In a definitive move to optimize its North American portfolio, Six Flags has officially completed the sale of six US parks to EPR Properties. This key deal marks a strategic shift for the industry giant, with Enchanted Parks USA taking over operations while maintaining the Six Flags brand through 2026.
The transaction, valued at approximately $331 million, is a cornerstone of the company’s post-merger portfolio optimization strategy.
The Divested Portfolio
The six US properties included in the completed transaction are:
- Valleyfair (Shakopee, MN)
- Worlds of Fun (Kansas City, MO)
- Michigan’s Adventure (Muskegon, MI)
- Schlitterbahn Waterpark Galveston (Galveston, TX)
- Six Flags St. Louis (Eureka, MO)
- Six Flags Great Escape (Queensbury, NY)
A seventh property, La Ronde in Montreal, Quebec, is expected to complete its transition to EPR in the second quarter of 2026, pending final regulatory approvals.
Operations and Branding Transition
Under the terms of the agreement, the real estate investment trust (REIT) EPR Properties has partnered with Enchanted Parks USA to manage and operate the parks.
To ensure stability for the 4.5 million annual guests these parks collectively serve, Six Flags has granted EPR and Enchanted Parks the rights to utilize the Six Flags brand name and associated intellectual property through the end of the 2026 season.
"This divestiture reflects Six Flags’ disciplined approach to portfolio optimization," said John Reilly, President and CEO of Six Flags. "By concentrating our capital and operational focus on properties with the greatest long-term growth potential, we are positioning the company to execute more effectively in 2026 and beyond."
Impact on Guests and the Industry
For the B2B community and industry professionals, the move signals a clear strategy by Six Flags to lean into an asset-light model for certain regional mid-tier assets.
For the 2026 season, the transition is expected to be seamless for the public:
- Passes & Memberships: All 2026 season passes and multi-park privileges will be honored at the sold locations.
- Operating Schedules: No changes have been made to the published 2026 calendars.
- Staffing: Enchanted Parks USA has indicated a commitment to maintaining local leadership teams to preserve the operational expertise at each location.
Looking Ahead
As EPR Properties expands its footprint in the experiential real estate sector, industry eyes will be on how Enchanted Parks USA evolves these key brands once the licensing agreement for the Six Flags name expires after 2026. This latest divestment provides Six Flags with significant liquidity, which the company intends to use for debt reduction and in high-ROI investments in its flagship parks.
