Six Flags posts $1.6 billion loss for 2025

Interesting to see this. People are snagging up $499 All Season Fast Lanes while Cedar Point's was priced at $999 and is now sold out.

if there’s a population of folks who won’t buy a pass for the next season November current year to December next year) if you fail to have a meaningful winter event

Wonder how many people fall into this camp. I wouldn't expect there are many people who buy a season pass but only go to winter events. Would expect those people (at least most of them) are buying single day tickets. And if there were people who purchased season tickets at winter events (for that winter season and full next season) and who went to the parks during the summer and Halloween events, but didn't buy a season pass this year (because winter events were canceled), how do the parks know they won't buy passes for this season when the parks open? Park has more info than we do so it may be more people than I would expect fit in those buckets. Look at how many people are buying up season long Fast Lane passes. :)

There is a good chance that without that refinancing finalized, advisors or internals were saying “you can’t spend a dime more than essentials (see Capex deferrals) until we get that new money”.

They had $1 billion of debt maturing in April 2027. Not sure how much canceling winter events could have moved the needle had they been unable to refinance.

I wonder where we see Six Flags in 5, 10 years? What is going to happen?

Sad reality!

I spent a lot of years by that lake. That just makes me sad.

You and me both. But I genuinely look forward to the public park opening on the Seaworld/WWK side. It will be nice to have the chance to go back and walk the area again. The "bring back Geauga Lake" crowd on social media seems to have preferred it stay as an abandoned lot.

That’s not the worst development I’ve ever seen… certainly better than a new Walmart.

Well, there is a new Meijer right next door.......

Can you walk there or do you have to get into your car, exit the housing development, then enter the shopping development? :P

This is 'Merica you realize? No car - rather a giant SUV

It really is a decent development, certainly better than the dilapidated empty lot we had to look at for over a dozen years. Although I wouldn't care for a unit on the Route 43 side, when the only view from the balcony is a Speedway gas station and a rough looking Asian take-out.

And I wouldn't walk to Meijer, no sidewalks 😂

Also looking forward to the Aurora waterpark development.

I guess we'll have to get used to this kind of redevelopment on former amusement park grounds as more parks are going to close in the not so distant future. I absolutely hate to see an amusement park close, but for some reason I hate it more when that park ends up being demolished instead of being left abandonned. There are pretty much no coasters left abandonned (SBNO) anymore, as they all get demolished and I understand why, but still I love to at least let them stand and age!

"KANSAS CITY, Mo.--(BUSINESS WIRE)--EPR Properties (NYSE: EPR) (the "Company”), announced today that it has entered into definitive agreements to acquire a portfolio of seven regional parks from Six Flags Entertainment Corporation for a gross transactional value of $342 million"

https://www.businesswire.co...onal-Parks

Want to buy a handful of parks? Got $331 Mil? They could be yours

Even in my most pessimistic views, I never assumed you could buy Valley Fair and Six flags St. Louis (and a smattering of other small parks) for $331 or $342 million.

how is this even a needle mover and how effing desperate does this look?

If you had those parks on your to do list, this summer would be the year to do it.

they’re all on borrowed time.

From Six Flags press release:

The parks included in the transaction are Valleyfair (Minneapolis, Minn.), Worlds of Fun (Kansas City, Mo.), Michigan’s Adventure (Grand Rapids, Mich.), Schlitterbahn Waterpark Galveston (Galveston, Texas), Six Flags St. Louis (St. Louis, Mo.), Six Flags Great Escape (Queensbury, N.Y.) and Six Flags La Ronde (Montreal, QC). Collectively, the parks entertained approximately 4.5 million guests for the full year ended Dec. 31, 2025, generating approximately $260 million in net revenue and approximately $45 million in Adjusted EBITDA. Cash proceeds, after taxes and transaction expenses, will be used to pay down debt. On an after-tax basis, net proceeds are expected to be slightly beneficial to the Company’s leverage ratio.

“Consistent with our strategy, this divestiture enables us to concentrate our capital, leadership and operational focus on the properties that we believe generate the strongest returns and offer the greatest long-term upside,” said Six Flags President and CEO John Reilly. “Since joining the Company, I have been clear that Six Flags’ earnings power has been under-realized. This transaction will simplify our portfolio, strengthen our balance sheet and position us to execute with greater clarity and discipline.”

Reilly continued, “By focusing our resources on the parks that we believe have the highest growth potential, we expect to drive operating leverage, expand margins and accelerate our cash flow generation.”

https://investors.sixflags....fault.aspx

As a Cedar Fair guy, I'm most taken aback by Worlds of Fun and Valleyfair, of course. I thought each performed well in its own market. Not surprised to hear about the other parks, if I'm being honest.

Worlds of Fun is getting shafted that is the only park that seemed to have good upside and was a real hidden gem.