The merger of Six Flags and Cedar Fair was officially completed on Monday, creating one giant amusement park corporation.
As part of the consolidation, Six Flags headquarters were moved from Arlington, Texas, to Charlotte, North Carolina, as previously reported by The Dallas Express. The finalized merger combines both amusement park companies into one worth approximately $8 billion. The new company, named Six Flags Entertainment Corporation, will now operate over 40 amusement and water parks. It will trade under the “FUN” ticker symbol on the New York Stock Exchange, per the company’s website.
Gary Rhodes, corporate director of communications for Six Flags, released a statement assuring park patrons that there will be no major changes anytime soon and that season passes and loyalty programs will still be honored this year.
“At this time we do not anticipate making any major changes at the park level or across the broader organization during the busy summer season,” he commented, per The Dallas Morning News. “Our top priority as we embark on the next chapter of our journey is to offer millions of guests across North America unparalleled, family-focused entertainment full of fun, thrills and lifetime memories. The park names and branding will remain the same, as will the 2024 season pass programs and any rewards/loyalty programs.
Rhodes also noted that the company could make changes to annual passes in the future.
“We believe there may be an opportunity in the future to offer expanded park access to season pass holders,” Rhodes explained.
On June 26, Six Flags announced via press release that it had met all regulatory conditions and the Department of Justice had given final approval for the merger.
“As our collective team pauses to recognize this important milestone, together we are eager to embark on the next chapter of our journey to offer millions of guests across North America unparalleled, family-focused entertainment full of fun, thrills and lifetime memories,” said Selim Bassoul, the former president and CEO of Six Flags, in the press release.
Following the merger, Bassoul transitioned into the role of executive chairman of the board of directors of Six Flags Entertainment Corporation.
Richard Zimmerman, the former CEO and president of Cedar Fair, has taken on the role of president and CEO of Six Flags Entertainment Corporation, as previously reported by DX. In a press release issued on July 1 announcing the completion of the merger, Zimmerman shared his sentiments on the company’s future.
“Our merger establishes a new Six Flags Entertainment Corporation with a highly diversified footprint and robust operating model, enhancing park offerings and performance through the complementary portfolio of attractive assets and intellectual property from each of Cedar Fair and the former Six Flags,” Zimmerman stated. “The combination also enhances the financial profile of the company with strong cash flow generation to accelerate investments in our parks to delight our guests, driving increased levels of demand and in-park value and spending.”
“We believe that by combining the best ideas and most successful entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can deliver a superior level of joy and excitement that has yet to be experienced by regional park guests,” Bassoul said. “We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our more extensive entertainment portfolio.”
The new company’s website hints at some of the upgrades and enhancements that amusement park visitors can expect to see in the future as a result of the merger.
“Our enhanced financial flexibility will enable us to invest in new rides, attractions, food and beverage options, and state-of-the-art consumer technologies,” the website states. “These investments are designed to grow attendance, increase per capita spending and enhance profitability, ensuring that each visit to our parks is more exciting and memorable than the last.”