly to me,” said Hugh Hall. Hall has invested over $3.5 million in six new rides and attractions since the park was purchased in 1999. Annual attendance has grown during that period from 140,000 to 220,000. Wild River Country experienced its largest expansion year ever in 2003 with the addition of the $1.2 million Cyclone & Sidewinder water rides. Financing for these attractions did not come through as expected, and future major expansion plans are dependent on finding a new lending partnership. Wild River Country will be meeting with local political and business leaders in the coming months to see how a program of expansion and improvement can be implemented. “We recently learned that Magic Springs received low interest state guaranteed bonds and also have used a 100% sales tax credit to repay the interest and principal on those loans,” said Hall. “Unfortunately, we weren’t aware of these funding programs. The incentives and assistance offered to Magic Springs would have been an enormous benefit to us. Part of our negotiations with the state involved an effort to obtain equal treatment. State officials have assured us that we will be treated equally in terms of bonds and incentives going forward.” Phil Helms, General Manager, said, “Our customers who have already purchased 2005 season passes have been understandably concerned. We want to assure them and all of our customers that we are glad to put this behind us and are excited to move forward and prepare for our May 14th opening. Today, in an effort to get people talking again in a positive way, we have launched a special, limited quantity season pass sale. Only 500 will be available at this very special price starting today online but passes will remain on sale at regular sale prices right up until opening. We know that there are still many customers who will want to take advantage of early savings.” Wild River Country Annual Facts
Contact: Hugh M. Hall, Chief Executive Officer |