The Six Flags chain is selling seven of its parks to EPR Properties, a real estate investment trust. 

The $331 million transaction announced Thursday includes the following parks:

  • Valleyfair 
  • Worlds of Fun
  • Michigan’s Adventure
  • Six Flags St. Louis
  • Six Flags Great Escape
  • Six Flags La Ronde
  • Schlitterbahn Waterpark Galveston

Since its 2024 merger with Cedar Fair, Six Flags has repeatedly discussed selling off what it called “non-core assets” to pay down its debt. The first park affected was Six Flags America, which was closed last November to sell off its land for redevelopment.

Six Flags President and CEO John Reilly said in a statement: “Consistent with our strategy, this divestiture enables us to concentrate our capital, leadership and operational focus on the properties that we believe generate the strongest returns and offer the greatest long-term upside. Since joining the Company, I have been clear that Six Flags’ earnings power has been under-realized. This transaction will simplify our portfolio, strengthen our balance sheet and position us to execute with greater clarity and discipline.” 

The sale was telegraphed in January when trademarks were filed for several of the properties, rebranded as “Enchanted Parks.” That’s the name of the Windermere, Florida-based company that will be operating six of the parks for EPR. (La Ronde, located in Montreal, will be operated by a separate entity called La Ronde Operations, Inc., according to the CBC.)

Enchanted Parks founder and CEO James Harhi said in a statement, “Families will continue to see the parks they know and love — the rides, the seasonal events, and the people who make each visit special. Behind the scenes, our experienced team will be focused on making every visit safer, smoother and more enjoyable.”

Harhi told Amusement Today magazine that Enchanted Parks has a 40-year agreement to operate the parks. He added that he expects to take control of the parks in the next 30 to 60 days. “They are in much better shape than if you read the headlines in the newspaper,” Harhi said. “There is definitely some investment to be made to get consistent ride times up. That’s going to be a big push of ours as we’ve looked at the guest reviews.”

According to Six Flags, the seven parks collectively had 4.5 million visitors in 2025, generated $260 million in revenue and $45 million in adjusted earnings. 

Some of the parks included in the sale have long histories with the company. Six Flags St. Louis is one of the three original Six Flags parks, having opened in 1971, while Valleyfair was the second park in the Cedar Fair chain after Cedar Point, providing the “Fair” in the former company’s name. 

However, few of these parks have seen major investments in recent years. Only three of the sold properties have added new roller coasters during the last 10 years (2023’s Rookie Racer at Six Flags St. Louis and Zambezi Zinger at Worlds of Fun, and 2024’s Bobcat at Six Flags Great Escape.) 

For the 2026 season, little is expected to change at the sold parks. In a separate blog post, Six Flags says that all seven parks will still honor their existing season passes and memberships for this year. EPR Properties also maintains the right to use the Six Flags brand for 2026. 

“We’re confident the parks will be in good hands with EPR and its partners, who have strong experience operating parks of this quality and scale,” Reilly said. “At the same time, this move allows Six Flags to concentrate on the parks that we believe offer the greatest opportunities for growth and long-term success.”

Editor’s Note: This article was updated after publication to include a statement from Enchanted Parks and comments from its founder and CEO.