Amusement Park News

Six Flags is showing a mixed bag of good news and bad to the public right now. Negative news first: the company is looking at additional park closures as the company recently revealed that they experienced a $1.2 billion quarterly loss. They attribute these losses to a shortfall in return on investments in advertising and underperforming parks.

According to CEO and president Richard Zimmerman, “Our efforts to stimulate demand did not achieve the desired returns and our decision to shift to more advertising spend earlier in the year in an effort to drive consumer awareness further impacted third quarter results, particularly at our underperforming parks.”

And if that news was not heavy enough, the park is also currently involved in a federal class-action lawsuit that accuses Six Flags and its top executives of misleading investors about deteriorating park conditions before the company's merger last year with Cedar Fair parks.

The lawsuit was filed in early November by the Livonia, Michigan, municipal pension fund which attests that Six Flags concealed the poor state of its amusement parks despite enthusiastically speaking about its prospects for growth.  

But instead of the espoused exponential growth, after the July 2024 merger with Cedar Fair, Six Flags reported having a sharp rise in operating costs and disappointing earnings, even as the merger resulted in the creation of the largest regional amusement park operator in North America.

According to the lawsuit, the merger statement filed with the U.S. Securities and Exchange Commission was “negligently prepared and presented an overly optimistic view” of the benefits of the deal with Cedar Fair. In short, Six Flags said they were poised for transformational growth, yet deferred making basic repairs in infrastructure and reduced staff. Named in the lawsuit are Six Flag executives Selim Bassoul and CEO Richard Zimmerman, both of whom orchestrated the merger, and have now said they'll step down.

In mid November, Six Flags stock dropped from $55 per share to as low as $16, with investors claiming losses in the hundreds of millions, and the lawsuit seeking compensatory damages and legal fees.

Zimmerman noted in a recent 3rd quarter earnings call that the company had “fallen short” of expectations and cited a drop in attendance rates.

Six Flags Chief Financial Officer Brian Witherow explained that the downturn in attendance began after Labor Day, and that the company saw a 5% attendance drop at that time. He says that “softer-than-expected demand in September offset much of the momentum we had built in July and August.”

These disappointing results and the company's decision to sell off some smaller parks belies the commitment made by Six Flags last year to invest over $1 billion in the next two years across all of its 42 theme parks.

That said, Six Flags certainly has some promising new attractions coming up. In 2026, Six Flags Over Texas will open what it calls the world's tallest, fastest, and longest dive coaster, Tormenta Rampaging Run. The ride was designed by Bolliger & Mabillard, and it will also be the world's first giga dive coaster, rising 309 feet in height. Guests will ascend to that height and then plunge down to a record breaking, beyond vertical, 95-degree drop. Tormenta Rampaging Run will reach a whopping top speed of 87 miles per hour along a track that stretches 4,199 feet.


 
The ride is themed to Spain's running of the bulls, and this behemoth will rise over a new Spanish village created by the park, dubbed Rancho de la Tormenta , which will also house a new dining experience, the Cocina Abuela restaurant. The immersive village will feature vibrant décor and the sounds of Spanish music, setting the mood for riders and diners alike. The restaurant will serve a variety of Spanish dishes, including patatas bravas – crispy potatoes in a spicy red sauce; Spanish rice; and chicken tinga, which is a shredded chicken dish in a smoky sauce that includes tomatoes, onion, and chipotle peppers.

Six Flags over Texas VP and park manager Mark Boyer states that the park has “always been a leader in creating unforgettable experiences, and with Tormenta Rampaging Run we are soaring to new heights," both literally and figuratively. He adds that "This coaster is a true testament to our commitment to providing world-class thrills and innovation.”

According to Sophie Bolliger, president of Bolliger & Mabillard, "As the world's first giga dive coaster, Tormenta Rampaging Run introduces a completely new ride category, blending giga coaster heights with the fun and thrill of a dive coaster." She describes other ride highlights as including the highest ever Immelmann inversion which ascends 218 feet, and the world's tallest vertical coaster loop, which spans 179 feet. "This level of innovation sets new standards for the theme park industry and our company is honored to be part of this historic moment with Six Flags," she asserts.
 
Overall, despite the recently filed lawsuit and disappointing third quarter results, Six Flags still has big plans for its parks, including new, described as record-breaking water rides at Carowinds and Canada's Wonderland; a new family thriller planned for Kings Island; and a coaster dubbed the first of its kind in North America for its Southern California park Six Flags Magic Mountain. Also planned: a record-breaking launch coaster at Six Flags Great Adventure; the arrival of a family thrill boomerang coaster at Six Flags Mexico; and a big water park refreshing for Knott's Soak City, as well as a new children's area and other park improvements at Six Flags Great America.