Six Flags is selling seven of its parks to EPR Properties for $331 million in cash.
Back in January, we flagged a series of trademark applications from an Orlando-based LLC called Enchanted Parks Holdings and connected those filings to the parks now being sold. This week, it became official. EPR is buying the real estate, Enchanted Parks is stepping in as the management company for six of the properties, and Kieran Burke — Six Flags' CEO before the company's 2009 bankruptcy — is picking up La Ronde through his own company. Full circle.
We break down the deal structure, what the 7.3x EBITDA multiple tells you about the buyer pool, why Six Flags called $331 million only "slightly beneficial" to its leverage ratio, and whether EPR and Enchanted Parks just became a new competitor in the regional park space.
Also this week: San Fransokyo Street aboard the Disney Adventure, Royal Caribbean's smart glasses policy, and more.

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