Paramount to open studio-themed park in Japan
Paramount Parks will open an 85-acre movie-themed park in Fukuoka, southwest Japan, in about six years, the company announced Thursday.
Based on the Paramount's archive of more than 3,000 film and television brands, the theme park will include five themed zones with
thrill rides, water attractions, children's attractions and multimedia and live entertainment shows.
The park is a joint venture between Paramount Parks, Japan Trade Inc., of Fukuoka, and its U.S. partner, Gateway Entertainment Group, of Beverly Hills, Calif.
Under the terms of agreement, Japan Trade, Gateway and other shareholders will form a Japanese holding company to fund the development and construction of the park. In exchange for service, design and consulting fees, Paramount Parks will have the option to acquire a minority interest in the holding company.
The park will be designed, constructed and managed jointly by Paramount Parks and the holding company.
"This is an exciting project for us as we expand the Paramount Parks brand and our operations into Asia," Paramount Parks president and CEO Alexander Weber Jr. said in a statement. "This agreement represents a great opportunity for paramount Parks, Japan Trade, Gateway Entertainment and the Fukuoka region in Japan. The project would certainly be one of the premier entertainment complexes in Asia."
The site will include an independent educational center for the advancement of entertainment arts and sciences in Asia, the companies announced. In addition, the companies will construct an on-site resort complex with three luxury hotels.
In a statement, Japan Trade president Kazunori Yamasaki said he would like to open the park in 2010.
Paramount Parks currently owns and operates five theme parks in North America, including Wonderland in Toronto; Carowinds in Charlotte, N.C.; Great America in Santa Clara, Calif.; Kings Dominion in Richmond, Va. and Kings Island in Cincinnati.
The Paramount deal, which would give Paramount Parks a major presence in Asia, comes at a time when development of a proposed Universal Studios' theme in Shanghai, China, is all but shut down. The Walt Disney Co., meanwhile, says it is on course to open a Disneyland park in Hong Kong at the end of 2005 or early 2006.
Based on the Paramount's archive of more than 3,000 film and television brands, the theme park will include five themed zones with
The park is a joint venture between Paramount Parks, Japan Trade Inc., of Fukuoka, and its U.S. partner, Gateway Entertainment Group, of Beverly Hills, Calif.
Under the terms of agreement, Japan Trade, Gateway and other shareholders will form a Japanese holding company to fund the development and construction of the park. In exchange for service, design and consulting fees, Paramount Parks will have the option to acquire a minority interest in the holding company.
The park will be designed, constructed and managed jointly by Paramount Parks and the holding company.
"This is an exciting project for us as we expand the Paramount Parks brand and our operations into Asia," Paramount Parks president and CEO Alexander Weber Jr. said in a statement. "This agreement represents a great opportunity for paramount Parks, Japan Trade, Gateway Entertainment and the Fukuoka region in Japan. The project would certainly be one of the premier entertainment complexes in Asia."
The site will include an independent educational center for the advancement of entertainment arts and sciences in Asia, the companies announced. In addition, the companies will construct an on-site resort complex with three luxury hotels.
In a statement, Japan Trade president Kazunori Yamasaki said he would like to open the park in 2010.
Paramount Parks currently owns and operates five theme parks in North America, including Wonderland in Toronto; Carowinds in Charlotte, N.C.; Great America in Santa Clara, Calif.; Kings Dominion in Richmond, Va. and Kings Island in Cincinnati.
The Paramount deal, which would give Paramount Parks a major presence in Asia, comes at a time when development of a proposed Universal Studios' theme in Shanghai, China, is all but shut down. The Walt Disney Co., meanwhile, says it is on course to open a Disneyland park in Hong Kong at the end of 2005 or early 2006.
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