Six Flags’ Mounting Debt

Two Six Flags theme parks are looking to be sold to real estate developers to help the company get out of debt.  Six Flags faces fierce theme park competition in California where both of the theme parks facing sale are located. 

Also, chief executive Shapiro notes that Six Flags is moving toward a more family atmosphere across all of the parks, and is hoping that this new plan will boost attendance at the parks.  

The two Valencia parks have a high property value, and for that reason real estate developers are excited at the prospect of buying the land and creating homes and retail centers.  There is also the possibility that the parks will remain amusement parks and simply undergo a “facelift” of sorts, but many doubt that as a possibility as real estate developers will most likely out-bid any existing theme parks looking to acquire Magic mountain and Hurricane Harbor.  ■