Six Flags Entertainment Corporation says its merger with Cedar Fair Entertainment Company has now formed the "largest" amusement park operator in North America, with a new combined portfolio of 42 parks across the U.S., Canada and Mexico.
The merger, which was completed Monday, puts the estimated value of the company at $8 billion and "brings together the strengths of both companies, combining Cedar Fair’s reputation for delivering exceptional guest experiences with Six Flags’ innovative ride and attraction designs," according to a statement from Six Flags Entertainment Corporation.
"Our enhanced financial flexibility will enable us to invest in new rides, attractions, food and beverage options, and state-of-the-art consumer technologies," it added. "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."
Cedar Fair, prior to the merger, said it operated 11 regional amusement parks, four water parks and two sports destinations. Those included Cedar Point in Sandusky, Ohio – a roller coaster enthusiast destination – Dorney Park in Pennsylvania, Kings Dominion in Virginia and Knott’s Berry Farm in California, among others.
People ride the Wonder Woman Flight of Courage roller coaster at Six Flags Magic Mountain in Valencia, Calif., in July 2022. (Hans Gutknecht/MediaNews Group/Los Angeles Daily News via Getty Images / Getty Images)
Six Flags Entertainment Corporation says Richard Zimmerman, the president and CEO of Cedar Fair, will carry over his role to the new combined company, while Six Flags president and CEO Selim Bassoul will become the executive chairman of its Board of Directors.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FUN | CEDAR FAIR | 52.38 | -2.07 | -3.81% |
Powered By | ||||
DOLLYWOOD EDGES OUT DISNEY FOR FAVORITE THEME PARK, SURVEY FINDS
Millennium Force, one of the 18 roller coasters at Cedar Point in Sandusky, Ohio. (Tricia Spaulding/Lexington Herald-Leader/Tribune News Service via Getty Images / Getty Images)
The company also says it will trade under the ticker symbol FUN on the New York Stock Exchange and will be headquartered in Charlotte, North Carolina, "with significant finance and administrative operations maintained in Sandusky, Ohio."
Visitors ride the roller coaster Scream at the theme park Six Flags Magic Mountain in April 2021, in Valencia, Calif. (Valerie Macon/AFP via Getty Images / Getty Images)
CLICK HERE TO READ MORE ON Gxstocks
Together, it added that its combined park portfolio "allows us to reach more guests than ever before, offering unique and immersive experiences that cater to all ages and entertainment preferences."
