Six Flags Divests Seven Regional Parks in $331 Million Deal to Reduce Debt
Charlotte, Thursday, 5 March 2026.
Six Flags optimizes its balance sheet by selling seven regional parks to EPR Properties for $331 million. This strategic move allows the entertainment giant to pay down debt while shedding assets that generated $45 million in adjusted EBITDA last year.
Strategic Realignment and Asset Specifics
On March 4, 2026, Six Flags Entertainment Corporation formally announced the definitive agreements to transfer ownership of these properties to EPR Properties (NYSE: EPR) [1][2]. The transaction, valued at $331 million, is explicitly designed to generate cash proceeds that will be utilized, after taxes and transaction expenses, to reduce the company’s outstanding debt [1]. This divestiture is a calculated component of the company’s broader strategy; Six Flags President and CEO John Reilly emphasized that the move enables the corporation to concentrate its capital and leadership on properties that offer the “strongest returns” and the “greatest long-term upside” [1]. The portfolio being sold includes a diverse array of locations: Valleyfair in Minneapolis, Worlds of Fun in Kansas City, Michigan’s Adventure in Grand Rapids, Six Flags St. Louis, Schlitterbahn Waterpark Galveston, Six Flags Great Escape in Queensbury, New York, and the Canadian property Six Flags La Ronde in Montreal [1].
Operational Metrics and Financial Impact
While Six Flags is streamlining its focus, the assets leaving the portfolio represent a substantial operational footprint. For the fiscal year ended December 31, 2025, these seven parks collectively entertained approximately 4.5 million guests [1]. In terms of financial performance, the group generated approximately $260 million in net revenue and contributed roughly $45 million in Adjusted EBITDA during that period [1]. This data suggests that the divested parks operated with an Adjusted EBITDA margin of approximately 17.308 percent for the 2025 fiscal year. By shedding these specific assets, Six Flags is effectively trading a portion of its operational cash flow for immediate liquidity to strengthen its balance sheet.
Future Management and Timeline
The transaction is projected to close by the end of the first quarter or the beginning of the second quarter of 2026 [1]. Upon completion, EPR Properties will not manage the parks directly. Instead, the real estate investment trust plans to partner with Enchanted Parks to operate the six domestic properties, while La Ronde Operations, Inc. is set to manage the Montreal location [1]. Guests visiting these parks will see familiar branding for the immediate future; EPR has retained the right to use the Six Flags brand at these locations through the end of 2026 [1]. This arrangement allows for a transitional period as the parks migrate from Six Flags’ direct control to the new operating partners.