Six Flags Sells Seven Iconic Parks Amid Financial Pressure and Activist Investor Demands
The iconic Six Flags amusement park empire is preparing to wave goodbye to seven of its beloved properties. This major sell-off comes as the rollercoaster conglomerate battles persistent financial difficulties and mounting pressure from activist investors, including high-profile figures like Kansas City Chiefs star Travis Kelce.
A Strategic Move to Simplify Operations
Six Flags CEO John Reilly announced the $331 million sale on March 5, framing it as a necessary step to streamline the company's portfolio and strengthen its balance sheet. "This transaction will simplify our portfolio, strengthen our balance sheet and position us to execute with greater clarity and discipline," Reilly stated. "We know how much these parks mean to our guests... decisions like this are never taken lightly."
The sale follows Six Flags' previous closure of two major theme parks in California and Maryland. The company, which declared bankruptcy in 2009 before merging with rival Cedar Fair in 2024, has been facing significant operational challenges. The transaction coincides with an ongoing boardroom struggle against activist investors who have accused the company of "dysfunctional" leadership.
The Parks Changing Hands
The seven parks being sold range from upstate New York to Kansas City, collectively hosting approximately 4.5 million guests during 2025. All parks will maintain their regular schedules through at least the end of this year, and all season passes—including multi-park passes—will be honored throughout the 2026 season. After that, their future rests with Missouri-based real estate investment company EPR Properties and its operating partners.
Six Flags Great Escape in Queensbury, New York: Opened in 1954 as Storyland, this park predated Walt Disney's original park by one year, making it one of America's oldest continuously operating theme parks. However, it has suffered from declining attendance, shuttered attractions, and reduced investment in recent years. The park was particularly affected by former President Donald Trump's trade war with Canada, which led to decreased visitation from Canadian tourists. Under new management by Enchanted Parks, the park may receive much-needed upgrades, with trademark filings suggesting a potential name change to "Enchanted Parks Great Escape Lodge."
Six Flags St. Louis in Missouri: Originally not part of the sale, this park has been described as the "crown jewel" of the deal by Enchanted CEO James Harhi. Opened in 1971 as one of Six Flags' original three attractions, the park will be renamed Mid-America by Enchanted Parks, paying homage to its original name of Six Flags Over Mid-America. Harhi has promised significant upgrades and potential price adjustments to make the park "much more value-priced for people."
La Ronde in Montreal, Canada: Quebec's largest amusement park and Canada's second biggest, La Ronde first opened in 1967 as part of Expo 67. Unlike the US parks, it will be operated by Canadian amusement park magnate Kieran Burke, who previously managed La Ronde before being forced out in 2005. Burke has expressed his "special affection" for the park and committed to respecting its traditions and rich history while ensuring a smooth transition.
Schlitterbahn Waterpark in Galveston, Texas: This relatively new park, opened in 2006, has already changed ownership three times. No major changes are expected through 2026, but trademark filings suggest it could eventually be renamed Enchanted Parks Galveston. EPR Properties has indicated the property will remain a waterpark while improving food offerings and customer experience.
Michigan's Adventure in Muskegon, Michigan: Michigan's largest amusement park dates back to 1956 when it was named Deer Park. Enchanted CEO James Harhi has stated that his company's immediate goal is to "learn from our consumers, learn from our employees, how we can make the park better." The park may be renamed Enchanted Parks Michigan Adventure according to trademark filings.
Valleyfair in Minneapolis, Minnesota: Another former Cedar Fair property that joined Six Flags through the 2024 merger, Valleyfair is celebrating its 50th anniversary this year. A Six Flags spokesperson has assured that the sale is "not expected to affect the guest experience in any significant way" and that the company aims to ensure "a smooth, seamless experience."
Worlds of Fun in Kansas City, Missouri: Located near EPR Properties' headquarters, this park is expected to receive special attention. The sale includes both Worlds of Fun and its attached water park Oceans of Fun. EPR's Brian Moriarty has promised "increased overall focus—everything from fundamental maintenance to areas of enhancement around rides and various attractions." The connection to activist investor Travis Kelce, who calls himself a theme park "superfan," adds particular significance to this property's future.
Looking Ahead
The sale represents a significant shift for the amusement park industry, with Enchanted Parks taking over six of the seven properties. Company executives argue that operating fewer parks will allow them to dedicate more attention to each location. While names and operations will remain largely unchanged through 2026, trademark filings suggest rebranding may occur in subsequent years.
For employees, Six Flags has confirmed that seasonal hiring will proceed as planned this year, and union agreements will remain in place. Park employees have expressed excitement about working with the new owners, suggesting optimism about the parks' future under more focused management.
As the amusement park industry continues to evolve post-pandemic, this major divestiture by Six Flags marks a pivotal moment. Whether the new ownership can revitalize these beloved parks while addressing the financial pressures that prompted the sale remains to be seen, but for now, thrill-seekers can expect business as usual through the 2026 season.
