Six Flags reports record revenues for eighth year running

Six Flags has reported its eighth consecutive year of record financial performance with revenues rising 3% ($40m) to $1.4bn in 2017.

Attendance at Six Flags parks grew by 1% to 30.4 million visitors for the year, driven by the opening of two new water parks and season pass and membership sales.

The total number of guests who purchased a season pass or who enrolled in the company’s membership program, increased 10% to a new all-time high in 2017. Pass holders and members accounted for 63% of total visitation for the year.

The regional theme park operator attributes the growth in revenues to the success of its pricing strategy, international licensing programme and the increase in visitor numbers.

Net income for the year increased by $156m or 131%. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the full year grew to $519m, up 2% over 2016.

Jim Reid-Anderson, CEO of Six Flags, said: “I am very proud that we have achieved our eighth consecutive year of record performance in the face of unprecedented natural events.”

Solar power

Last month, the company announced that Six Flags Great Adventure would become the first solar-powered theme park in the world. It now plans to power two parks in California – Six Flags Discovery Kingdom and Six Flags Magic Mountain – almost entirely by solar power.

A solar power facility will be constructed at each park. When it becomes operational, the system at Discovery Kingdom will exceed seven megawatts of electricity generated. Magic Mountain’s system will have capacity for nearly 15 megawatts and will be the largest solar carport in North America.

“We are committed to making all of our properties more energy efficient and sustainable for years to come,” said Steve Purtell, Six Flags senior vice-president.

“California’s support of renewable energy, the solar potential in the state, and the environmental benefits associated with solar energy made this the right decision for our guests, our team members, and our communities.”