How much has Six Flags revenue falls dragged by low attendance?
How much has Six Flags revenue falls dragged by low attendance? Six Flags has reported a 21 percent decline in revenue driven by lower attendance in its financial results for the third quarter of 2022. Revenue for Q3 2022 decreased by $133 million (21 percent) compared to the same period in 2021. This was due to lower attendance but offset by higher per capita spending.
Why is Six Flags so famous?
Throngs flocked to Six Flags Over Texas when the park opened in 1961. Six themed sections, modeled after the culture of the six countries whose flags flew over Texas during the state's colorful history, created a spectacular and magical setting for guests — and provided the park's name.
Is Six Flags declining?
Six Flags Entertainment Company has reported its financial results for the fourth quarter of 2022 and the full year, revealing a decline in revenue due to lower attendance. For the fourth quarter of last year, Six Flags reported revenue of $280 million, net income of $13m, and record adjusted EBITDA of $99m.
Why did Six Flags almost go out of business?
Six Flags became only the latest company to prove unable to cope with its debt load at a time when previous solutions like refinancings are largely unavailable. The theme park operator, which had $2.4 billion in debt, faced nearly $300 million in payments to preferred stockholders due in August.
Why is the Joker closed Six Flags?
The two roller coasters are back running after safety inspections conducted by park officials and the state Department of Community Affairs. The Joker closed Wednesday after a guest reported a head injury, Six Flags spokesperson Kristen Fitzgerald told PhillyVoice.
Why is Six Flags in debt?
Six Flags has historically relied on debt financing to invest in capital projects like new rides at its properties, and the cash flow constraints during the pandemic made its leverage more severe.
Who is Six Flags biggest competitor?
The main competitors of Six Flags Entertainment include Cedar Fair (FUN), Super Group (SGHC), Madison Square Garden Entertainment (MSGE), Rush Street Interactive (RSI), SeaWorld Entertainment (SEAS), Golden Entertainment (GDEN), Xponential Fitness (XPOF), Madison Square Garden Sports (MSGS), International Game ...
Why is Six Flags Over Texas?
Six themed sections, modeled after the culture of the six countries whose flags flew over Texas during the state's colorful history, created a spectacular and magical setting for guests — and provided the park's name.
What is Six Flags debt to equity?
Six Flags Entertainment Debt to Equity Ratio: -2.363 for June 30, 2023.
Is Six Flags losing popularity?
But, these numbers are all positive, so why is Six Flags losing money? It's because attendance is dropping faster than revenue is rising. In 2021, Six Flags' total attendance was 27.7 million, but that fell by 26% to 20.4 million. Sure, guests are starting to spend more, but it's not enough to make up for the decline.
How many Six Flags are in the world?
Six Flags includes 27 theme parks across the United States, Canada and Mexico.
Was Six Flags sued?
In Rosenbach v. Six Flags Entertainment Corporation, the Plaintiff – the mother of a fourteen-year-old boy – sued Six Flags Entertainment Corporation under the Illinois Biometric Privacy Act (BIPA).