Six Flags and Cedar Fair, Dorney Park's parent company, to merge in $8B deal

📆 02/11/2023 22:40:00
📰 ABC7NY

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Amusement parks have seen an uptick in revenue but have struggled to raise attendance since the pandemic, even as other entertainment sectors have bounced back.

It is not yet known what effect it could have on Six Flags Great Adventure in Jackson, New Jersey, or Dorney Park in Allentown, Pennsylvania.

"Whereas the theme park industry as a whole has been under significant pressure since the start of the pandemic, Six Flags has created additional pressure of its own, with a volatile new attendance and pricing strategy that has struggled to take root, alienating its core customers and leading to dramatic drops in visitation along the way," Hardiman wrote.

Under the agreement announced Thursday, Cedar Fair unitholders will receive one share of common stock in the combined company for each unit owned, while Six Flags shareholders will receive 0.5800 shares of stock in the combined company for each share owned. Zimmerman will be president and CEO of the combined company. Selim Bassoul, president and CEO of Six Flags, will become executive chairman.

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