| "Six Flags" redirects here. You may be looking for Six Flags Entertainment Corporation. |
Six Flags Theme Parks, Inc. (SFTP), originally Six Flags Corporation, is a regional theme park company that was founded by Angus G. Wynne, Jr. in 1961, upon the opening of Six Flags Over Texas. Six Flags Theme Parks was a fully-owned subsidiary of Six Flags Entertainment Corporation (formerly Premier Parks), who purchased the company from Time Warner in 1998. Little is known about the purpose of the company following the Premier Parks acquisition besides it holding the trademarks for various intellectual property and being used for financial reasons. Its current status is unknown as of the 2024 merger between Six Flags and Cedar Fair.
History[]
In 1982, the corporate headquarters of the Six Flags Corporation moved from Chicago to Arlington, Texas. However, later on (pre-1998), they moved headquarters to Parsippany, New Jersey.
In October 1985, Dan Howells resigned as president of Six Flags Corp., leaving the company to join its parent, Bally Manufacturing, as executive vice president of its food service management division. Larry Cochran, executive vice president of Six Flags Corp., was given the interim title of president immediately following Howell's departure.[1]
On April 1, 1998, it was announced that Time Warner had sold Six Flags Theme Parks to Premier Parks for $1.86 billion.
On April 22, 2020, Six Flags Entertainment Corporation announced amidst the ongoing COVID-19 pandemic that its subsidiary Six Flags Theme Parks had "closed its private offering of $725 million aggregate principal amount of senior secured notes". The net proceeds from the offering would be used "to repay indebtedness and the remaining amount for general corporate matters and working capital purposes, including expenses relating to the transaction". The second amendment to SFTP's credit facility, which became effective the day of the announcement, "permitted the issuance of the senior secured notes including specifically, permitting the senior secured notes to mature earlier than SFTP's term loan facility", "suspended the senior secured leverage ratio financial maintenance covenant in the credit facility through the end of 2020", and "re-established the financial maintenance covenant thereafter and added a minimum liquidity covenant that will apply from the date of the amendment through December 31, 2021."[2]
Properties[]
These properties were owned and/or operated by Six Flags Theme Parks prior to the company's acquisition by Premier Parks.
Theme parks[]
| Name | Location | Opened | Acquired | Closed | Notes |
|---|---|---|---|---|---|
| Six Flags Over Texas | Arlington, Texas | 1961 | N/A | N/A | The original Six Flags theme park, and the first of the three original parks built by the Great Southwest Corporation. |
| Six Flags Over Georgia | Austell, Georgia | 1967 | N/A | N/A | The second Six Flags theme park built by the Great Southwest Corporation. |
| Six Flags St. Louis | Eureka, Missouri | 1971 | N/A | N/A | The third Six Flags theme park built by the Great Southwest Corporation. Originally known as Six Flags Over Mid-America until 1996. |
| Six Flags AstroWorld | Houston, Texas | 1968 | 1974 | 2005 (following the Premier Parks acquisition) | Originally known as AstroWorld until 1975. |
| Six Flags Great Adventure | Jackson, New Jersey | 1974 | 1977 | N/A | Originally known as Great Adventure until 1977. |
| Six Flags Magic Mountain | Valencia, California | 1971 | 1979 | N/A | Originally known as Magic Mountain until 1979 |
| Six Flags Great America | Gurnee, Illinois | 1976 | 1984 | N/A | Originally known as Marriott's Great America until 1984. |
| Six Flags Fiesta Texas | San Antonio, Texas | 1992 | 1995 | N/A | Originally known as Fiesta Texas until 1996. |
Water parks[]
| Name | Location | Opened | Acquired | Sold | Notes |
|---|---|---|---|---|---|
| Six Flags Atlantis | Hollywood, Florida | 1982 | 1984 | 1989 | |
| Six Flags Hurricane Harbor | Valencia, California | 1995 | N/A | N/A | |
| Six Flags Hurricane Harbor | Arlington, Texas | 1983 | 1995 | N/A | Originally owned by Wet 'n Wild |
Other properties[]
| Name | Location | Opened | Acquired | Closed/Sold | Notes |
|---|---|---|---|---|---|
| Movieland Wax Museum | Buena Park, California | 1962 | 1970 | 1985 | |
| Six Flags Stars Hall of Fame | Aurora, Ohio | 1975 | N/A | 1984 | |
| Six Flags AutoWorld | Flint, Michigan | 1984 | N/A | 1985 | |
| Six Flags Power Plant | Baltimore, Maryland | 1985 | N/A | 1987 | |
| Admiral | St. Louis, Missouri | 1987 | c. 1987 | 1987 | Entertainment center repurposed from an excursion steamboat. |
Executive management[]
Presidents[]
- Luther D. Clark (1960s–1970)
- Ned DeWitt (1973–1982)
- Dan Howells (1982–1985)
- Larry Cochran (1985–1991)
Chief Executive Officers[]
- Dan Howells (1982–?)
- Larry Cochran (1987–1991)
- Bob Pittman (1991–1995)
- Larry D. Bouts (1995–1998)
Chairmen of the Board[]
- Victor Palmieri (1959–1977)
- Michael E. Gellert (1989–1994)
- Bob Pittman (1991–1995)
- Larry D. Bouts (1995–1998)
References[]
- ↑ Minerals Firm Taps Ex-Heller President Toll. Chicago Tribune (October 17, 1985).
- ↑ Six Flags Entertainment Corporation (April 22, 2020). Closing of $725 Million Senior Secured Notes Offering and Amendment to Credit Facility by Six Flags (Press release). Six Flags. Archived from the original on April 22, 2020.
