Six Flags Entered Purchase Agreement with Affiliates of Premier Parks to Acquire Lease Rights to Operate Five Parks owned by EPR Properties
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Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company, today announced it has entered into a purchase agreement with affiliates of Premier Parks, LLC to acquire the lease rights to operate five parks owned by EPR Properties (NYSE: EPR). The parks have previously been operated by Premier Parks, LLC of Oklahoma City. These latest acquisitions will expand the company’s portfolio of North American parks to twenty-five.
“Today’s announcement represents another milestone in our strategic North-American growth initiative to seek out park acquisitions that expand our addressable market,” said Six Flags Chairman, CEO, and President, Jim Reid-Anderson. “These are all fantastic properties that complement our existing portfolio and provide tremendous added value and cross-visitation opportunities for our extensive Membership and Season Pass base.”
The parks joining the Six Flags family are:
- Wet n’ Wild Splashtown, Houston’s largest waterpark, with more than 48 lush acres and a wide selection of thrilling waterslides and attractions, along with two children’s areas;
- Wet n’ Wild Phoenix, the largest waterpark in Arizona (located in the Adobe Dam Recreation Area), featuring 35 acres of high-speed slides and two pools, and also offering a Wet n’ Wild Jr. section with kid-friendly versions of some of the park’s most thrilling attractions;
- Darien Lake near Buffalo, NY, a beautiful resort property located on approximately 1,000 acres that includes a theme park, waterpark, campground, hotel, and a 21,000-seat amphitheater;
- Frontier City, an iconic part of the Oklahoma City landscape, is steeped in tradition. The park features a western theme and offers an extensive lineup of exciting rides, attractions, and shows geared to every member of the family; and
- White Water Bay, near Frontier City, a tropical oasis with more than 25 acres of waterslides, interactive water play areas, and pools.
Six Flags is the largest regional theme park operator in the world and upon closing of the transactions, will be the largest waterpark operator in North America. With the addition of these five properties that entertained approximately two million guests in 2017, there will be an additional 20 million guests within a 100-mile radius of a Six Flags park, significantly expanding the company’s national footprint.
“We are thrilled to welcome these outstanding properties and employees into our family of parks and look forward to sharing the thrill of Six Flags with guests of all ages in these key markets,” added Reid-Anderson.
Closing of the transactions contemplated by the agreement is expected to occur in June, 2018 and is subject to customary closing conditions.
Credit: Street Insider