Six Flags Entertainment Corporation/NEW
Six Flags Entertainment Corporation is a U.S.-based regional amusement park operator with a portfolio of amusement parks, separately gated water parks, and resort properties across North America. Its business centers on admission sales, in-park food and merchandise, games, accommodations, and other guest-paid experiences tied to branded family entertainment destinations.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueTicket and pass revenue from amusement parks and water parks.
Food, beverage, merchandise, games, and other guest purchases inside parks.
Hotel, resort, and accommodation revenue tied to park visits and stays.
Premium access, add-ons, and other guest-paid upsell products.
Licensing, design, development, and management fees from branded projects.
Products
Reported · share of revenue- Admission51.1 %
- Food Merchandiseand Gaming33.5 %
- Accommodations Extra Charge Products and Other15.4 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
The company serves families and young guests, especially ages 12 through 24, who are drawn to rides, live entertainment, and short-distance regional leisure trips. It also sells to season pass holders, day visitors, and resort guests who want bundled entertainment, food, and lodging in a single destination. Corporate sponsors and brand partners are an additional customer group for co-marketing and sponsorship programs.
Buy admissions, food, and bundled park experiences for affordable out-of-home entertainment.
Buy thrill-oriented park access and premium experiences centered on rides and attractions.
Purchase passes and return visits, supporting repeat attendance and recurring park traffic.
Buy accommodations and longer-stay packages tied to park destinations.
Buy sponsorships and co-marketing placements linked to park brands and guest traffic.
Strategy
The company is focused on improving guest value, attendance, and per-capita spending while using pricing, marketing, and product refreshes to strengthen park-level performance. It is also pursuing portfolio optimization and capital investment to concentrate on higher-return assets, reduce complexity, and support a more flexible operating base.
Higher attendance drives admissions, food, merchandise, and lodging revenue across the park network.
Pricing and product mix changes can lift revenue per guest without requiring new parks.
Resorts and sponsorships diversify revenue away from pure gate admissions.
A more focused park base can reduce capital intensity and liability exposure.
Geography
Q1/2026The company operates primarily in the United States, with additional parks in Mexico and Canada. Its park network is spread across major regional markets in North America, which makes local attendance, weather, and drive-time catchment areas important to performance. The business also has exposure to imported rides and equipment, plus currency and operating risks in Canada and Mexico.
Share of the revenue the company reports by geography.
Risks
The business is exposed to attendance volatility, weather, seasonality, and consumer spending patterns because most revenue is concentrated in peak operating months. It also faces integration, cybersecurity, labor, insurance, and supply-chain risks, including imported ride sourcing, tariffs, and specialized manufacturing dependencies.
- Seasonality and weather dependenceImpact: HighLikelihood: High
A large share of annual attendance and revenue occurs in the second and third quarters, so bad weather can materially affect results.
Exposure: Peak summer operating months
- Integration of the combined companyImpact: HighLikelihood: Medium
Combining park systems, processes, and cultures can delay synergies and create execution risk.
Exposure: Post-merger operations
- Cybersecurity and data privacyImpact: HighLikelihood: Medium
The company stores payment and personal data, making breaches potentially costly and reputationally damaging.
Exposure: Guest and employee data systems
- Supply-chain and tariff exposureImpact: MediumLikelihood: High
Rides and attractions are sourced globally and may be affected by tariffs, trade policy, and shipping disruptions.
Exposure - Labor and insurance cost inflationImpact: MediumLikelihood: High
Park operations rely on seasonal labor and are exposed to wage, insurance, and general inflation pressure.
Exposure: Park operating expenses
Accounting
Judgemental itemsRevenue and attendance are concentrated in peak quarters, so interim results are not evenly comparable across the year.
Impact: Quarterly revenue, EBITDA, and operating leverage
Large park and brand assets require periodic impairment testing and can generate significant noncash charges.
Impact: Reported earnings and equity
Mergers and park acquisitions require fair value allocation of assets and liabilities, affecting future depreciation and amortization.
Impact: Balance sheet values and future expense recognition
Park properties and related facilities may involve significant lease commitments and right-of-use assets.
Impact: Debt-like obligations and operating expense presentation
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Last updated: 24/09/2026