Six Flags Entertainment Corp. has agreed to sell seven of its regional amusement parks to EPR Properties for $331 million in cash. The divestiture includes Valleyfair, Worlds of Fun, Michigan’s Adventure, Schlitterbahn Waterpark Galveston, Six Flags St. Louis, Six Flags Great Adventure, and Six Flags Over Georgia. The transaction is expected to close in the second half of 2026, with a target close by the end of the first quarter or beginning of the second quarter of 2026.
The sale is part of a broader strategy to streamline the company’s portfolio and reduce leverage. Six Flags’ long‑term debt stood at $5.18 billion as of the most recent quarter, and the company’s leverage ratio was projected to remain above 5.5× through 2026. By converting the seven parks into cash, the company will be able to pay down debt, lower its leverage, and improve its credit profile, a move that prompted S&P Global Ratings to upgrade the issuer rating to B+ from BB‑.
Management said the divested parks were chosen because they are less profitable and have not received significant capital investment in recent years. CEO John Reilly explained that the transaction will allow the company to concentrate capital, leadership, and operational focus on the 34 parks that offer higher growth potential and stronger returns. “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,” Reilly said. “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.”
The deal also preserves the guest experience. Six Flags stated that all parks will continue normal operations through the 2026 season, season passes will be honored, and EPR Properties will retain the right to use the Six Flags brand through the end of 2026. The transaction is structured so that EPR will partner with Enchanted Parks to operate the six U.S. parks and La Ronde Operations, Inc. for the Canadian park.
The announcement follows a July 2024 merger with Cedar Fair and a series of strategic initiatives aimed at reducing debt and improving operational efficiency. The sale is the largest acquisition for EPR Properties since 2017 and expands its portfolio of experiential real‑estate assets. The transaction is expected to provide a significant cash infusion that can be used to pay down leverage and fund future capital investments in core parks.
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