Cedar Fair and Six Flags are merging to create an expansive amusement park operator with operations spread across 17 U.S. states and three countries.
FILE - Visitors wearing masks ride on a roller coaster at Six Flags Magic Mountain on its first day of reopening to members and pass holders in Valencia, Calif., on April 1, 2021. are merging to create an expansive amusement park operator with operations spread across 17 U.S. states and three countries.
Cedar Fair reported an attendance of 12.4 million guests in its third quarter, a 1% increase from a year earlier. Six Flags announced a 16% rise in its third-quarter attendance, which totaled 9.3 million guests., including Six Flags, have struggled to get people through the gates, said James Hardiman at Citi Investment Research.
Six Flags and Cedar Fair have talked about potential deals before, with Six Flags previously making an offer for Cedar Fair in 2019, but it was turned down. SeaWorld approached Cedar Fair with a bid last year, but that proposal was also rejected. Our merger with Six Flags will bring together two of North America's iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance," Cedar Fair CEO Richard Zimmerman said in a prepared statement.
The company's newly formed board will include six directors from Cedar Fair and six directors from Six Flags.
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