	bally bly considering sale of six flags bally manufacturing corp said it is considering the sale of its six flag theme amusement park unit and would use the proceeds to pay off debt in addition to the possible sale of the amusement parks bally plans to sell a minority stake in its health club chain to the public the company will register a proposed offering with the securities and exchange commission for to pct of the health clubs soon spokesman william peltier told reuters selling six flags is definitely under consideration peltier said in response to an inquiry he said the company would use much of the income from the amusement park chain were it to be sold to repay debt six flags might sell for as much as mln dlrs analysts said the health club chain the nation s largest is valued at to mln dlrs they said bally reportedly already has been approached about six flags by several prospective buyers the company needs the cash to begin paying back a mln dlrs mountain of debt bally recently completed a mln dlrs uisition of the golden nugget casino hotel in atlantic city from golden nugget inc gng n the purchase pushed its long term debt to billion dlrs or almost times its equity of mln dlrs bally s unit health and tennis clubs had revenues in of more than mln dlrs or about pct of bally s total revenues of billion dlrs bally uired six flags for mln dlrs in january from penn central corp bally bought the great america theme park in gurnee ill in may for mln dlrs from marriott corp mhs in the parks had pretax operating profit of mln dlrs on revenues of mln dlrs the clubs and equipment unit combined to post operating profit of mln dlrs on revenues of mln dlrs in of which mln came from the clubs the company earlier this month said it will take a charge to earnings in the first quarter of mln dlrs as a result of its deal to buy back mln of its common shares from real estate developer donald trump under a february deal bally agreed to buy the mln of the mln shares held by trump at dlrs a share or mln dlrs plus mln dlrs related expenses in exchange for trump not seeking control of the company for years the deal also requires bally to buy trump s remaining shares for dlrs a share if the stock price does not reach that level by february reuter 
