Schlitterbahn owner, Six Flags will merge to create $8 billion mega-amusement park company
One of Texas' most popular summer attractions has changed hands.
The owner of Schlitterbahn Waterparks & Resort, Cedar Fair, announced a merger with Arlington-based Six Flags in November. As a result, Schlitterbahn will be among more than 40 parks and nine resorts owned and operated by the combined company, which is valued at $8 billion, according to a news release from Cedar Fair.
The merger is meant to enable the companies — two of the biggest players in the amusement park sphere — to combine forces to attract more visitors and skirt possible financial turmoil recently experienced by the entertainment industry.
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The companies' merger allows the new entity to offer guests a more diverse range of experiences and attractions. Citing the minimal overlap between the companies' parks, Cedar Fair also said the merger would likely "mitigate the impact of seasonality and reduce earnings volatility through a more balanced presence in year-round operating climates."
Schlitterbahn owns waterparks in New Braunfels and Galveston. Cedar Fair acquired Schlitterbahn in 2019 for $261 million, at which time 1.2 million people visited Schlitterbahn and generated $68 million in revenue for the company, according to a news release from Cedar Fair.
This article originally appeared on Austin American-Statesman: Schlitterbahn owner, Six Flags merge to create $8B theme park company
