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Credit: Inside The MagicAccording to reports, the Six Flags and Cedar Fair merger is off to a great start, as a markup cost has been removed from all of its parks effective immediately.
Six Flags Merger to Purge Markup Cost Across All Theme Parks Effective Immediately
According to a WGN Morning News reporter out of Chicago, the unpopular $1.30 surcharge that was implemented across all purchases throughout every theme park part of the merger has officially been removed. The upcharge was implemented to keep up with labor and supply costs, but it has now formally been purged. The news came just a few hours ago.
GOOD NEWS! The $1.30 surcharge on all purchases at Six Flags Great America @SFGreat_America and all Six Flags legacy parks is officially GONE!
I am told they are in the process of being removed throughout the park today. 🎉 🙌 pic.twitter.com/yyjI67ahl6
— Marcus Leshock (@marcusleshock) July 19, 2024
GOOD NEWS! The $1.30 surcharge on all purchases at Six Flags Great America @SFGreat_America and all Six Flags legacy parks is officially GONE! I am told they are in the process of being removed throughout the park today.
Cedar Fair, the parent company of Cedar Point and Kings Island, has successfully merged with Six Flags, creating a new entity known as Six Flags Entertainment Corporation.
According to a press release issued Monday, each park within the combined portfolio will retain its existing branding, with no planned changes to park names. The newly formed Six Flags Entertainment Corporation will commence trading on the New York Stock Exchange under the ” FUN ” ticker starting on July 2.
Under the merger agreement, Cedar Fair unitholders received one share of Six Flags Entertainment Corporation’s common stock for each unit owned. In contrast, former Six Flags shareholders received 0.5800 shares of common stock for each share owned.
Richard Zimmerman, who previously served as CEO of Cedar Fair, will lead the merged company. “Today marks a significant milestone for our company, shareholders, guests, and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences,” Zimmerman stated.
He highlighted that the merger enhanced the company’s operational model, park offerings, and financial profile, driving increased demand and in-park spending. Selim Bassoul, former President and CEO of Six Flags will serve as executive chairman of the combined company’s board of directors.
Bassoul expressed optimism about the merger, stating, “We believe that by combining the best ideas and most successful entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can deliver a superior level of joy and excitement.”
Six Flags Entertainment Corporation now stands as North America’s largest regional amusement resort operator, with 27 amusement parks, 15 water parks, and nine resort properties across 17 U.S., Canada, and Mexico states. The company is committed to annually providing millions of guests with fun, immersive, and memorable experiences, featuring world-class coasters, themed rides, and a portfolio of beloved intellectual properties such as Looney Tunes, DC Comics, and PEANUTS.
In addition to Zimmerman and Bassoul, the combined company’s senior management team includes Tim Fisher as Chief Operating Officer, Brian Witherow as Chief Financial Officer, Brian Nurse as Chief Legal and Compliance Officer and Corporate Secretary, Christian Dieckmann as Chief Strategy Officer, and Gary Mick as Chief Integration Officer.
Zimmerman expressed confidence in the leadership team, citing their extensive experience and expertise in park operations and business integration.
The merger between Cedar Fair and Six Flags, creating the new Six Flags Entertainment Corporation, promises significant enhancements for guests visiting parks nationwide. By combining resources and expertise, the company aims to elevate the quality of attractions and services, providing visitors with a broader range of thrilling rides and immersive experiences.
This strategic consolidation is set to enhance the overall guest experience, ensuring that each visit to a Six Flags park is filled with excitement and enjoyment.
With the merger, Six Flags Entertainment Corporation can leverage both legacy companies’ best practices and innovative ideas. This synergy is expected to accelerate investments in park improvements and new attractions, allowing for a continuous refresh of offerings.
Guests will benefit from upgraded facilities, improved customer service, and more efficient park operations, all contributing to a more enjoyable and seamless park experience.
Additionally, the expanded portfolio of parks under Six Flags Entertainment Corporation will offer guests more diverse entertainment options. Including popular intellectual properties such as Looney Tunes, DC Comics, and PEANUTS ensures a wide variety of themed experiences catering to different age groups and interests.
This merger strengthens the company’s position in the amusement park industry and enhances its ability to deliver memorable and high-quality entertainment to millions of visitors each year.