Six Flags sells seven parks in $331M deal as EPR Properties expands — what it means for families and local economies
Six Flags announced March 5, 2026 it will sell seven parks to EPR Properties for about $331 million, a move to reduce debt and refocus on higher-return sites while assuring guests season passes and operations remain uninterrupted.
- Buyer: EPR Properties press release — experiential REIT expanding its portfolio.
- Parks & operations: Six parks in the U.S. will be run by Enchanted Parks under a long-term master lease; La Ronde will be operated by La Ronde Operations, Inc.
- Guest protections: Season passes and regular schedules are expected to be honored and unchanged through the 2026 operating season.
Sale overview
On March 5, 2026, Six Flags Entertainment Corporation announced an agreement to sell seven regional amusement and waterpark properties to EPR Properties. The transaction is valued at roughly $331 million in proceeds to Six Flags; EPR’s filings note a gross portfolio value near $342 million. (Sources: EPR press release, CBS6 Albany.)
Parks included in the transaction
The package includes seven properties spanning the U.S. and Canada:
- Worlds of Fun (Kansas City, MO) — includes Oceans of Fun.
- Valleyfair (Minneapolis, MN).
- Six Flags St. Louis (St. Louis, MO).
- Schlitterbahn Waterpark Galveston (Galveston, TX).
- Michigan’s Adventure (Muskegon, MI).
- Six Flags Great Escape (Queensbury, NY).
- Six Flags La Ronde (Montreal, QC) — operated by La Ronde Operations, Inc.
Six U.S. parks will be managed by Enchanted Parks under a long-term master lease; La Ronde will be run by the Canadian operator already affiliated with EPR. (Sources: CBS6 Albany; EPR release.)
Why Six Flags is selling: strategy and finances
Six Flags framed the divestiture as strategic. CEO John Reilly said the move allows the company 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.” Proceeds — after taxes and transaction expenses — are slated to pay down debt and modestly improve leverage, strengthening the balance sheet.
“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.” — John Reilly, Six Flags
Context: Since its 2024 merger with Cedar Fair, Six Flags has been reviewing assets to prioritize higher-margin parks and maintain a core portfolio — expected to remain at 34 parks across 23 North American locations after the sale. (Source: CBS6 Albany.)
EPR’s angle: REIT growth and stable cash flow
EPR Properties characterized the purchase as an opportunity to expand its experiential real estate portfolio with established, drive-to destinations that produce stable cash flows and have long-term land value. CEO Gregory Silvers called the deal “a compelling opportunity” to grow attractions assets in regional markets.
“This represents a compelling opportunity to expand our attractions portfolio with high-quality experiential real estate assets in established regional markets.” — Gregory Silvers, EPR Properties
EPR provided roughly $315 million in cash for the acquisition; tenant operators will fund additional working capital and park improvements. EPR underwrote the assets assuming approximately 2.0x coverage, and the company noted this is its largest acquisition since 2017. (Source: EPR press release.)
What the parks produce now
Collectively the seven parks span more than 1,600 acres, house 418 attractions and hosted about 4.5 million guests in 2025. In 2025 they generated approximately $260 million in net revenue and about $45 million in adjusted EBITDA. EPR acquired non-Six Flags branded property names and the rights to the Six Flags brand through the 2026 operating season. (Sources: CBS6 Albany; EPR release.)
Operational details and guest protections
Both companies emphasized a seamless transition for guests:
- Park operating calendars and regular schedules are expected to continue without disruption.
- All season passes sold by Six Flags — including multi-park products — will be honored through the 2026 season.
- Six U.S. parks will be operated by Enchanted Parks (formerly Innovative Attraction Management) under a long-term master lease; La Ronde will be operated by La Ronde Operations, Inc., led by Kieran Burke. (Source: EPR release.)
Transaction timeline and advisors
The companies expect the deal to close by the end of the first quarter or the start of the second quarter of 2026, subject to customary closing conditions and approvals. Six Flags engaged Perella Weinberg Partners as financial advisor and Weil, Gotshal & Manges LLP for legal counsel. (Source: CBS6 Albany.)
Closer look at the properties by region
The package mixes regional amusement parks and waterpark assets that draw drive-to, multigenerational visitors across the Midwest, Plains, Northeast, Gulf Coast and Canada. Notable local coverage includes regional reporting and business journals offering market perspective. (See Kansas City Business Journal coverage.)
Implications for Hesperia, California
Economic impact: Hesperia is not a drive-to market for these parks, but the sale can matter locally. A stronger Six Flags balance sheet — achieved by reducing debt with sale proceeds — could mean more stable operations at remaining Six Flags properties that attract Southern California families and weekend travelers from Hesperia.
Political and fiscal angle: For readers focused on fiscal responsibility, the transaction is an example of balance-sheet discipline: proceeds used to lower debt can reduce financial risk and lessen the chance of distressed outcomes.
Social and jobs effects: If EPR and operators invest in improvements and marketing, the travel and leisure sector may see modest job gains that indirectly benefit Hesperia’s hospitality workforce. Conversely, private operators may pursue efficiency gains that could affect staffing or contracting at regional parks.
Practical guidance for families: Season passes sold through Six Flags will be honored through 2026 and no immediate operating-calendar changes are expected during the transition; families should confirm operator websites and ticket policies before travel. (Sources: CBS6 Albany; EPR release.)
Reporting and sources
This article is based on company releases and regional reporting. Primary sources include the EPR Properties press release, coverage by CBS6 Albany report, and Kansas City Business Journal coverage.
Sources and links preserved for reference and verification.
