The theme park company announced record revenue in the second quarter of 2017.
Six Flags Entertainment Corporation, the world’s largest regional theme park company, has announced revenue of $422 million, with adjusted EBITDA of $166 million. Revenue has increased $15 million (four percent) compared with the same period in 2016.
This has been driven predominantly by a five percent increase in attendance, bringing visitor figures to 9.5 million. There has also been an 18 percent increase in sponsorship and income from international licensing, said James Reid-Anderson, Chairman, President and CEO of Six Flags Entertainment Corp.
“We are the leading regional theme park company in the world operating in a very attractive industry with significant opportunity for organic growth,” said Reid-Anderson. “We have the best team in the theme park space, and I am confident that 2017 will be another record year for our shareholders as we deliver higher ticket yields, improved in-park revenue, attractive international licensing deals, new waterparks, and strong execution.”
Total guest spending per capita for the second quarter was $41.67, a decrease of $0.87 (two percent) compared to 2016. Ticket price gains were more than offset by a higher mix of season pass holder attendance. Admissions per capita decreased two percent to $23.36. In-park spending per capita decreased two percent to $18.31.
The company continues to succeed in upselling guests to season passes. There was a 12 percent year-over-year increase in the company’s Active Pass Base, representing the total number of guests who either possess a season pass or are enrolled in the company’s membership program.
In the first half of the current year, Six Flags invested $97 million in new capital projects. The company paid $113 million in dividends ($0.64 per common share per quarter). It also repurchased $379 million of its common stock.
The Six Flags chain started in 1957. It has now grown to become the largest amusement park company in the world, based on the number of properties owned. It is ranked fifth in the world in terms of attendance.