Six Flags declares ‘Great Reset,’ shares goals through 2028
Six Flags Entertainment Corporation revealed several key points of focus during its Investor Day event in Sandusky, Ohio, on May 20, 2025. The presentation provided a comprehensive and forward-looking view of the newly merged Six Flags and Cedar Fair companies.
Held at the historic Hotel Breakers at Cedar Point in Sandusky, Ohio, the event marked a milestone nearly a year after the merger of the entertainment companies. CEO Richard Zimmerman and other executives presented their strategic roadmap, highlighting the strength of the combined company, the ongoing progress of integration, and a clear vision for growth through 2028.
“I will tell you the more we got comfortable looking at the combined company, the more what we saw was that there was great value we could create, and that we could do things as a combined company that neither legacy company could do on their own,” Zimmerman stated.
He continued, “It’s clear that the new Six Flags is stronger and more strategically positioned than either legacy company. This is a fundamentally different and fundamentally stronger company.”
Looking to the future of Six Flags
The new Six Flags, now the leading regional amusement park operator in North America, serves 42 parks and reaches nearly 250 million potential guests. Executives reaffirmed a strong belief in the value of regional “icon” parks like Cedar Point, highlighting their resilience and growth potential, even during economic downturns.
A primary focus was the ambitious goal of reaching 58 million in annual attendance and $3.8 billion in revenue by 2028. The next 18 months were dubbed the “Great Reset,” where streamlining, debt reduction, and reinvestment are prioritized.
Six Flags growth relies on customer satisfaction
Christian Deekman, chief commercial officer, expanded on the revenue growth strategy. He identified attendance and in-park spending as the two core growth drivers. Market analysis revealed major attendance gaps at underperforming parks like Six Flags Magic Mountain and Six Flags Over Georgia compared to stronger performers like Knott’s Berry Farm and Carowinds.
Enhancing guest satisfaction is key to narrowing these gaps. The company aims to attract more visitors via enhanced CRM systems, regional season passes, and consistent capital investment in new rides, family attractions, and seasonal events like Fright Fest.
Other opportunities for growth
Food and beverage revenue is another growth pillar. By upgrading dining experiences and focusing on creative, themed items like Halloween “blood bags,” Six Flags aims to increase transactions per guest. They plan 11 new renovated food locations this year and another 50 in coming years. Retail and premium offerings like cabanas and bundled products are also being expanded due to their high margins and alignment with higher attendance.
Portfolio optimization plays a supporting role. While all parks will operate in the 2025 season, the company is evaluating potential asset sales, particularly of parks with limited growth upside. However, executives stressed that deleveraging does not depend on asset sales. Instead, the top 15 locations will be the core growth focus.
Season passholders expected to visit more often
Six Flags expects to recapture 10 million lost visits by 2028, returning to pre-pandemic attendance levels. More than 80% of this growth will come from expanding the season pass base and increasing the frequency of visits. While per-capita revenue from season passholders is lower per visit, their overall annual spend is significantly higher due to multiple visits and consistent in-park spending.
The projected revenue growth is driven largely by volume, not pricing. For in-park revenue (food, merchandise, upgrades), 90% of growth is expected from more transactions and higher average spend per transaction. For admission revenue, 75% will come from increased ticket volume. This “volume-first” approach will also support pricing power as parks become “comfortably crowded.”
Cost management and guest improvements
Six Flags Entertainment plans to reduce operational costs by $60 million in both 2025 and 2026, focusing on labor efficiencies, procurement, and operational calendar changes. From 2027 onward, costs are expected to grow at or below inflation. Parks will focus on reallocating labor and operating days to maximize guest impact without harming guest satisfaction.
The company plans to reinvest 12–13% of net revenue into park infrastructure, new rides, and guest experience improvements. This includes significant upgrades to food and beverage offerings and technology like mobile apps and Wi-Fi.
Outlook and investor confidence
The final presentation at the 2025 Six Flags Entertainment Investor Day, delivered by the company’s financial leadership, laid out the strategy for revenue growth, cost optimization, and achieving long-term shareholder value through the newly merged Six Flags and Cedar Fair entities.
The team reiterated its 2028 goals: 58 million visitors, $3.8 billion in revenue, and $1.5 billion in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) with 40% margins. The company is ahead of schedule on early targets and believes its unified leadership, CRM tools, capital planning, and loyalty initiatives will drive consistent long-term growth.
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