Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Joe Stauff - CRT Capital
Joe Stauff - CRT Capital
Can you remind me just generally when the parks are officially opened to the public? I heard your remarks regarding sponsorship revenue and I understand that, with respect to the historical contracts that you have with certain sponsors, of the $59 million that you booked last year is there a certain percentage of that that reoccurs this year regardless given the contract length?
Mark Shapiro
Generally our full time operating season as you know is Memorial Day to Labor Day. We have about five parks that are open now, generally just on weekends and of course Spring Break periods. The way you can look at it is Magic Mountain is pretty much a year round operational, although in the off months, the winter months, and its weekends only.
Mexico is pretty much a year round operation as well. In San Antonio, Dallas, and San Francisco are open now, again just on weekends and we opened them earlier this year trying to take advantage of some expected or hopeful good weather. Then also we have Six Flags over Georgia. Basically the parks start opening in early March on the weekends. That continues gradually into the spring.
For example at the beginning of April that’s when Great Adventure in New Jersey opens up. That’s when Six Flags New England opens up. Again, they’re open on the weekends up until for the most part Memorial Day. We do a lot of group outings, we do a lot of school days up till them but full time is Memorial Day till Labor Day. Then September goes weekends and then October of course is weekends for Fright Fest.
Regarding your other question, yes there’s a lot of business that is recurring, a ton of business. As we stated before some sponsorship deals are one year tests, some are three years, the biggest one we have a few of them are five year deals. The term and the length and the deliverables vary deal by deal. You walk into a year usually down a few million on ones that are up for renewal or expiring. You try and renew then and then go out and get new business.
Operator
Your next question comes from John Brecker – Longacre Management
John Brecker – Longacre Management
Can you give us an idea of the timing of the refinancing? Secondly, talk about your marketing strategy in regards to refinancing and how you’re going to convince your customers that the parks are safe and that everything’s the same. How do you expect to express that message?
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