7:25am

Tue October 4, 2011
Business and the Economy

Lawmaker Hopeful About KY. Kingdom Reopening

A Kentucky lawmaker whose district includes the shuttered Kentucky Kingdom amusement park says he’s optimistic the state fair board will find an operator for the facility. State Representative Jim Wayne says he was surprised to hear that negotiations with developer Ed Hart to reopen the park fell through last week. Fair board president Harold Workman says the board was unable to come to an agreement with Hart on where certain revenue streams would be steered.

He says there are other companies that are interested in operating the park.

Rep.Wayne says lawmakers are willing to listen to any sound proposals seeking financial help in getting Kentucky Kingdom back up and running.

“We always have to look at these things as actual business proposals. So when someone like the people who might want to reopen Kentucky Kingdom come to Frankfort, they have to have a real solid business plan that shows they’re going to be profitable over a certain number of years,” Wayne told WFPL.

Ed Hart wanted the General Assembly to issue $20 million in bonds to help re-open the park in 2013. Hart had secured nearly $30 million in private funds.

Kentucky Kingdom has been closed since early last year, when its previous operator, Six Flags, filed for bankruptcy protection.