Six Flags is looking to reassure the public in the wake of its 2024 third-quarter earnings report, which led some experts in the park industry to suspect that the company may soon be closing some of its locations.
The report, which is the company’s first since its historic merger with Cedar Fair, highlights that overall park attendance totaled 21 million guests, and that the company’s net revenues totaled $1.35 billion. The key section of the report that caused speculation, however, states that one of the company’s long-term objectives is to “review the park portfolio over time, to optimize the asset base, narrow management’s focus, and help reduce net leverage,” as well as a “comprehensive review of the portfolio to evaluate the potential divestiture of non-core assets.”
This statement quickly led to rumors within the industry that Six Flags would potentially be closing some of its 42 amusement and water parks. When requested for comment, Six Flags spokesman Gary Rhoades reassured the press that this wasn’t the case. “We have no plans to close parks,” said Rhodes.
“Every park in our portfolio has a role. If it plays its role right, these are irreplaceable assets,” Six Flags CEO Richard Zimmerman told investors on an earnings call last week.
Though the company has no imminent plans to close any parks, progress has finally begun on the teardown of Six Flags New Orleans, which has been closed since the park was devastated by Hurricane Katrina in 2005.
