This tale has been up to date to specify that John Reilly is the main operating officer of Palace Enjoyment.

Following a long time of loved ones possession, Adventureland amusement park is staying sold. 

On Tuesday, Pittsburgh-based Palace Enjoyment introduced it was purchasing the Altoona theme park. Nick Paradise, a spokesman for Palace, mentioned the offer would be concluded Tuesday.

Des Moines businessman Jack Krantz opened Adventureland in 1974. For the 1st nine several years, it was a publicly-traded corporation. Then in 1983, Jack Krantz purchased out other buyers to avert the park from staying offered to a group from Chicago.

Just after he died in 2006, his 4 kids took more than working the park.

Michael Krantz, son of the Adventureland founder and CEO of the loved ones business, reported he thinks his father would approve of the sale to Palace.

“For pretty much fifty years, our spouse and children has labored hard to provide excellent times to persons of all ages who arrive to the park to create lifestyle-extended recollections,” he said in a statement. “Palace desires to carry these traditions ahead so foreseeable future generations can do the identical. That would make our father unbelievably satisfied.”

How a lot did Palace Entertainment fork out to buy Adventureland? 

Visitors arrive at the Adventureland Park amusement park Tuesday, July 6, 2021, in Altoona, Iowa

Palace Entertainment did not disclose a buy value. The Altoona park, resort, campground and waterpark are valued at $21 million for tax uses, according to Polk County assets data.

Who owns Palace Enjoyment?

Palace Enjoyment is primarily based in Pittsburgh and is a subsidiary of global theme park operator Parques Reunidos in Madrid, Spain.

How quite a few parks does Palace Amusement very own?

Palace owns parks that incorporate Pennsylvania’s Kennywood, Noah’s Ark Waterpark in the Wisconsin Dells, Castle Park in Riverside, California, and Sea Existence Park Hawaii in Oahu. It also owns Raging Waters – Sydney in Australia.

By Indana