Six Flags Over Texas is a 212-acre (86 ha) amusement park, in Arlington, Texas, east of Fort Worth and west of Dallas. It is the first amusement park in the Six Flags chain, and features themed areas and attractions. The park opened on August 5, 1961, after a year of construction and an initial investment of US$10 million by real estate developer Angus G. Wynne Jr. The park is managed by the Six Flags Entertainment Corp., which owns a 54% interest of the Texas Limited Partnership that owns the park. Six Flags Over Texas Fund, Ltd., a private-equity and asset-management firm, headed by Dallas businessman Jack Knox, bought the park in 1969. Over the years, the various companies that managed the park exercised options to purchase interest in the fund. Six Flags Entertainment has an option to purchase the remaining 46% in 2028. In 1991, Time Warner Entertainment began managing park operations. In 1998, Time Warner sold its interests in the Six Flags parks to Premier Parks, of Oklahoma City, which later changed its name to Six Flags Theme Parks, Inc.