Six Flags Sells Seven Parks, Including One in Upstate New York

Six Flags announced the sale of seven amusement parks, including a notable location in Upstate New York. The transaction, valued at $342 million, was made with EPR Properties. This strategic move aims to simplify operations and reduce the company’s debt.

Details of the Sale

• Parks Included in the Sale:
  • Six Flags Great Escape (Queensbury, New York)
  • Michigan’s Adventure (Muskegon, Michigan)
  • Schlitterbahn Waterpark Galveston (Texas)
  • Six Flags La Ronde (Montreal, Quebec)
  • Six Flags St. Louis (Missouri)
  • Valleyfair (Minneapolis, Minnesota)
  • Worlds of Fun (Kansas City, Missouri)
• Total Acreage: Over 1,600 acres
• Attractions Available: 418 rides and attractions
• Annual Visitors: Approximately 4.5 million

All seven parks will remain operational through the 2026 season. EPR Properties will retain the right to utilize the Six Flags brand during the transition, maintaining existing names and experiences.

Company Statements

John Reilly, President and CEO of Six Flags, emphasized that divesting these parks will allow the company to refocus its resources on properties that yield better returns. He noted, “Since joining the company, I have been clear that Six Flags’ earnings power has been under-realized.”

The sale reflects a broader strategy as Six Flags reassesses its portfolio. Reports from earlier indicated that the company was considering the sale or rebranding of underperforming assets.

Financial Aspects of the Deal

• Transaction Value: $342 million
• EPR’s Contribution: Approximately $315 million
• Operators Involved:
  • Six U.S. parks will be leased to Enchanted Parks
  • The Canadian park will be leased to La Ronde Operations, Inc.

Gregory K. Silvers, CEO of EPR Properties, commented on the acquisition, highlighting its potential to enhance their portfolio with quality attractions in established markets. He recognized the properties’ ability to generate stable cash flows and their significant land value.

This transaction marks EPR Properties’ most substantial acquisition since 2017 and showcases the ongoing evolution in the amusement park industry. Through this divestiture, Six Flags aims to strengthen its operational focus, streamline its portfolio, and better serve its long-term strategic goals.