Gulf Finance House Signs Exclusive Licensing Agreement with Six Flags
• Agreement brings Six Flags experience to the People’s Republic of China
Gulf Finance House, specialist conceiver of innovative economic infrastructure initiatives has today announced the signing of a one-year exclusivity agreement with Six Flags, the world’s largest regional theme park company. The new agreement is the latest venture from Gulf Finance House, designed to capitalize on the huge anticipated demand for investments in tourism within China.
China is rapidly becoming one of the top tourist destinations for travelers, and as the host for the 2008 Olympic Games this summer this is only set grow. According to the World Travel and Tourism Council’s 2006 Report on China, the country’s travel and tourism industry generated $353.7 billion in 2006 and is expected to grow to $1.3 trillion in 2016. Given GFH’s track record for identifying potential for above average growth and the delivery of high returns for its investors, coupled with Six Flags’ technical expertise, the initiative is well placed to deliver exciting results for the regional expansion of China’s tourism.
Gulf Finance Acting CEO Peter Panayiotou said today “we were proud to successfully facilitate the introduction of Six Flags to Dubai and are delighted to begin another partnership with Six Flags. The agreement will lead to the development of an exciting, one of a kind tourist destination in China that is set to draw travelers from all around the globe. Six Flags is recognized as a world leader in the entertainment and theme park industry. The experience and brand loyalty they bring to the partnership is unparalleled.
"This partnership underscores the potential of our one of a kind thrill park experience within China and the strength of our brand globally” said Mark Shapiro, President and CEO of Six Flags. “We’re delighted to be collaborating again with GFH to bring the Six Flags product to an entirely new audience”.
The People’s Republic of China Six Flags venture offers a ground-breaking opportunity for the GFH and Six Flags to create a new generation of park goers on a truly global stage. The project also offers the potential for the future collaboration of GFH and Six Flags to develop a Six Flags themed luxury resort.
About Gulf Finance House
Founded in 1999, Gulf Finance House has grown rapidly to become one of the most respected investment banks in the Middle East region in terms of the quality and innovation of its product offerings. Over an eight-year period Gulf Finance House has successfully launched economic infrastructure development projects and investments with an aggregate end value exceeding US$20 billion and received numerous awards for its innovative approach to Islamic banking and finance. Its shares are actively traded on the London Stock Exchange (GDR), the Kuwait Stock Exchange, the Bahrain Stock Exchange and the Dubai Financial Market. 2007 was the most successful year in the banks’ history, closing with a net profit of US$340 million, an increase of 61% compared to the previous year.
Reflecting its international reputation, Gulf Finance House has won numerous local and international awards, such as “Best Investment Bank” for three years in a row in 2005, 2006 and 2007, awarded by The Banker Middle East, “Bank of the Year 2006” awarded by the Arabian Business Magazine and “Best Islamic Real Estate Finance House” awarded by Euromoney.
About Six Flags, Inc:
Six Flags, Inc. is the world's largest regional theme park company with 21 parks across the United States, Mexico and Canada. Founded in 1961, Six Flags has provided world class entertainment for millions of families with cutting edge, record-shattering roller coasters and appointment programming with events like the popular Thursday and Sunday Night Concert Series. Now 47 years strong, Six Flags is recognized as the preeminent thrill innovator reaching all demographics – families, teens, tweens and thrill seekers alike – with themed attractions based on the Looney Tunes characters, the Justice League of America, skateboarding legend Tony Hawk, The Wiggles and Thomas the Tank Engine. Six Flags, Inc. is a publicly-traded corporation (NYSE:SIX) headquartered in New York City.
