Theme park fans may be surprised to learn that Six Flags isn’t the full owner of its first park, Six Flags Over Texas. That remains true thanks to a decision made at the end of 2025.
The Arlington, Texas park is technically owned by a separate limited partnership called the Six Flags Over Texas Fund, Ltd. Six Flags owns 54.1 percent of that partnership, according to its 2024 annual report.
A similar ownership structure was in place at Six Flags Over Georgia until 2024, when Six Flags exercised an option to acquire the remaining interests in that park. But instead of exercising the same kind of option in regards to Six Flags Over Texas by Dec. 31, 2025, Six Flags instead opted to do nothing.
Exercising the option to buy out the remaining 45.9 percent interest in the park from other owners would have required a payment from Six Flags by January 2028, which was “currently not in its best interest,” according to a Six Flags press release.
Six Flags president and CEO John Reilly, just a month into his role as the company’s leader, said in a statement: “This was a difficult and deliberate decision. Six Flags Over Texas is a foundational park in our system and a prized asset within our portfolio. While the contractual terms do not currently align with our capital allocation priorities, we remain deeply committed to the long‑term success of the park and believe it has a bright future as part of the Six Flags portfolio.”
The company is indeed investing in the Texas park. In fact, the largest ride addition of the 2026 season for the whole Six Flags chain is coming to Six Flags Over Texas with Tormenta Ramping Run, a 309-foot-tall dive coaster.
Six Flags as a whole has struggled in the wake of its merger with formal rival Cedar Fair 18 months ago. In the past year, the company’s stock price has declined by 67 percent, leading to the departures of its CEO and executive chairman, and it closed Six Flags America, which had been a part of the chain since 1998.