Burroughs and Chapin Company sells entertainment venues

A Myrtle Beach based company with a history of operating entertainment venues locally and in other tourism destinations, has sold six properties.  Burroughs and Chapin Company sold Myrtle Waves Water Park, and a collection of five NASCAR SpeedParks to PARC Management.  PARC made the announcement Friday, July 11 in a press release.  Myrtle Waves and one of the NASCAR parks are located in Myrtle Beach.  The other NASCAR SpeedPark properties are located in Sevierville, TN; Concord, NC; St. Louis, MO; and Vaughn, Ontario Canada. 

Randal H. Drew, CEO of PARC Management said, “Myrtle Waves is the largest water park in the Carolinas with a world-class array of rides and attractions and a community focused management philosophy similar to that of the other water parks we currently operate.”  “The synergy of operations between Myrtle Waves and the other PARC properties will help elevate the level of guest experience and profitability at each park.” 

As part of the acquisition, PARC Management now also carries the exclusive worldwide license for NASCAR SpeedParks.  Financial terms of the agreement were not disclosed.

“We’re delighted to see PARC Management come into the Myrtle Beach and NASCAR SpeedPark markets,” said Andy Tilmont, Chief Operating Officer for Burroughs & Chapin Company, Inc. “PARC is one of the top amusement operators in the country and we fully believe these parks will be a good fit with their other properties. This transition is consistent with B&C’s strategic plan of concentrating resources in a more selective manner.” 

In a short statement today, Diane Smith of LHWH Public Relations also said, “In conjunction with the purchase of Myrtle Waves and The NASCAR SpeedParks by PARC Management, as well as the current state of the economy,  B & C has announced necessary staff reductions.“  Smith shared no other details about what kinds of staff reductions the company made, or how many positions Burroughs and Chapin Company is cutting.

PARC Management, LLC, a leader in entertainment management, owns and operates theme parks, water parks, and other entertainment properties throughout the US.  Other PARC Management properties include Frontier City and White Water Bay, Darien Lake Theme Park Resort, Elitch Gardens, Wild Waves Theme Park, Waterworld California, Splashtown and Magic Springs & Crystal Falls.  For more information, visit http://www.parcmanagement.com