Portfolio reshuffle targets higher-return properties
Six Flags Entertainment said Thursday it will sell seven amusement parks in the United States and Canada to real estate owner EPR Properties for about $331 million, a move the company said will sharpen its focus on parks with stronger long-term returns. Six Flags chief executive John Reilly said the divestiture aligns with the operator’s strategy to concentrate capital and leadership attention on the properties it views as the best drivers of future performance.
The sale covers a group of regional parks that Six Flags said collectively hosted about 4.5 million guests last year and generated roughly $260 million in net revenue. Six Flags said it expects to use the cash proceeds, net of taxes and transaction-related expenses, to reduce debt.
Shares of Six Flags Entertainment, which trades under ticker FUN, rose 4.66% to $17.51 following the announcement.
Assets span Midwest, Northeast, South and Canada
The parks included in the transaction are Michigan’s Adventure in Muskegon, Michigan, Schlitterbahn Waterpark Galveston in Texas, Six Flags Great Escape in Queensbury, New York, Six Flags La Ronde in Montreal, Six Flags St. Louis in Missouri, Valleyfair near Minneapolis and Worlds of Fun in Kansas City.
EPR said the purchase expands its exposure to experiential properties across established regional markets. Gregory Silvers, EPR’s chief executive, called the deal a strategic acquisition that adds attractions real estate assets that fit the company’s portfolio approach.
Operations to continue with new management partners
EPR said it plans to partner with Enchanted Parks to operate the six U.S. parks after the transaction closes. The Canadian park, La Ronde in Montreal, will be operated by La Ronde Operations, according to the announcement.
Six Flags said the parks will keep running on their normal schedules. It also said all season passes already sold will be honored through the 2026 operating season, a provision intended to limit disruption for customers while ownership transitions.
Closing timeline set for early 2026
The companies said the transaction is expected to close by the end of the first quarter or the beginning of the second quarter of 2026. After the sale, Six Flags said it will continue to operate 34 parks across 23 locations in North America for the 2026 season.
The divestiture comes as park operators and leisure-focused real estate owners emphasize capital discipline, using asset sales and targeted investment to improve returns. For Six Flags, the company framed the move as a way to redirect resources toward properties with what it described as the strongest upside. For EPR, the deal adds a new set of venues to a portfolio built around out-of-home entertainment and destination experiences.
