Six Flags completes sale of seven parks to EPR Properties
Six Flags has completed the sale of seven parks, including six in the United States and one in Canada, to EPR Properties in a $331 million deal. This finalizes a previously announced move to streamline its portfolio and focus on higher-performing destinations. (updated April 6, 2026)
EPR Properties owns a wide variety of “drive-to” attractions, including water parks, theaters, eat and play locations, and ski resorts. They list themselves as a “experiential real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues that create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money.”
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.)
• Six Flags La Ronde (Montreal, QC).
Six Flags says collectively, those parks saw approximately 4.5 million guests last year, generating approximately $260 million in net revenue. EPR is making the purchase for a gross transactional value of $342 million, of which the EPR provided approximately $315 million and the operating tenants provided the balance, including funds for working capital and capital improvements.
“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.
“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 the Enchanted Parks company to run the six domestic properties and La Ronde Operations to operate Six Flags La Ronde following the sale. EPR will be able to use the Six Flags name through this year, and they say there won’t be a significant impact on guests during the transition. The parks will continue their regular 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.
For more about how the sale affects guests, they have posted a FAQ on the official Six Flags Blog.
Six Flags CEO Reilly further stated, “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.”
Gregory K. Silvers, chairman and chief executive officer of EPR Properties said, “These properties embody the essential characteristics we seek: delivering stable, long-term cash flows, strong drive-to accessibility, multi-generational appeal, and significant underlying land value.”
Six Flags said it plans to operate its remaining collection of 34 parks across 23 locations in North America for the 2026 season. While ownership is changing, the guest experience is expected to remain largely the same in the near term. Any future updates will likely come gradually as new operators take shape.
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