Kentucky Kingdom Amusement Park was opened in 1987 by a Texas-based company and out-of-state investors. Promoted as a big park, it was in fact a small park geared to families with young children. Plagued by construction and start-up problems, the park closed after one short season. Local contractors and vendors went unpaid, and the park received a great deal of bad publicity.
In 1990, Ed Hart, a Louisville businessman with a reputation for turning around troubled projects, assembled a design and management team to reopen Kentucky Kingdom. Mr. Hart’s first step was to address the complaints of the 227 local unsecured creditors who were not paid by the original owners.
Mr. Hart’s team developed a comprehensive revitalization plan. The size of the park was doubled, many new attractions were added, existing buildings were refurbished and new ones constructed, the landscaping was expanded and beautified, and an entirely new business and marketing plan was executed to convert Kentucky Kingdom from an amusement park to a “thrill park.” In what would become a hallmark of Kentucky Kingdom, that year saw the addition of “Thunder Run,” a wooden roller coaster that was ranked by Amusement Business, the industry’s leading trade publication, as one of the most exciting roller coasters in the U.S. In subsequent years, Ed Hart’s team continued to add marquee attractions that caught the attention of local, regional, and national media.
Despite its slow start, the Kingdom responded well to its new positioning and things began to turn around quickly. From 1990 to 1998, the park’s attendance increased by almost 1 million visitors at an annualized rate of 33% per year, distinguishing Kentucky Kingdom as the fastest growing theme park in the country.
By 1997, Kentucky Kingdom was ranked as one of the top theme parks in the country. Premier Parks Inc., a national company with a growing portfolio, offered to buy Kentucky Kingdom. After much consideration, the offer was ultimately accepted and the park was sold for $81 million. As part of the sale agreement, Premier Parks was required to invest an additional $12 million in Kentucky Kingdom over the next two years, and to spend an additional $1 million per year on media. The local community embraced the new owners and everyone expected to see an even bigger and better Kentucky Kingdom.
Premier Parks continued its buying spree, acquiring all of the Six Flags theme parks and assuming the “Six Flags” name as its corporate brand. In 1998, Kentucky Kingdom became the first new Six Flags theme park in over 25 years.
Also in 1998, Kentucky Kingdom reached an attendance of over 1.3 million visitors, making it easily Kentucky’s number one paid family attraction and one of the top 20 best-attended theme parks in the country. Six Flags Kentucky Kingdom was positioned to become a “destination” theme park, much like Kings Island in Cincinnati or Opryland in Nashville.
However, once its contractual obligations to fund new attractions and maintain a significant marketing plan ended, Six Flags Kentucky Kingdom stopped adding major new attractions and making substantial capital improvements. As a result, Kentucky Kingdom’s attendance began to decline, dropping by 500,000 visitors from 1998 to 2005.
With Six Flags’ performance (and stock price) continuing to decline, several top management officials were removed in a stockholder showdown toward the end of 2005. Under new absentee owners, the park’s attendance continued to decline, dropping by more than 35% between 2005 and 2009. The Six Flags management team was unable to operate the chain successfully, particularly under the heavy debt load it inherited, and the company was forced to file for bankruptcy in 2008. The company ceased operating Kentucky Kingdom at the end of the 2009 season. In 2010, the company emerged from bankruptcy. Of the 14 parks owned by Six Flags, Kentucky Kingdom was the only park closed.
During the Six Flags years, the park had lost six of its marquee attractions. The steel roller coaster (“Vampire”), the giant drop ride (“Superman – Tower of Power”) and the world-class, stand-up, steel roller coaster (“Chang”) were dismantled and moved out of the park altogether and both the giant spill ride (“Mile High Falls”) and the two wooden roller coasters (“Twisted Twins”) were shuttered.
An earlier period in Kentucky Kingdom’s history provides a stark contrast and an informative comparison. Between 1994 and 1999, seven marquee rides were added to Kentucky Kingdom’s line-up. As a result, attendance during those years increased by 892,000. Those seven marquee rides were:
1994: The giant spill ride called “Mile High Falls” (which Six Flags closed in 2008);
1995: The suspended looping coaster called “T2;”
1995: The giant drop ride called “Hellevator” (which Six Flags changed to Superman – Tower of Power and removed in 2007);
1997: The stand-up steel coaster, “Chang,” the tallest of its kind in the world when it was introduced (which Six Flags removed in 2009);
1998: The “Twisted Twins” wooden roller coaster, consisting of two separate but intertwined roller coasters (which Six Flags closed in 2008); and
1999: The rapid river ride called “Blizzard River.”
In contrast, between 2000 and 2009, when Six Flags operated the park, only three attractions of any significance were introduced: a 30-year-old, used steel roller coaster (“Greezed Lightnin’”) in 2003, a giant funnel water ride (“Tornado”) in 2005, and another water ride (“Deluge”) in 2007. This all adds up to the addition of three new rides, but a loss of eleven other rides, most of which were marquee attractions that were the focus of the park’s advertising campaign in the year each was introduced.
Currently, the Kentucky Kingdom Redevelopment Company, under the leadership of Hart, has entered into an agreement with the Kentucky State Fair Board, Kentucky Kingdom’s current owners, to develop a revitalization and ongoing business plan for the reopening of the park. That process is underway and as it progresses so will the history of one of the Louisville community’s most valuable assets.
