Six Flags Is Still Shopping for Small Theme Park Players
Photo Credit: Visitors ride a roller coaster at Six Flags St. Louis in this promotional photo. Parent company Six Flags Entertainment wants to buy theme and water parks within driving distance of its existing sites as one way to fuel growth. Six Flags St. Louis
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Six Flags is expanding overseas and looking to grow in its own back yard while selling visitors on higher-priced passes, a strategy that shows the regional theme park operator is trying to cover all its bases.
Even as Six Flags Entertainment is making deals around the world, the regional theme park operator is looking to buy some assets closer to home.
During a call with analysts Wednesday, CEO Jim Reid-Anderson said the company wanted to accelerate a previously announced strategy to buy water parks and theme parks near properties it already owns. It acquired and rebranded two water parks, in California and Mexico, last year.
"There are dozens of parks within reasonable driving distance of our existing portfolio in the U.S., and these parks generate hundreds of millions of dollars of revenue," he said. "As with the two recently acquired parks, we will seek to acquire water parks and theme parks at low prices and then realize substantial revenue and cost synergies."
Part of the reason for adding nearby parks is to give attendees reasons to keep coming back — to upgrade from one-time visitors
