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| Palace Entertainment - (8/28/07) Palace Entertainment, the largest chain of FECs, small parks and waterpark locations (33 locations total including Raging Waters, Wet ‘n Wild and Boomers) in the US, has announced that they are being sold to Parques Reunidos in a deal worth $330 million. Parques Reunidos, a European attraction operator, currently owns 28 attractions spread over 8 countries, including Parque de Atracciones, the massive Parque Warner Madrid (formerly WB MovieWorld) in Spain, Bobbejaanland (Belgium) and Mirabilandia (Italy). It should be interesting seeing how the European operator fares in the American marketplace, as many international crossovers in the amusement sector over the past decade have just not worked out as planned. Examples of such failures include the European expansion of Six Flags, Vivendi’s ownership of Universal Studios and obviously we’ve seen how even Disney has struggled over the years with their international efforts in Paris and Hong Kong. |