Update on the Upcoming Dynamic Attractions Flying Theater at The Island in Pigeon Forge
Back in February, we shared some news about the upcoming Flying Theater attraction coming to The Island at Pigeon Forge. Thanks to our friends at Dynamic Attractions, we have several updates on the project, which is now scheduled to open in March of 2021.
- A long term operating agreement has been signed between Island Flyers LLC and High Express Holdings (US) Inc. for the development and operation of the co-venture flying theater attraction in The Island at Pigeon Forge, in the Smoky Mountains of Tennessee. The operating agreement requires an equal investment from each of the co-venture partners totaling US$4 million into the single purpose co-venture entity known as Smoky Mountain Flyers, LLC.
- Smoky Mountain Flyers, LLC closed an US$11 million debt financing with a Tennessee Bank which completes the financing required to bring the attraction to market.
- Dynamic Entertainment Group Ltd, a 74% owned subsidiary of Empire Industries, has entered into a pure option agreement with a term of 30 months to purchase all of the shares of High Express Holdings Inc. which is one of the two co-venture partners that owns 50% of Smoky Mountain Flyers, LLC.
- Smoky Mountain Flyers, LLC has contracted Dynamic Attractions Ltd., a wholly owned subsidiary of Empire, to provide a 39 seat, patented flying theater attraction.
The opening date of the Smoky Mountain Flying Theatre is scheduled for March 2021.
“We are very excited about the co-venture project in the Smoky Mountains region of Tennessee,” said Guy Nelson, Executive Chairman and Chief Executive Officer of Empire Industries. “The Island in Pigeon Forge has been ranked as the sixth most popular theme park in the United States. Island Flyers, LLC, the co-venture local partner, is an experienced attraction operator and their expertise dovetails perfectly with Dynamic’s provision of a world class attraction at this world-class site. The option agreement positions DEGL to step into an equal partnership role in the co-venture partnership at the appropriate time.
“This is the first exciting step for our new co-venture model – a model intended to provide Empire with long-term, stable, recurring revenue. We expect to execute on more partnerships with best-in-class tourist sites in the months and years ahead.”
“Empire’s Co-venture initiative is central to the company’s growth, so we have taken extra care in selecting our inaugural location and partner,” Nelson continued. “Our first Co-venture, Smoky Mountain Flyers, has all the ingredients for a successful attraction: an extremely popular location, an experienced attraction operations partner and a world class attraction to captivate the visitors to The Island in Tennessee.”
According to the February release, the new attraction will combine a state-of-the-art ride system and a custom film featuring some of the nation’s most beautiful natural wonders and iconic landmarks. Riders will get to experience the movements, sounds, scents, and mists of an adventure across the nation. The flying theater will be located adjacent to the Great Smoky Mountain Wheel, a 200-foot observation wheel, and The Island’s multi-million dollar show fountain.
The Island in Pigeon Forge is a 23-acre eat, shop, play, and stay entertainment destination offering affordable fun for families, night and day, with free parking and free admission. The Island is located in the foothills of the Great Smoky Mountains National Park, which draws over 11 million annual visitors. It’s also home to one of the 20+ roller coasters in the Smoky Mountain area.