USA/China: Six Flags Announces Record Growth in Q1 2018 & Three New Parks Coming to China

After Six Flags Entertainment Corporation had already registered record results for the 2017 business year (cp. EAP news f. 23 Feb 2018), the US operator group is now closing the first quarter of 2018 with record results: Compared to the same period last year, the group announced that revenue increased by 30 percent to 129 million US dollars. The growth is primarily due to an increase of attendance – attendance at Six Flags properties grew by 27 percent (0.5 million guests) to 2.4 million guests. The success of the company’s pricing strategy and international licensing program also played a key role in revenue growth. The increase in attendance was driven, amongst others, by additional operating days at Six Flags Magic Mountain, now open 365 days a year, and a higher Active Pass Base, which represents the total number of guests who have purchased a season pass or registered for the company’s membership program.

The group also recently announced its intention to open three more new Six Flags-branded parks in China. Only last fall the company had announced (cp. EAP news of 16 Nov 2017) that three more parks (two Six Flags Kids World parks and one Six Flags Adventure Park) are to be added to the four Six Flags parks currently under construction in Haiyan (Zhejian province) and Bishan (Chongqing province) by 2020. Now the company targets to open three more parks in Nanjing (Jiangsu province), one of the largest cities in eastern China after Shanghai and Hangzhou. The multi-million entertainment complex, consisting of a theme park, a water park and an adventure park, is scheduled to open in phases. The first section is expected to open in 2021. (eap)