Park News - (2/20/21) Screamscape sources have provided me with some new details regarding what is going on at Kentucky Kingdom. According to our sources Kentucky Kingdom’s Ed Hart has been in talks with Herschend Family Entertainment for months now, and many members of Herschend’s corporate team have been seen at the park since December, including Craig Ross, the former President of Dollywood who was promoted up into a new corporate spot to head up future growth opportunities for Herschend. In fact, we’ve heard that Craig Ross had an on-site office set up for him to work at Kentucky Kingdom back in early January.
From what I’ve been told the deal they have been working on since October 2020 would see Herschend come in to purchase a majority interest in Kentucky Kingdom, along with $7 million in capital funding into the park. Apparently the last few years have not been kind to Kentucky Kingdom on the financial side of things, and 2020 was just the icing on the cake that made a bad situation even worse.
In early January 2021 many senior members of the upper staff and management in the park were let go, along with the message that it was happening as part of the pending Herschend deal, though later on others who survived the culling claim to have been told the cuts came from Ed Hart’s direction and not as a directive from Herschend. Currently the deal is pending a required payment to the State Fair Board to cover the land-lease still owed from the 2020 season. I’ve also been told that the park has many other accounts still owed to various park vendors from the 2020 season that they have arranged to push those payments out to July 2021 due to lack of funds last year.
Apparently the deal was to be finalized and the lease-payment made, but as I was told from our source, at the 11th hour Ed Hart was not yet willing to sign off on the deal for an unknown reason, which resulted in the social media posts teasing the big announcement being deleted.
This is what we know as of today, and after months of work on the deal, I don’t think things would have fallen completely apart, so perhaps there are just some final tweaks and details that need to be worked out before it can be finalized and the announcement made. Otherwise, our source did not paint a bright picture for the future of the park if left to go it alone.