| Six Flags Entertainment Corporation | |
| Type: | Public |
| Industry: | Theme parks |
| Location: | Charlotte, U.S. |
| Num Locations: | 42 |
| Key People: | Richard Zimmerman (president & CEO) Selim Bassoul (chairman) |
| Num Employees: | 1,450 full-time; 40,000 seasonal (2022) [1] |
Six Flags Entertainment Corporation, or simply Six Flags, is an American amusement park corporation headquartered in Charlotte, North Carolina, United States. It was formed on July 2, 2024, following a merger between longtime rivals Cedar Fair and the former Six Flags company. The combined company owns and operates 51 properties throughout North America, including amusement parks, water parks, and resorts.
See main article: article and Six Flags (1961–2024). Six Flags Theme Parks originated in 1957 with the creation of The Great Southwest Corporation by Angus G. Wynne and other investors, who would go on to open the chain's original park, Six Flags Over Texas, in August 1961. After the Pennsylvania Railroad gained a controlling stake in the company's shares, a handful of new park were constructed and multiple independent parks purchased over the following two decades. Following the acquisition of Marriott Corporation's Great America theme park in 1984, Six Flags acquired the rights to feature Warner Bros.' Looney Tunes animated characters at their properties; Time Warner subsequently purchased much of the company and was its sole owner from 1993 to 1995. Six Flags Theme Parks, Inc. was later bought out by Premier Parks – an Oklahoma-based real estate firm and theme park chain – on April 1, 1998, for $1.86 billion.[2] Premier began to apply the Six Flags name to several of their existing properties in North America and Europe, eventually fully assuming the brand name in 2000.
Throughout the 2000's, Six Flags began to suffer from growing debt and organizational bloat, eventually first resorting to selling off its European parks in 2004. Some of the company's largest investors grew frustrated with Six Flags and demanded change; Daniel Snyder's Red Zone, LLC successfully gained control of Six Flags' board of directors in 2005 by means of a proxy battle. New management continued to sell off various American amusement park locations throughout 2006-2007, although their cash flow continued to decrease, falling $120 million annually under Red Zone's board. Weighed down by the financial crisis of 2007–2008 and the New York Stock Exchange's decision to delist their stock, Six Flags filed for Chapter 11 bankruptcy protection in 2009 but continued to operate the parks as normal. Six Flags re-emerged as Six Flags Entertainment Corp. on May 3, 2010, moving head offices from New York City to Grand Prairie, Texas and allowing lenders to control 92% of the company in exchange for canceling $1.13 billion in debt.[3]
Jim Reid-Anderson was instated as chairman, president and chief executive officer (CEO) on August 13, 2010 and succeeded by Mike Spanos in late 2019. New initiatives were launched to build Six Flags theme parks in global markets; the previously cancelled Six Flags Dubai was revived in 2014 before being called off again in 2018. Six Flags Zhejiang and Six Flags Chongqing both began construction in China before a declining real estate and the collapse of its local investment firm in 2020 forced both projects to be sold on to other developers. The COVID-19 pandemic also hindered Six Flags' operations during 2020, forcing many parks to remain closed for the year. Mike Spanos stepped down in 2021, allowing chairman Selim Bassoul to assume the role of CEO. Seeking reinvention, Bassoul announced a new strategy favoring guest experience over capital investments; this meant raising prices in order to lower daily park crowds, thus improving the park experience for higher-paying guests.[4] The initiative and various comments made by Bassoul proved controversial with shareholders, and was abandoned in November 2022 after park attendance plummeted by 33%.[5] [6] [7] [8]
See main article: article.
Previous unsuccessful attempts had been made to assimilate Cedar Fair in the decade leading up to the merger. One such deal with Apollo Global Management fell apart in April 2010[9] October 2, 2019, Reuters reported that Six Flags had first approached Cedar Fair with a cash-and-stock acquisition offer, although the proposal was quickly rebuffed.[10] [11] In February 2022, SeaWorld Parks & Entertainment (now United Parks & Resorts) made an unsolicited all-cash bid to buy Cedar Fair for $3.4 billion; the offer was rejected two weeks later.[12] [13]
Six Flags and Cedar Fair eventually merged in 2024 after announcing the pending agreement in 2023. Described as a "merger of equals", the combined company retained the Six Flags name, formed a net worth of $8 billion, and created a portfolio of 27 amusement parks, 15 water parks, and 9 resort properties. The transition resulted in Cedar Fair stakeholders becoming majority owners, with "unitholders" owning a 51% stake in the new company. President and CEO of Cedar Fair, Richard Zimmerman, became President and CEO of the new combined company, while Selim Bassoul, former President and CEO of Six Flags, became the executive chairman of the company's board of directors.[14] The combined company's new headquarters is scheduled for relocation to Charlotte, North Carolina, with significant administrative and financial operations being located at Cedar Fair's former headquarters in Sandusky, Ohio.[15] The merger was completed on July 1, 2024.[16]
Year acquired lists the year the property was acquired by the property's previous respective owner among the current company's two predecessors.
| Name | Location | Year opened | Year acquired | Notes | |
|---|---|---|---|---|---|
| California's Great America | Santa Clara, California | 1976 | 2006 | A seasonal amusement park acquired by Cedar Fair in 2006 during the purchase of Paramount Parks. | |
| Canada's Wonderland | Vaughan, Ontario | 1981 | 2006 | The most visited seasonal amusement park in North America, acquired by Cedar Fair in 2006 during the purchase of Paramount Parks. | |
| Carowinds | Charlotte, North Carolina | 1973 | 2006 | A seasonal amusement park acquired by Cedar Fair in 2006 during the purchase of Paramount Parks. | |
| Cedar Point | Sandusky, Ohio | 1870 | Once the flagship of the Cedar Fair chain, it is one of the oldest Six Flags parks. | ||
| Dorney Park & Wildwater Kingdom | Allentown, Pennsylvania | 1884 | 1992 | A seasonal amusement park acquired by Cedar Fair in 1992.[17] | |
| Frontier City | Oklahoma City, Oklahoma | 1958 | 2018 | An original Six Flags property during the Premier Parks era. Owned by EPR Properties; operated by Six Flags since 2018. | |
| Kings Dominion | Doswell, Virginia | 1975 | 2006 | A seasonal amusement park acquired by Cedar Fair in 2006 during the purchase of Paramount Parks. | |
| Kings Island | Mason, Ohio | 1972 | 2006 | A seasonal amusement park acquired by Cedar Fair in 2006 during the purchase of Paramount Parks. | |
| Knott's Berry Farm | Buena Park, California | 1920 | 1997 | Originally acquired by Cedar Fair from the Knott Family in 1997,[18] the year-round park is the most-visited park in the chain. | |
| La Ronde | Montréal, Quebec | 1967 | 2001 | Built for Expo 67. Emphyteutic lease from the City of Montréal through 2065. | |
| Michigan's Adventure | Muskegon, Michigan | 1956 | 2001 | A seasonal amusement park acquired by Cedar Fair in 2001. | |
| Six Flags America | Largo, Maryland | 1973 | 1999 | Acquired in Premier Parks deal. Formerly known as Adventure World, and before that Wild World. | |
| Six Flags Darien Lake | Darien, New York | 1981 | 2018 | Owned by Six Flags from 1999 to 2007. Owned by EPR Properties; operated by Six Flags since 2018. | |
| Six Flags Discovery Kingdom | Vallejo, California | 1968 | 1997 | Acquired in Premier Parks deal. Initially re-branded as Six Flags Marine World, it received its current name in 2007. | |
| Six Flags Fiesta Texas | San Antonio, Texas | 1992 | 1998 | Originally owned by USAA and managed by Gaylord Entertainment from 1992 to 1995. Six Flags took over park management in 1996 and the park was purchased mid-season 1998. | |
| Six Flags Great Adventure | Jackson, New Jersey | 1974 | 1977 | Safari Off-Road Adventure is attached to the park, making Great Adventure the second-largest theme park in the world. | |
| Six Flags Great America | Gurnee, Illinois | 1976 | 1984 | Acquired from Marriott Corporation. By acquiring this park, Six Flags gained the rights to the Warner Bros. licenses. Purchase price $114.5M[19] | |
| Six Flags Great Escape and Hurricane Harbor | Queensbury, New York | 1954 | 1996 | Acquired in Premier Parks deal. Originally known as Storytown USA until 1982. | |
| Six Flags Magic Mountain | Valencia, California | 1971 | 1979 | Acquired from Newhall Land and Farming Company. Purchase price $51M[20] | |
| Six Flags México | Mexico City, Mexico | 1982 | 1999 | Acquired from Reino Aventura. Purchase price $59M[21] | |
| Six Flags New England | Agawam, Massachusetts | 1870 | 1997 | One of the two oldest parks in the chain, predating the founding of the first Six Flags Park by nearly a century. Acquired in Premier Parks deal, formerly Riverside Park. | |
| Six Flags Over Georgia | Austell, Georgia | 1967 | Built by Six Flags, the second of three locations. The park is partially owned by a limited partnership and is managed and operated by Six Flags. | ||
| Six Flags Over Texas | Arlington, Texas | 1961 | Built by Six Flags, the first location. The park is partially owned by a limited partnership and is managed and operated by Six Flags. | ||
| Six Flags St. Louis | Eureka, Missouri | 1971 | Built by Six Flags, the last of three locations and the only one completely owned by Six Flags. Originally opened as Six Flags Over Mid-America. | ||
| Valleyfair | Shakopee, Minnesota | 1976 | 1978 | A seasonal amusement park acquired by Cedar Point in 1978 that led to Cedar Fair's formation in 1983. | |
| Worlds of Fun | Kansas City, Missouri | 1973 | 1995 | A seasonal amusement park acquired by Cedar Fair in 1995.[22] |
| Name | Location | Year opened | Year acquired | Notes |
|---|---|---|---|---|
| Located in amusement parks | ||||
| Carolina Harbor | Charlotte, North Carolina | 1982 | 2006 | Located within Carowinds. |
| Oceans of Fun | Kansas City, Missouri | 1982 | 1995 | Located adjacent to Worlds of Fun. In 2013, the water park became included with admission to Worlds of Fun.[23] |
| Six Flags Hurricane Harbor | Queensbury, New York | 1995 | 1996 | Located within Six Flags Great Escape. Was originally known as Splashwater Kingdom until 2019. |
| Six Flags Hurricane Harbor Maryland | Largo, Maryland | 1982 | 1992 | Located within Six Flags America. Renamed to Hurricane Harbor Maryland in 2023.[24] |
| Six Flags Hurricane Harbor | Darien, New York | 2010 | 2018 | Located within Six Flags Darien Lake. |
| Six Flags Hurricane Harbor | Agawam, Massachusetts | 1997 | 1998 | Located within Six Flags New England. |
| Six Flags Hurricane Harbor | Austell, Georgia | 2014 | Located within Six Flags Over Georgia. | |
| Six Flags Hurricane Harbor | Eureka, Missouri | 1999 | Located within Six Flags St. Louis. | |
| Soak City | Doswell, Virginia | 1992 | 2006 | Located within Kings Dominion. |
| Soak City | Mason, Ohio | 1989 | 2006 | Located within Kings Island. |
| Soak City | Shakopee, Minnesota | 1983 as Liquid Lightning | Located within Valleyfair. | |
| South Bay Shores | Santa Clara, California | 2004 | 2006 | Located within California's Great America. |
| Splash Works | Vaughan, Ontario | 1992 | 2006 | Located within Canada's Wonderland. |
| WildWater Adventure | Muskegon, Michigan | 1991 | 2001 | Located within Michigan's Adventure. |
| Separate admission or property | ||||
| Sandusky, Ohio | 1988 | Located adjacent to Cedar Point. | ||
| Knott's Soak City | Buena Park, California | 2000 | Located adjacent to Knott's Berry Farm, Opened under the name, Soak City U.S.A., a legacy Cedar Fair park. | |
| 2006 | 2019 | Purchased by Cedar Fair in 2019 from the Henry family. | ||
| Schlitterbahn New Braunfels | New Braunfels, Texas | 1979 | 2019 | Purchased by Cedar Fair in 2019 from the Henry family. |
| Six Flags Hurricane Harbor Los Angeles | Valencia, California | 1995 | Located adjacent to Six Flags Magic Mountain. | |
| Six Flags Hurricane Harbor Arlington | Arlington, Texas | 1983 | 1995 | Acquired from Wet 'n Wild. Located across Interstate 30 from Six Flags Over Texas. |
| Six Flags Hurricane Harbor New Jersey | Jackson, New Jersey | 2000 | Located adjacent to Six Flags Great Adventure. | |
| Six Flags Hurricane Harbor Oaxtepec | Oaxtepec, Mexico | 2017 | 2016 | Reopened in the former Parque Acuatico Oaxtepec location. One hour from Six Flags Mexico. |
| Six Flags Hurricane Harbor Concord | Concord, California | 1995 | 2017 | This water park was built by Premier Parks prior to its purchase of Six Flags. It was sold to PARC Management in the 2007 property sell-off. On April 27, 2017, Six Flags announced it had entered into an agreement with EPR Properties to manage the park. On February 22, 2018, Six Flags announced that the park would be renamed from Waterworld Concord to Six Flags Hurricane Harbor Concord.[25] Located about 15 miles from Six Flags Discovery Kingdom. |
| Six Flags Hurricane Harbor Phoenix | Phoenix, Arizona | 2009 | 2018 | Owned by EPR Properties; operated by Six Flags. |
| Six Flags Hurricane Harbor SplashTown | Spring, Texas | 1984 | 2018 | Owned by EPR Properties; operated by Six Flags. |
| Six Flags White Water | Marietta, Georgia | 1983 | 1999 | Located about 15 miles from Six Flags Over Georgia. |
| Six Flags Hurricane Harbor Oklahoma City | Oklahoma City, Oklahoma | 1981 | 2018 | Located about 15 miles from Frontier City, the park is owned by EPR Properties and is operated by Six Flags. |
| Six Flags Hurricane Harbor Rockford | Cherry Valley, Illinois | 1984 | 2019 | Owned by Rockford Park District, operated by Six Flags under a ten-year lease agreement beginning April 1, 2019. |
| Six Flags Hurricane Harbor Chicago | 2005 | Located adjacent to Six Flags Great America. It became a separate gate from Great America, making it the company's 27th amusement park and was rebranded to Hurricane Harbor Chicago in 2021.[26] | ||
| Six Flags Hurricane Harbor San Antonio | San Antonio, Texas | 1992 | 1998 | Located adjacent to Six Flags Fiesta Texas. Formerly called Ol' Waterin' Hole from 1992 to 1998, Armadillo Beach from 1999 to 2005. It was rebranded to Hurricane Harbor San Antonio and became a separate gate in 2023.[27] |
| Name | Location | Year Opened | Year Acquired | Notes | |
|---|---|---|---|---|---|
| Castaway Bay | Sandusky, Ohio | 2004 | Located about a mile from Cedar Point, a legacy Cedar Fair park. | ||
| Six Flags Great Escape Lodge & Indoor Waterpark | Queensbury, New York | 2006 | Located across from Great Escape, includes a resort. Water park is named Six Flags White Water Bay. |
Fast Lane is an expedited queue system in use at parks formerly associated with Cedar Fair. It was first announced for Kings Island on July 18, 2011.[30] The park served as the testing park for the system. For an increased cost, visitors get a wrist band which gives them the ability to wait in a shorter queue for most attractions. Originally, it could only be used from noon to 7:00 PM, but it was soon expanded to be available all day. Fast Lane would be rolled out to all Cedar Fair parks for the 2012 season.[31] There is also Fright Lane, which is Fast Lane for the haunted attractions during the Halloween events.[32] For the 2016 season, Cedar Fair began testing all season Fast Lane at Valleyfair and Dorney Park. By the 2019 season, all parks offered all season Fast Lane.
A water park version of the virtual system called Q-band was first tested at Six Flags White Water in 2011.[35] [36] Guests wear waterproof RFID wristbands that can be scanned at kiosks near participating water park attractions.[37]