Six Flags sells off 7 theme parks in $331 million move to cut debt

Core Viewpoint - Six Flags Entertainment is divesting seven amusement parks in the US and Canada to EPR Properties for approximately $331 million, allowing the company to focus on properties with stronger returns and long-term potential [1][2]. Group 1: Transaction Details - The parks being sold include Michigan's Adventure, Schlitterbahn Waterpark Galveston, Six Flags Great Escape, Six Flags La Ronde, Six Flags St. Louis, Valleyfair, and Worlds of Fun [1]. - The deal is expected to close by the end of Q1 or the beginning of Q2 in 2026 [4]. - The seven parks collectively hosted about 4.5 million guests last year, generating approximately $260 million in net revenue [4]. Group 2: Strategic Implications - The divestiture aligns with Six Flags' strategy to concentrate capital and operational focus on higher-performing properties [2]. - EPR Properties plans to partner with Enchanted Parks to manage the six US parks, while La Ronde Operations will oversee the Canadian park [2]. - Cash proceeds from the sale will be utilized to pay down the company's debt [4][6]. Group 3: Operational Continuity - The parks will continue to operate on their regular schedule, and all season passes sold will be honored through the 2026 operating season [3]. - Six Flags will maintain operations at 34 parks across 23 locations in North America for the 2026 season [3]. Group 4: EPR Properties' Perspective - EPR Properties views this acquisition as an opportunity to enhance its portfolio with high-quality experiential real estate assets in established regional markets [5].