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Six Flags CEO blasted over ‘day care for youngsters’ remark

Six Flags’ new CEO is going through a revolt from prospects and Wall Street analysts alike over his aggressive strikes to hike costs on the theme park — to not point out his snooty angle.

In a Thursday convention name, Chief Executive Selim Bassoul stated the company’s 27 parks had turn out to be “cheap day care centers for teenagers” and that worth hikes have been obligatory to draw extra prosperous households.

Bassoul, who was named CEO of the Arlington, Texas-based chain in November, added that he was aiming to draw the sorts of households who store at Target slightly than those that store at Walmart and Kmart.

Six Flags prospects vented their outrage on social media — with some name calling for Bassoul to be canned.

“After that call, I will not keep my membership.” one Reddit consumer fumed on Thursday. “You can have your now 7-11 park with nickel and dime strategies while ignoring how it looks. You are pricing out everyone except middle/upper.”

Six Flags is going through a buyer revolt after the company’s CEO dissed it’s prospects.
Six Flags Magic

“We cancelled our diamond elite passes today, based on how he views guests,” one other Reddit consumer wrote. “We won’t burden his company with [our] working class money anymore.”

Wall Street was equally alarmed by Bassoul’s strikes to take Six Flags upscale. Brett Andress, an analyst at KeyBanc Capital Markets, downgraded the company’s shares to the equal of a impartial ranking from purchase, calling the company’s newest monetary outcomes “indefensible.”

Selim Bassoul
CEO Selim Bassoul voiced a priority about “rowdy teenagers running around” the parks.
Takreem

“Management talks about taking more price increase, and our fear now is that…we’ve hit the limits of what consumers are willing to pay,” in keeping with the analysis notice. “We’re concerned this strategy is not gonna make it.”

Six Flags shares on Thursday plunged 18% to $21.12 after the company revealed attendance had dropped by almost 2 million, or 22%. On Friday, the shares have been not too long ago up 10% at $23.39.

Representatives for Six Flags didn’t instantly reply to requests for touch upon the backlash.

On Thursday’s convention name, Bassoul voiced a priority about “rowdy teenagers running around” the parks. Occasionally, the rowdiness has turned violent. Last month, a teen was arrested for aggravated assault of a police officer at Great Adventure in Jackson Township, NJ when he pushed a cop who’d been known as to the park due to reviews of a battle.

Image of fight at Six Flags in Maryland.
Last year, on the Six Flags in Prince George’s County, Md., a number of fights broke out within the car parking zone.
CBS News Baltimore

Nevertheless, most prospects took offense at the concept that the answer was to boost costs. One fan even posted a petition on Change.org to oust Bassoul from the helm of the company.

“There’s nothing wrong with being the budget park chain,” one other Reddit consumer wrote this week. “Carnival Cruises and Walmart do very well for themselves by filling that role. Dude needs to embrace it.” 

A mother and child in a swimming pool.
Six Flags needs to draw wealthier households to its 27 parks.

“I have been a Six Flags fan/customer/passholder for over 40 years … and it appears that Selim is really aiming to crash this company,” one other longtime buyer wrote.

“They priced out casual park goers and pissed off their members. Who is left?” added one other Reddit consumer.

Twitter was likewise brimming with indignation.

“The entire sentiment that people who don’t have tons of expendable cash shouldn’t be able to enjoy a fun day with their families at a theme park is disgusting,” tweeted @midwaymayhemfan on Thursday.

“It’s decided. I’m not visiting any six flags park until he’s out!” tweeted one other.

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