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Activist investor Land & Buildings is reportedly pressing Six Flags to consider selling or spinning off its real estate portfolio, which could be worth up to USD 6 billion. The amusement park operator, with a market capitalization of USD 2.1 billion, recently missed its second-quarter revenue targets and is preparing for a leadership change as CEO Richard Zimmerman plans to exit by year-end. Analysts indicate that monetizing these properties could unlock significant value, improve the company's financial position, and provide flexibility for future growth and operational improvements.
Activist investor Land & Buildings, holding a 2% stake in Six Flags, has reportedly urged the theme-park operator to evaluate the sale or spin-off of its real estate assets. Sources familiar with the matter indicated that the investor believes Six Flags' property portfolio could be valued at up to USD 6 billion, significantly higher than the company's current market capitalization. Advertisement
Six Flags currently has a market capitalization of around USD 2.1 billion, according to LSEG data. Neither Land & Buildings nor Six Flags Entertainment has publicly commented on the report, and independent verification of the information is still pending.
The company recently fell short of its second-quarter revenue expectations, highlighting operational challenges. Additionally, it was announced in August that CEO Richard Zimmerman would leave the company by the end of the year, marking a notable leadership change for the amusement park operator.
Industry experts suggest that monetizing real estate has become a strategic approach for companies to unlock value, especially when properties are located in prime areas. Analysts believe that a sale or spin-off could provide Six Flags with additional financial flexibility, helping fund growth initiatives, manage debt, or strengthen its balance sheet. The discussion over real estate also underscores the growing pressure from investors to evaluate all avenues for maximizing shareholder value.
Source Reuters
5th Jun, 2025
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