Tagged: Kentucky Kingdom

A group of four local investors led by businessman Ed Hart says it will invest $50 million without a state guarantee to reopen the Kentucky Kingdom amusement park.

Last week, businessman Ed Hart and his Kentucky Kingdom Redevelopment Company submitted his proposal to re-open Kentucky Kingdom—which he used to own. Today, he released the plan. Devin Katayama is covering the announcement and conducting interviews. In the meantime, the proposal and bullet points from the KKRC are below. 

The state is seeking proposals to operate the former Six Flags. Hart previously attempted to re-open the park shortly after it closed, but the deal fell apart. As did a subsequent proposal from the family that owns the Holiday World park in Indiana.

The amusement park Kentucky Kingdom has been closed for three years now, representing a significant loss of jobs and tourism revenue.  Attempts to revive the park have failed or been abandoned, and meanwhile the rides and equipment have largely been left to the elements and are not being maintained.

The Kentucky State Fair Board has approved its operating budget for fiscal 2013 that includes a projected deficit of more than $5.4 million.

Business First reports that the budget was approved during Thursday' monthly fair board meeting.

The budget forecasts a net income of more than 476-thousand dollars but also projects nearly $3.7 million in capital expenses and $2.3 million in construction expenses.