Is Six Flags Magic Mountain losing money?

Is Six Flags Magic Mountain losing money? The company had a net loss of $70 million in first quarter 2023, compared to a net loss of $66 million in first quarter 2022. The loss per share was $0.84 compared to a loss per share of $0.76 in first quarter 2022, driven by higher operating costs partially offset by an increase in revenue.

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 6 flags failing?

Total revenue sank 9% year over year in the first nine months of 2022, and net income was down 23%. Six Flags' attendance has fallen below what the company views as an optimal level, and per-guest spending will need to continue to rise considerably to make up for it.

How much does Six Flags make per day?

How much does Six Flags make a day? Six Flags makes $3.7M in a day. In a single month, Six Flags normally makes close to $113.2M in revenue.

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 6 Flags losing money?

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 to get banned from 6 flags?

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.

Why is Six Flags getting sued?

Six Flags sued by California man after fire on Mr. Freeze ride traps riders in their seats. In April 2022, seven people were treated after an electrical malfunction caused smoke inside the Mr.

Is Six Flags losing business?

The company had a net loss of $70 million in first quarter 2023, compared to a net loss of $66 million in first quarter 2022. The loss per share was $0.84 compared to a loss per share of $0.76 in first quarter 2022, driven by higher operating costs partially offset by an increase in revenue.

How much debt is Six Flags in?

Balance Sheet and Capital Allocation As of January 1, 2023, the company had total reported debt of $2,381 million , and cash or cash equivalents of $80 million .

Is Six Flags a good stock to buy?

Six Flags has a conensus rating of Moderate Buy which is based on 4 buy ratings, 4 hold ratings and 1 sell ratings. The average price target for Six Flags is $27.00. This is based on 9 Wall Streets Analysts 12-month price targets, issued in the past 3 months.

Why is Six Flags struggling?

Six Flags reported a stunning 26% drop in attendance last year when compared to 2021, which is amazing when you remember that several of its parks, including Six Flags Magic Mountain, were closed for part of that year. Lower attendance drove continuing declines in revenue, income and earnings for Six Flags last year.

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).