October 18, 2010 (Stevensville, MD) – While the past year has certainly provided challenges to businesses, the Ride Entertainment Group of Companies was prepared for such uncertainty and enjoyed continued growth in all of their divisions. “My long-term goal for the company was always for it to have several complementary disciplines, and it is great to see our entire product and service offerings continue to evolve,” said Ed Hiller, CEO of the Ride Entertainment Group.
As a way to showcase the many unique services they offer, the Ride Entertainment Group retained a prominent design firm to brand the company so that the industry understood the breadth of the products and services it offered. This resulted in a completely new branded-look for the companies which can be seen at their website www.rideentertainment.com. Hiller said, “As most people know, we began as Ride Entertainment Systems, the industry’s largest sales company. However, in the last ten years we have had organic growth that allowed us to purchase Skycoaster® and other companies, establish Entertainment Finance Group, which is now one of the leading equipment leasing companies in the industry, form partnerships with several major entertainment brands, and also established Entertainment Management Group, which specializes in after sales services, providing everything from turn-key installations to magnetic brake retrofits. All of these unique disciplines allow us to offer a portfolio difficult to match in our industry and a business model to operate successfully in diverse economic times.”
2011 will be an important one for one of the company’s product lines, Gerstlauer Amusement Rides. Adam Sandy, Senior Sales Associate, noted, “We have been working with Gerstlauer for 14 years and have had the pleasure of helping them grow into one of the most sought-after ride manufacturers in the industry. Next year we have one of their compact Euro-Fighters opening at Canobie Lake Park, and a large Euro-Fighter at Six Flags over Georgia. In addition, we were asked to design the trains for the new Texas Giant at Six Flags over Texas, which looks to be the year’s marquee roller coaster experience.”
Entertainment Finance Group is managed by Senior Sales Associate Mark Rosenzweig, who handles many of that division’s projects. He said, “Our portfolio is large and diversified, which is essential for our investors. With our track record, we can offer unique investment opportunities and demonstrate a consistent rate-of-return history. This year alone we opened a custom carousel in Canada, one of the largest ropes courses in North America, and a complete photo operation for one of the country’s largest non-profit institutions, just to name a few projects. This demonstrates our investment diversification and these attractions were all well-received by guests and excellent revenue generators for our partners.”
Bill Wright, Director of Technical Services for Entertainment Management Group, is pleased with the company’s continued expansion. “Every year we get busier,” he laughed. “This year we had projects happening almost all year long, which is our goal. From maintaining a roller coaster in Las Vegas to the installation of a roller coaster in China, it has been a busy year. Our largest project was the installation of the rides for the Thomas TownSM children’s area at Six Flags America. We worked with them to install rides in a well-designed family section of the park.”
Skycoaster®, continuously the most profitable upcharge attraction in the industry, is having another fantastic year. Mike Gutknecht, the company’s director, said, “Despite the economy, the ride has been a strong revenue generator for our partners. The experience is so unique and exciting that park guests always feel that it is worth the money.” The company will have its 17th annual safety seminar during the IAAPA Convention this year. “We enjoy having the seminar in conjunction with IAAPA,” said Gutknecht. “It is a great time to reconnect with our operators and having the meeting at the show adds value to the week.” Skycoaster’s® biggest announcement for the year is the sale of a new 180-single monopole model, which will open next year. “We can’t release where the ride will be opening just yet,” said Gutknecht, “but the structure was custom-designed for the park and we are really looking forward to seeing it up and running.”
Hiller said that the current workload is really a reflection of his team and the wide range of services that they now offer. “We have grown because we have great people, great products, and great services- it is just that simple,” he said. “The Ride Entertainment Group has transitioned into a full service entertainment company, which means that we have something to offer corporate clients, family-owned parks, even zoos and aquariums. I look forward to seeing where the future takes us.”