Charlotte, NC —  Six Flags Entertainment Corporation has entered into definitive agreements to sell seven of its parks to EPR Properties (NYSE: EPR) (“EPR”) for $331 million.

The transaction represents a significant milestone in the Company’s disciplined portfolio optimization strategy and is designed to sharpen operational focus while further enhancing its liquidity position.

The parks included in the transaction are Valleyfair (Minneapolis, Minn.), Worlds of Fun (Kansas City, Mo.), Michigan’s Adventure (Grand Rapids, Mich.), Schlitterbahn Waterpark Galveston (Galveston, Texas), Six Flags St. Louis (St. Louis, Mo.), Six Flags Great Escape (Queensbury, N.Y.) and Six Flags La Ronde (Montreal, QC). Collectively, the parks entertained approximately 4.5 million guests for the full year ended Dec. 31, 2025, generating approximately $260 million in net revenue and approximately $45 million in Adjusted EBITDA. Cash proceeds, after taxes and transaction expenses, will be used to pay down debt.

Three of the parks (Valleyfair, Worlds of Fun, and Michigan Adventure were previously owned by Cedar Fair Entertainment, which merged in 2024 with Six Flags, which owned the other four. Valleyfair and Michigan Adventure featured 11 Peanuts-related rides each. The Six Flags parks featured Warner Bros. IP (Batman, Cat Woman, Joker and others).  One park, Six Flags Great Escape has a ride with Disney’s Alice in Wonderland IP, while Valleyfair has CBS Media Ventures’ Wheel of Fortune.

“Consistent with our strategy, this 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,” said Six Flags President and CEO John Reilly. “Since joining the Company, I have been clear that Six Flags’ earnings power has been under-realized. This transaction will simplify our portfolio, strengthen our balance sheet and position us to execute with greater clarity and discipline.”

Reilly continued, “By focusing our resources on the parks that we believe have the highest growth potential, we expect to drive operating leverage, expand margins and accelerate our cash flow generation.”

EPR plans to partner with Enchanted Parks to run the six domestic properties and La Ronde Operations, Inc., a company owned by Kieran Burke, to operate Six Flags La Ronde following completion of the transaction. EPR will retain the right to utilize the Six Flags brand through the end of 2026, subject to certain requirements, and no significant impact on guests is expected during this transition. The parks will continue their regular operating schedules, and all season passes sold will be recognized through the 2026 operating season, including multi-park pass privileges at other parks within the Six Flags’ portfolio.

Reilly concluded, “We know how much these parks mean to our guests and to the incredible teams who bring them to life every day. Decisions like this are never taken lightly. We’re confident the parks will be in good hands with EPR and its partners, who have strong experience operating parks of this quality and scale. At the same time, this move allows Six Flags to concentrate on the parks that we believe offer the greatest opportunities for growth and long-term success. Our goal is to continue creating amazing experiences for all our guests, and this agreement helps us stay focused on that commitment.”

Six Flags said it plans to operate its remaining collection of 34 parks across 23 locations in North America for the 2026 season.

The transaction is expected to close by the end of the first quarter or beginning of the second quarter, subject to the satisfaction of certain closing conditions and receipt of third-party approvals.