Six Flags Entertainment Corporation has confirmed plans to close or sell more of its theme parks in the future.
The company revealed it is looking at "underperforming" parks in its portfolio during a third-quarter earnings call on Friday (7 November).
This came after the closure of Six Flags America in Maryland on 2 November. The park is to be marketed for redevelopment and was shut as part of Six Flags' ongoing portfolio review.
In the post-earnings call, Six Flags' chief financial officer Brian Witherow said the company is "reevaluating" its parks.
"I think we already have a pretty good idea of which are the low-hanging fruit when it comes to non-core versus strategic assets going forward" he added.
Six Flags is "going to prioritize certain parks over other parks", Witherow said.
Six Flags "reevaluating" park portfolio
Last July, Six Flags completed a merger with Cedar Fair to form the largest operator of amusement parks in North America.
Witherow said during the earnings call: "In a bigger company where we're trying to narrow our focus and shrink our capital needs and our risk or liability closures, getting the portfolio smaller and more nimble is a priority.
"So we're going to look at the parks where our returns are the greatest, where the opportunities for growth are the highest, and we're going to focus on those parks and the other parks we'll look to monetize and use those proceeds to reduce debt."
As for Six Flags' financial results for the three-month period ending 28 September, the company has reported attendance of 21.1 million guests, a 1.1 percent increase compared to the same period last year.
Net revenue was $1.32 billion, down $31 million or 2 percent compared with the third quarter of 2024.
Images courtesy of Six Flags
