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Six Flags Entertainment reported first quarter Revenue of $133 million, Net Loss of $83 million, and Adjusted EBITDA loss of $26 million for 2024. Despite a decrease in total revenue compared to 2023, the company sees a promising start to the 2024 season with increased season pass sales and pre-booked group sales. The company remains focused on delivering a world-class experience for guests and is excited to launch new rides and attractions for the peak summer season.
Cedar Fair reported solid first-quarter results with increased net revenues, attendance, and out-of-park revenues. The company completed a debt refinancing and declared a cash distribution of $0.30 per LP unit. Despite a net loss of $133 million, Cedar Fair remains optimistic about the positive trends for 2024. The proposed merger with Six Flags is progressing well, and the company continues to work with the Department of Justice on the review process. Cedar Fair's performance in the first quarter of 2024 showed improvements compared to the same period in 2023, despite additional costs related to the merger.
Cedar Fair, L.P. (NYSE: FUN) announced the successful closure of a $1.0 billion term loan B and a $300 million revolving credit facility. The company used the proceeds to redeem its outstanding notes due in May 2025 and to refinance its existing credit facility. The transaction was executed well due to strong market demand and financial performance. The new credit facilities will provide flexibility and favorable rates, with Goldman Sachs as the lead arranger.
Cedar Point's record-breaking Top Thrill 2 roller coaster, the world's tallest and fastest triple-launch strata coaster, opens to the public on May 4. The coaster features two 420-foot-tall track towers, an immersive racing experience, and speeds reaching up to 120 mph. Cedar Point continues its legacy of roller coaster innovation with this new addition, offering thrills for the whole family.
