DiamondbackFan

Herschend rumors intensify for Fiesta Texas and Dorney Park.

Sold https://wjla.com/news/local/six-flags-prince-georges-maryland-kevin-durant-tpa-35v-basketball-entertainment-zoning-entertainment-theme-park-washington-dc-mixed-use-iconic-family-adults-public-input

https://investors.sixflags.com/news/press-releases/press-release-details/2026/Six-Flags-Completes-Sale-of-Six-U-S--Parks-to-EPR-Properties/default.aspx

No

https://investors.sixflags.com/news/press-releases/press-release-details/2026/Six-Flags-Entertainment-Appoints-Richard-Haddrill-as-Executive-Chairman-of-the-Board-of-Directors/default.aspx

Plus the Nebulaz, Wave Swinger, and Flying Scooters from SFA and a relocated Swashbuckler within the park.

https://www.reuters.com/sustainability/sustainable-finance-reporting/jana-partners-pushes-six-flags-explore-sale-replace-board-chair-letter-says-2026-03-17/

They own 56.1% as of March 3rd and are expected to own just under 70% by the time the share buybacks are completed. They are now in the monetize the real estate phase of extracting value from the company.

"A new six-story hotel tower in front of the current hotel building, facing Kings Island Drive. The hotel will have 24 three-bedroom suites and be connected to the existing hotel. The hotel will be 75 feet tall, as tall as the waterpark, and will be visible from Kings Island Drive. Removal of 55 parking spaces to make room for the new tower."

Some new trademark applications by Enchanted Parks. (see attached image) EDIT: Found a trademark for Enchanted Parks Great Escape Lodge. This appears to be a park sale to Innovative Attraction Management and they are rebranding these parks and the parks in Old Forge, NY that they purchased in 2024 to the Enchanted Parks brand.

They buy time, but are replacing 2027 Notes at 5.375% and 5.5% interest with one at low-to-mid 9% interest. From Bloomberg: "Six Flags Entertainment Corp. is planning to sell $1 billion of dollar bonds in the riskiest tier of the junk market, testing investor appetite for the second such deal this week with CCC ratings. The US amusement park operator is offering the six-year notes at low-to-mid 9%, with the proceeds earmarked to refinance debt due next year, according to a person with knowledge of the matter." https://www.bloomberg.com/news/articles/2026-01-06/park-operator-six-flags-taps-market-for-1-billion-in-junk-debt

Six Flags will probably opt to renew or extend the the Texas Partnership and still has majority ownership of the Texas partnership. By declining the buyout, they can avoid taking on another $344.2 million in debt to pay for the buyout. The End-of Term Option from the last quarterly report: https://d18rn0p25nwr6d.cloudfront.net/CIK-0001999001/6109e747-0c95-451d-91e6-6687f18de9f3.pdf

This is such a bad take. You might want to do some research on John Reilly and what he accomplished while he was at SeaWorld Parks and Resorts and Palace Entertainment/Parques Reunidos.

We might get a new CEO announcement soon. https://finance.yahoo.com/news/jana-partners-provides-six-flags-131500178.html "NEW YORK, Nov. 13, 2025 /PRNewswire/ -- JANA Partners LLC ("JANA"), which along with its partners collectively own an economic interest of approximately 9% in Six Flags Entertainment Corporation (NYSE: FUN) ("Six Flags" or the "Company"), today announced that Dave Habiger has de-grouped from the JANA-led investor group to enable him to pursue a complementary opportunity involving the Company."

https://www.businesswire.com/news/home/20251112641518/en/Herschend-to-Acquire-Silverwood-the-Pacific-Northwests-Largest-Theme-and-Water-Park

Permit:

https://finimize.com/content/activist-investors-shake-up-six-flags-entertainments-boardroom https://investors.sixflags.com/news/press-releases/press-release-details/2025/Six-Flags-Appoints-Jonathan-Brudnick-to-Board-of-Directors/default.aspx

They probably couldn't find a buyer for these parks that wanted to operate them and will sell them for the land value. Herschend had to buy all of the Palace parks as a package, now they are unloading the parks they don't want. The Boomers parks in California, Castle Park, Raging Waters Los Angeles, and Wet 'n Wild Emerald Pointe were sold to Lucky Strike Entertainment. The Cartoon Network Hotel is dropping the license and being remodeled and rebranded to Dutch Wonderland Inn.

Activist investor, Land & Buildings, is pushing the company to sell off the land under the parks again. They sent out a letter to shareholders today. https://www.businesswire.com/news/home/20250925248557/en/Land-Buildings-Issues-Letter-Detailing-Why-Now-Is-the-Time-to-Finally-Unlock-Six-Flags-Substantial-Trapped-Real-Estate-Value

Siebert has been teasing a big project for 2027. At Winterfest he said B&M was involved. I wouldn't be surprised to see a hyper coaster in this location going around the water park and out by the parking lot.

From the FT92 Fan Event at Fiesta Texas: New "signature attraction" coming to Schlitterbahn New Braunfels in 2026

It sounds like that is part of the plan. Non core parks they own: Six Flags St. Louis, Six Flags Discovery Kingdom, Six Flags Great Escape, Valleyfair, Worlds of Fun, Michigan's Adventure, Schlitterbahn New Braunfels. La Ronde is a ground lease and Six Flags could sell all of the rides and operating rights there.

Ride Entertainment Systems Inc was on the last notice of commencement and they work with Lagotronics Projects. https://ohwarren.fidlar.com/OHWarren/AvaWeb/#/image https://www.lagotronicsprojects.com/en https://rideentertainment.com/lagotronics/

They are selling off the unused land around the park, but Kings Dominion isn't going anywhere. The non core parks that could be sold are properties they own that are not one of the 15 largest parks.

You can take the Canada's Wonderland 2026 project off the board. Six Flags 2026 capex is being reduced to $400 million. On the earning call, Zimmerman hinted at this project being delayed or cancelled because they don't think they have gotten the full benefit from the 2025 capex yet. Canada's Wonderland attendance is way up since AlpenFury opened and the coaster is a massive success.