Hurricane Katrina wrecked the park and it now lies abandoned. The owners claim the park must remain shut down as long as outstanding claims with insurance companies remain unsettled.
As of early 2010, the site is overgrown with debris and weeds. Removal of the debris and underbrush has now begun.
On August 18, 2009, it was announced that the land would be re-developed into a Nickelodeon-branded water/theme park.
On September 18, 2009, the city of New Orleans fined Six Flags $3 million and ordered the park to vacate its lease.