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Six Flags Reports $1.6 Billion 2025 Loss on Non‑Cash Impairment

Higher per-guest spending offset weaker traffic only partially.

The owner of Six Flags Fiesta Texas and other Texas parks reported $3.1 billion in revenue last year compared with $2.7 billion in 2024. But the company’s net loss mushroomed to $1.6 billion, more than 600% larger than 2024’s $206 million.
A sign at Six Flags Fiesta Texas is seen in this file photo. The park’s parent company reported that the company’s net loss mushroomed to $1.6 billion, more than 600% larger than 2024’s $206 million.
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Overview

  • For the year, net revenues reached $3.10 billion with 47.4 million visits and Adjusted EBITDA of $792 million.
  • The $1.60 billion net loss largely reflects a $1.5 billion goodwill and intangibles impairment that does not affect cash flow.
  • In the fourth quarter, revenue fell 5% to $650 million as attendance declined 13% to 9.3 million on 11% fewer operating days (779).
  • On a per‑operating‑day basis, Q4 revenue increased 7% and attendance slipped 2%, with per‑capita spending up 8% to $66.41.
  • The Q4 GAAP net loss narrowed to $92 million from $264 million a year earlier, and the company ended 2025 with $5.1 billion of debt after refinancing 2027 notes in early January.