Six Flags Entertainment announced the sale of seven of its amusement parks to EPR Properties of Kansas City, Missouri. The transaction is six flags amusement park The plan is to focus more on the strongest performing campuses and improve their financial health.
according to Wide RGBthese parks will be sold for $331 million in cash, with specific prices subject to standard adjustments. Six Flags said the sale will help strengthen the company’s financial position and reduce debt.
“We understand how meaningful these parks are to the communities they serve and to the guests who grew up visiting these parks. Our teams at these locations have created countless memories and are an important part of the Six Flags family.” six flags amusement park written in a statement on its website.
“We are confident in the future of these parks under the management of EPR and its operating partners, who have extensive experience managing parks of this size. At the same time, this decision allows Six Flags to invest more deeply in parks with the greatest opportunities for growth and innovation.”
The parks included in this sale include:
- valley fair– Minneapolis, Minnesota
- happy world– Kansas City, Missouri
- michigan adventure-Grand Rapids, Michigan
- Schlitterbahn Waterpark Galveston– Galveston, Texas
- Six Flags St. Louis– St. Louis, Missouri
- six flags great escape-Queensbury, NY
- Six Flags Lalonde– Montreal, Quebec
In total, the parks will receive approximately 4.5 million visitors in 2025, generating approximately $260 million in revenue and $45 million in Adjusted EBITDA.
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What’s the reason for selling?
Six Flags will use the proceeds from the sale, after taxes and costs, primarily to pay down debt, Business Wire reported. The company said this is expected to slightly improve its financial stability.
President and CEO John Reilly said the sale is part of the company’s plan to focus on parks with the greatest growth potential,
“Since joining the company, it has been clear to me that Six Flags’ profitability has not been fully realized. This transaction will simplify our portfolio, strengthen our balance sheet and allow us to execute with greater clarity and discipline.”
“We know how much these parks mean to our guests and the incredible teams that bring them to life every day… We are confident these parks will be well managed by EPR and its partners…” Reilly added.
