Six Flags Entertainment Corp., based in Charlotte and parent company of Carowinds, has agreed to sell seven of its amusement parks for $331 million.
The sale to real estate investment firm EPR Properties is part of Six Flags’ strategy to simplify what the company owns, strengthen its operations on parks with growth potential and pay down debt. The transaction is expected to close by the end of the first quarter or beginning of the second quarter, Six Flags said Thursday.
The deal comes two weeks after Six Flags reported a challenging 2025, posting a net loss of $1.6 billion.
“This sale allows us to focus our money, leadership and operations on the properties that we believe generate the strongest returns,” Six Flags President and CEO John Reilly said in Thursday’s announcement. Reilly replaced Richard Zimmerman, who resigned amid significant revenue losses and a slump in attendance at its amusement parks.
When the deal to sell 17% of its parks is complete, Six Flags will operate its remaining 34 parks across 23 locations in North America, including Carowinds. The 400-acre amusement park that straddles the North Carolina and South Carolina border in Charlotte and Fort Mill.
When the park opens March 14, it will be Carowinds’ second season under Six Flags ownership following the 2024 $8 billion merger of its former parent company, Cedar Fair, and Six Flags.
The sale better positions Six Flags to invest in new rides and attractions, upgrade park infrastructure and technology and enhance experiences with immersive entertainment at remaining parks like Carowinds, company spokesman Gary Rhodes told the Observer on Friday.
Six Flags Entertainment Corp., based in Charlotte and parent company of Carowinds, show, has agreed to sell seven of its parks to EPR Properties for $331 million. Charlotte Observer file
More details about the Six Flags parks’ sale
The Six Flags parks that are part of the sale are:
- Valleyfair in Minneapolis
- Worlds of Fun in Kansas City, Missouri
- Michigan’s Adventure in Grand Rapids, Michigan
- Schlitterbahn Waterpark Galveston in Galveston, Texas
- Six Flags St. Louis in St. Louis
- Six Flags Great Escape in Queensbury, New York
- Six Flags La Ronde in Montreal
Collectively, these parks served approximately 4.5 million visitors last year, bringing in about $260 million in sales and $45 million in profit, Six Flags said.
EPR will team up with two groups to run them. Enchanted Parks will manage the six U.S. parks, and La Ronde Operations Inc. will run Six Flags La Ronde in Canada. EPR can continue to use the Six Flags name and all Six Flags season and multi-park passes will be accepted this year.
EPR has about $5.7 billion in assets across 43 states and Canada, according to the firm, including tenants such as Regal movie theaters and TopGolf.
Changes made at Carowinds
Last year, Six Flags said it was making changes at Carowinds as part of the plan to invest more than $1 billion over two years at its theme parks with upgrades, including new restaurants and menus.
At Carowinds, Six Flags removed legacy rides, including Nighthawk, Drop Tower and Scream Weaver.
Carowinds added two rides, Snoopy’s Racing Railway and Charlie Brown’s River Raft Blast. The park also added its first adults-only attraction, Paul Metto’s Boathouse Bar featuring a 3,577-square-foot pool with a swim-up bar. New celebrations were added like Summerbration and Viva La Festa, plus the returns of SCarowinds, Oktoberfest and WinterFest.
Six Flags’ decision to sell seven of its parks means the Charlotte-based company and Carowinds owner will be able to invest more deeply in the parks with the greatest opportunity for growth and innovation. Courtesy of Carowinds/Barry Cantrell
A new water ride was expected to open this year at Carowinds but Six Flags spokesman Chris Foshee told The Charlotte Observer “there are no new attractions to announce at this time.” Carolina Harbor Waterpark is scheduled to reopen May 23.
Six Flags has about 155 jobs at its Charlotte office, and Carowinds will have around 2,700 total employees at peak season.
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Catherine Muccigrosso
The Charlotte Observer
Catherine Muccigrosso covers retail, banking and other business news for The Charlotte Observer. An award-winning journalist, she has worked for multiple newspapers in the Carolinas, Missouri and New York.
