Six Flags Reports 50.6% Revenue Growth to $2.71 Billion Following Cedar Fair Merger

Six Flags Entertainment Corporation reported significant financial results for the year ended December 31, 2024, following its merger with Cedar Fair, which was completed on July 1, 2024. The Combined Company generated net revenues of $2.71 billion, a 50.6% increase from $1.80 billion in 2023. This growth was primarily driven by the inclusion of Former Six Flags operations, which contributed approximately $882 million in revenues during the second half of 2024. Attendance rose by 56.2% to 41.6 million guests, reflecting a 15 million increase compared to the previous year, largely attributed to the Former Six Flags parks.

Operating costs and expenses also increased, totaling $2.02 billion, up 53.4% from $1.32 billion in 2023. This rise was influenced by higher operational expenses related to the Former Six Flags parks and increased selling, general, and administrative costs, which included $61.5 million in transaction and integration costs associated with the merger. The operating income for the year was reported at $310.5 million, a slight increase from $306.2 million in 2023, while the net loss attributable to Six Flags Entertainment Corporation was $231.2 million, compared to a net income of $124.6 million in the prior year.

Strategically, the merger aimed to create a leading amusement park operator with a diversified portfolio and enhanced guest experiences. The Combined Company has initiated "Project Accelerate," focusing on improving guest experiences, operational efficiencies, and capital investments, with plans to invest approximately $1 billion in capital expenditures over the next two years. This includes the introduction of new attractions and enhancements to existing facilities across its parks.

As of December 31, 2024, the Combined Company employed approximately 5,000 full-time employees, a 3% decrease from the previous year, while seasonal and part-time employees numbered around 93,000. The company also reported a total debt of $4.96 billion, which includes various senior notes and a revolving credit facility. The management anticipates that the integration of operations will yield cost synergies and improved financial performance in the coming years, despite the challenges posed by economic conditions and the competitive landscape of the amusement park industry.

Looking ahead, Six Flags Entertainment Corporation is focused on leveraging its expanded portfolio to drive attendance and revenue growth. The company plans to enhance its marketing strategies, improve guest satisfaction, and optimize pricing strategies to increase in-park spending. Management remains cautious about potential economic downturns and their impact on discretionary spending, but is optimistic about the long-term benefits of the merger and the strategic initiatives underway.