Sad news from UP Michigan

[MaineSkiLady]

source: https://www.skiblackjack.com/
*************
November 14, 2008

Recent efforts to sell Blackjack Ski Resort have not been successful and are now terminated.

Accordingly, Blackjack management has decided to suspend operations for the coming ski season. Blackjack ski resort will be closed for the 2008-2009 ski season.

New marketing plans are being undertaken to find a buyer. Blackjack owners want to sell the business in its entirety. The Steiger family and Blackjack share holders wish to thank all the people…. from skiers and snowboarders, lodging guests, lodging owners, to employees, businesses, and local news media who supported us at every moment beginning with our opening day Dec 26, 1977.

We have had 31 ski seasons and we are grateful for all the people we have met and friendships we have made.

Blackjack
***************

I hope that a buyer for this very nice ski resort is eventually found. I have been there several times and enjoyed it immensely. Very sad - and a sign of the times? - that a buyer wasn't found in time to open it for the coming season.....:(

 

[SnowHot]

I've never been to blackjack, but it saddens me when a great place struggles like this.
:(

 

[Jilly]

I hope its not a "sign of the times". Just not finding the right buyer. We have many of the these kind of resorts in Ontario. Yah, they are not mountains, but boy can you have fun!

 

[MaineSkiLady]

It's located halfway between Indianhead and Powderhorn - probably a little closer to Powderhorn. I was there in their 2nd season and returned several times in subsequent years. I think I liked it better than Powderhorn. Dang. Just really sorry to hear this. Hope it gets purchased before it falls into disrepair......way sad. Have some great old pics from there...
I'm sure there are other Midwest divas who are familiar with it and possibly have been there as well...

 

[ski&bfree]

Ugh, I really hope that's not a sign of what's to come.........

Jilly's right, the hills around here are small but you can really enjoy yourself! It's what you make of it.

 

[Severine]

Hope it doesn't turn into what Powder Ridge has in CT. :( Not that ours was a great little hill, but i hate to see any of them go out of business. :(

 

[abc]

This is really a bad time to be selling anything that requires financing. The credit crunch probably really limits the buyer pool.

 

[Kiragirl]

I wonder if the owners have thought about an IPO ?

 

[volklgirl]

I had heard that Indianhead was buying it and adding it back into "Big Snow Country". I wonder what happened? Sad, sad news. Blackjack was by far our favorite up there and we have tons of great memories, including our first "real" Giant Slalom race (not Nastar). Booo.

 

[MaineSkiLady]

^^^ Bet it was a "lender" issue.....way big problem now, Indianhead may not have been able to secure the financing in time to turn the place over and get it ready. :( Or maybe they can't get the financing at all....for now....ouch, hard times. I feel the same as you do, as does DS - he passed his L2 at Blackjack (3/01). Truly nice place. Hope it doesn't just fall apart from sitting. :Cry:

 

[abc]

I wonder if the owners have thought about an IPO ?

Are you kidding? IPO in a recession market?

Let's see, your broker calls:

"Yeah, your portfolio is on average down about 30%. But I'm advising you to sell some of them at 30% lose, because I got this fantastic IPO that you absolutely should jump on"...

 

[MaineSkiLady]

Are you kidding? IPO in a recession market?

And this isn't and never was a particularly affluent (to say the least) region in the best of times, although it had a reasonable urban following...nonetheless, hard times befell the owners. Hope it can be turned over at some future point. Very nice skiing there. Nice lodge, too, as I recall (it's been years).

 

[SuperMoe]

Hi All Was just over skiing this weekend at Indianhead, pretty nice day. My daughter's and I each got to take a buddy, so it was fun times.

About Blackjack, the basic story is this. They've been trying to sell the place for a few years. Nothing to do with the current economics. They thought Indianhead was going to buy it, but apparently someone challenged them on the deal, claiming they had first "dibs" on it. Rather than fight/go to court, Indianhead said "fine, it's not worth it" and that was it.

Don't know what happened with the original people who laid claim on it though. So that's just a simple version of the story.