Six Flags sells parks in $331 million deal as company refocuses — EPR Properties to take seven regional sites
Six Flags Entertainment Corporation announced the sale of seven regional amusement and water parks to EPR Properties for $331 million, streamlining operations to focus capital and leadership on its remaining 34 parks and strengthen its balance sheet.
Key takeaways
- Seller: Six Flags Entertainment Corporation; Buyer: EPR Properties investor release with operating partners Enchanted Parks (U.S.) and La Ronde Operations (Canada).
- Parks sold: Michigan’s Adventure (Muskegon, Mich.); Schlitterbahn Waterpark Galveston (Galveston, Texas); Six Flags Great Escape (Queensbury, N.Y.); Six Flags La Ronde (Montreal); Six Flags St. Louis (Mo.); Valleyfair (Minneapolis); Worlds of Fun (Kansas City).
- Price & performance: About $331 million in cash proceeds (gross transaction value reported at $342 million); the seven parks hosted ~4.5 million guests in 2025, produced ~ $260 million net revenue and ~$45 million adjusted EBITDA.
- Season passes and operations: Parks will operate normally during transition and existing season passes will be honored through the 2026 season.
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Key information
Seller: Six Flags Entertainment Corporation. Buyer: EPR Properties, which will partner with Enchanted Parks in the U.S. and La Ronde Operations in Canada to operate the properties.
Parks included: Michigan’s Adventure (Muskegon, Mich.); Schlitterbahn Waterpark Galveston (Galveston, Texas); Six Flags Great Escape (Queensbury, N.Y.); Six Flags La Ronde (Montreal); Six Flags St. Louis (Mo.); Valleyfair (Minneapolis); Worlds of Fun (Kansas City).
Price and financials
The transaction delivers roughly $331 million in cash proceeds to Six Flags after deal structure adjustments (the parties reported a gross transaction value near $342 million). EPR committed approximately $315 million of financing toward the deal, with operating tenants providing additional funds for working capital and capital improvements.
Performance metrics: Combined, the parks hosted about 4.5 million guests in 2025 and generated roughly $260 million in net revenue and about $45 million in adjusted EBITDA, underscoring their regional role.
Why Six Flags is selling: company strategy and financial plan
Six Flags framed the sale as a strategic step to concentrate capital and leadership on parks with the strongest returns. CEO John Reilly said the divestiture aligns with the company’s plan to focus resources where they produce the most value, and that net proceeds — after taxes and transaction expenses — will be used primarily to pay down debt and improve leverage ratios on an after-tax basis.
Deal structure and operations after sale
EPR Properties, a REIT focused on experiential real estate, will own the seven parks. Enchanted Parks will operate the six U.S. properties while La Ronde Operations, Inc. (linked to industry veteran Kieran Burke) will operate the Montreal asset. Under the agreement, EPR will have the right to use the Six Flags brand through the end of 2026 under specified conditions.
Gregory Silvers, EPR CEO: “This is a compelling opportunity to expand our attractions portfolio with high-quality experiential real estate assets in established regional markets.”
Guest experience and season-pass promises
Six Flags emphasized continuity: all seven parks will operate on their regular schedules during and after the transition, and all season passes already sold will be honored through the 2026 operating season — including multi-park pass privileges tied to the Six Flags network. EPR’s operational handovers are planned to preserve guest access and benefits through the 2026 season.
Timing, advisers and closing conditions
The sale remains subject to closing conditions and third-party approvals and is expected to close by the end of Q1 or the start of Q2 2026. Perella Weinberg Partners served as Six Flags’ financial adviser; Weil, Gotshal & Manges LLP provided legal counsel. EPR’s financing committed roughly $315 million toward the gross transaction value, with operators contributing remaining capital for improvements and working capital.
Operational footprint and scale
Collectively the seven parks span approximately 1,600 acres across six U.S. states and Canada. Their combined attendance and revenue figures highlight the properties’ significance to regional tourism and local economies.
Investigative angles: questions for customers, workers and local governments
- Job security: Will operating partners retain existing hourly workers, seasonal staff and management teams? Local labor leaders and municipal officials should press for clarity on staffing and labor contracts.
- Capital plans: How much will be invested in rides, safety systems and guest amenities, and on what timeline? EPR and operators have signaled planned investments funded partly by tenants.
- Local tax and revenue effects: Regional governments should assess changes to tax receipts, vendor contracts and tourism-driven commerce as management and capital allocation evolve.
Implications for Redding, California
Although the sold parks are not in California, Redding stakeholders should watch national shifts in entertainment operators’ portfolio strategies. Portfolio trimming and debt reduction by major operators signal that private investment will prioritize properties with consistent returns — a dynamic Redding officials and investors should reflect in tourism pitches and revitalization efforts.
Local hospitality employers should monitor wage and seasonal-hiring trends. Changes in national amusement-park hiring or vendor relationships can ripple into regional labor pools and recruitment for seasonal work.
Practical effects for families and season-pass holders
For travelers and season-pass holders: existing multi-park passes and benefits will be honored through the 2026 season. Families planning trips that include Six Flags properties should keep an eye on announcements from EPR and the new operators for promotions and park-improvement timelines.
Sources and documents
- Six Flags news release and summary
- CBS6 Albany reporting
- EPR Properties investor release
- ConnectCRE analysis of deal terms and park metrics
- WSOC coverage of the transaction
Reporting notes
This article draws on company news releases, investor communications and local reporting. Key figures, operational details and timing are based on statements from Six Flags and EPR Properties and on reporting in the public record. Stakeholders, park employees and customers are encouraged to contact park operators and local officials for updates about staffing, ticketing and planned capital projects.
