In the early 1960s a custom photography boat named Miss Cover Girl was introduced, and the park became a popular site for the filming of television commercials.

Busch continued to operate Cypress Gardens until April 1, 1995, when a group of the park's managers, led by Bill Reynolds, bought the property.

[7] Under President and CEO Reynolds, the park operated until April 13, 2003, when it closed after a prolonged tourism decline following the September 11, 2001, terrorist attacks.

In that transaction, the entire 150-acre (61 ha) site was purchased from its previous owner, First Gardens, L.C., by The Trust for Public Land, a national conservation organization.

In the film, a man delays telling his daughters that their mother has been killed in the Iraq War by taking them to "Enchanted Gardens", their favorite theme park.

[9] In September 2006, Adventure Parks Group filed for Chapter 11 bankruptcy protection at the Florida site citing approximately $30 million in damages sustained from the 2004 hurricanes.

Cypress Gardens and Splash Island began separate ticketing, with dual-park season passes also available; parking was free.

[12] On January 15, 2010, the world's second largest theme park and attraction operator Merlin Entertainments bought Cypress Gardens[13] with intent to use the site for the fifth Legoland.