American Heartland Collapses as Libertyland Is Scaled Back by Disney Alumni
Investor allegations of fraud sank one venture, highlighting the financing hurdles facing independent park developers.
Overview
- American Heartland, a proposed $2.5 billion resort in Vinita, Oklahoma, has effectively ended after investor Gene Bicknell filed a lawsuit alleging he was defrauded of more than $60 million.
- The suit names Richard Silanskas Jr., Stephen Hedrick, and Larry Wilhite, with claims that two defendants impersonated religious figures through electronic messages to secure funding.
- The American Heartland project's official website has been taken down, which recent reports describe as signaling the project's demise.
- Libertyland USA in South Dakota has been reduced from an envisioned 300-acre theme park to a 50-acre entertainment district designed for year-round viability.
- Libertyland plans retain an Americana theme with a hotel, with outdoor offerings limited to a 150-foot Ferris wheel, a carousel, go-karts, and mini golf, and leaders say they aim to break ground within six months.