Six Flags Sells 7 Parks to EPR Properties in $331M Deal

Deal overview

On March 4, 2026, Six Flags announced definitive agreements to sell a portfolio of seven amusement and water parks to EPR Properties for $331 million in cash (gross transactional value of $342 million), with EPR providing roughly $315 million of the consideration. The transaction is structured so that EPR will own the real estate and use master lease arrangements to deliver returns while third‑party operators run day‑to‑day park operations. (Business Wire; EPR Properties).

Parks included in the sale

U.S. parks: Six Flags St. Louis (MO); Worlds of Fun (Kansas City, MO); Valleyfair (Minneapolis, MN); Six Flags Great Escape (Queensbury, NY); Michigan’s Adventure (Muskegon, MI); Schlitterbahn Waterpark Galveston (Galveston, TX). Canadian park: Six Flags La Ronde (Montreal, QC). The six U.S. parks will be operated by Enchanted Parks; La Ronde will be run by La Ronde Operations. (Business Wire / EPR Properties).

Why Six Flags is selling now

Six Flags framed the sale as an active measure to simplify its portfolio, strengthen the balance sheet and allow management to redeploy capital and leadership toward higher‑return parks. CEO John Reilly said the divestiture “enables us to concentrate our capital, leadership and operational focus on the properties that we believe generate the strongest returns and offer the greatest long‑term upside.” (Business Wire)

“Enables us to concentrate our capital, leadership and operational focus on the properties that we believe generate the strongest returns and offer the greatest long‑term upside.” — John Reilly, CEO, Six Flags

EPR Properties’ strategy

EPR, a real estate investment trust focused on experiential assets, called the acquisition a strategic fit and one of its largest transactions since 2017. CEO Gregory Silvers described the opportunity as a way to expand EPR’s attractions portfolio in established regional markets. EPR will own the real estate and use a master lease structure; it plans to partner with experienced operators rather than run parks itself. (EPR Properties)

“A compelling opportunity to expand our attractions portfolio with high-quality experiential real estate assets in established regional markets.” — Gregory Silvers, CEO, EPR Properties

Financial details and deal mechanics

The announced purchase price is $331 million in cash with a gross transactional value of $342 million. Six Flags said net cash proceeds, after taxes and transaction expenses, will be used to pay down corporate debt and allow greater concentration of capital on higher‑return properties. The seven parks produced about $260 million in net revenue and roughly $45 million in adjusted EBITDA in the prior year. The deal remains subject to closing conditions and third‑party approvals; Six Flags engaged Perella Weinberg Partners (financial advisor) and Weil, Gotshal & Manges LLP (legal counsel). (Business Wire)

Operational continuity and customer protections

Both companies emphasized minimal guest disruption. Parks will operate on regular schedules; all season passes (including multi‑park privileges tied to Six Flags) will be honored through the 2026 season. EPR negotiated limited rights to the Six Flags brand through the end of 2026 to ease the transition. (Business Wire)

Questions worth watching

• Capital investment: Will EPR and its operators invest in ride or park upgrades? EPR says it will support operators with capital but has not disclosed specific projects. (EPR Properties)
• Debt reduction: How much net cash will Six Flags realize after taxes and expenses? The company has said proceeds will be used to reduce debt but has not published the exact after‑tax net impact. (Business Wire)
• Workforce & operations: What staffing, payroll or benefit changes might follow the management transitions? Both companies say operations will continue uninterrupted through 2026, but administrative changes are possible.

Implications for Paso Robles, California

Economic and tourism effects

Though none of the sold parks are in Paso Robles, the transaction could matter locally. If Six Flags uses proceeds to strengthen its remaining portfolio, California parks under its control may be more financially stable—supporting consistent marketing and operations that can drive visitor flows from Central Coast communities like Paso Robles. Local hotels, restaurants and travel services stand to benefit if national chains operate reliably and invest in promotions. (Business Wire)

Fiscal and policy perspective

From a fiscal responsibility standpoint, selling lower‑return or non‑core assets to reduce leverage and reallocate capital is a common corporate strategy. Paso Robles leaders who prioritize private‑sector balance‑sheet discipline may view Six Flags’ actions as an example of debt management and capital focus. (Business Wire)

Business and investment opportunities

EPR’s acquisition highlights investor demand for experiential real estate and could open doors for regional operators, vendors and contractors in California to pitch services or partnerships on entertainment projects—seasonal festivals, family attractions or event programming that capture regional leisure spending. (EPR Properties)

Labor and employment considerations

While the deal does not directly affect Paso Robles jobs, it underscores workforce mobility and the value of hospitality training. Operators like Enchanted Parks may recruit seasonal staff from wide geographies—local workforce groups can emphasize retraining and hospitality skills to capture these opportunities. (Business Wire)

Local and national coverage

Local outlets and CBS affiliates reported summaries of the sale, repeating the parks involved and Six Flags’ rationale. Examples include regional CBS coverage summarizing the transaction and its stated goals. (CBS Des Moines report; CBS Albany report)

Sources and further reading

• Six Flags press release via Business Wire
• EPR Properties investor release
• CBS Des Moines local report
• CBS Albany local report

Reporting assembled from company releases and local coverage cited above.