Six Flags Completes Sale of Six U.S. Parks to EPR Properties: Detailed Investor Update

Key Highlights

• Six Flags Entertainment Corporation (NYSE: FUN) has completed the previously announced sale of six of its U.S. amusement parks to EPR Properties (NYSE: EPR).
• The transaction marks a significant milestone in Six Flags’ ongoing portfolio optimization strategy, designed to streamline its operations and concentrate resources on higher-growth assets.
• La Ronde (Montreal, QC), a Canadian property, is expected to be sold in the second quarter of 2026, pending regulatory approvals and satisfaction of closing conditions.
• This move is intended to drive improved operating performance, margin expansion, free cash flow generation, and earnings growth.
• EPR Properties will operate the acquired parks through a partnership with Enchanted Parks and will retain the right to use the Six Flags brand at these locations until the end of 2026.
• All season passes will be honored through the 2026 operating season, including multi-park privileges at other Six Flags parks.

Details of the Transaction

The six U.S. parks sold to EPR Properties are:

• Valleyfair (Minnesota)
• Worlds of Fun (Missouri)
• Michigan’s Adventure (Michigan)
• Schlitterbahn Waterpark Galveston (Texas)
• Six Flags St. Louis (Missouri)
• Six Flags Great Escape (New York)

These parks will continue their regular operating schedules under the Six Flags brand through 2026. No significant impact on guests is expected during this transition.

Management Commentary

“This divestiture reflects Six Flags’ disciplined approach to portfolio optimization and the decisive action we are taking to concentrate our capital and operational focus on properties with the greatest long-term growth potential,” said John Reilly, President and CEO of Six Flags. “This portfolio refinement further positions Six Flags to execute more effectively in 2026 and beyond, and I am confident in the opportunities ahead as we continue taking steps to drive improved operating performance, margin expansion, free cash flow generation, and earnings growth.”

What Investors Need to Know

• Strategic Refocus: This transaction is part of a broader strategy to optimize the company’s portfolio, potentially enhancing shareholder value by concentrating on properties with more substantial growth prospects.
• Brand Continuity: EPR Properties will use the Six Flags brand at the sold parks through 2026, which should minimize disruptions and maintain brand equity during the transition.
• Operational Continuity: All season passes, including multi-park privileges, will be honored through the 2026 season, minimizing customer and revenue risk from the transition.
• Pending Sale: The sale of La Ronde in Montreal remains subject to closing conditions and regulatory approval, representing an additional near-term milestone for the company’s transformation.
• Potential Upside and Risks: Investors should monitor the integration of the newly focused portfolio, as well as execution against expected margin and free cash flow improvements. However, risks remain, particularly around the realization of anticipated merger and synergy benefits, potential adverse economic or political conditions, and post-transaction operational performance.

Forward-Looking Statements and Risks

Six Flags cautions investors that forward-looking statements in this release involve risks and uncertainties. Key risks include failure to realize anticipated benefits and synergies from the recent merger with Cedar Fair, economic and market conditions, weather events, impacts from public health crises, competitive pressures, construction delays, changes in investment plans, regulatory changes, and the ability to retain key talent.

Investors are urged to review the “Risk Factors” section in the company’s latest Annual Report on Form 10-K and other SEC filings for additional details.

About Six Flags Entertainment Corporation

Six Flags is North America’s largest regional amusement-park operator, with 21 amusement parks, 14 water parks, and nine resort properties across 13 U.S. states, Canada, and Mexico. The company also manages a park in Saudi Arabia. Six Flags leverages a portfolio of leading IPs including Looney Tunes®, DC Comics®, and PEANUTS®.

Disclaimer: This article includes forward-looking statements based on current expectations and information available at the time of publication. Actual results may differ materially due to various risks and uncertainties. This is not investment advice. Investors should review all relevant filings and consult their financial advisors before making investment decisions.

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