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Six Flags sheds nearly two million customers in the last year and shares tumble 18% as park overhauls target market and stocks plummet: CEO sounds OFF, saying, 'We became a cheap day care center for teenagers'
Daily Mail (U.K.) ^ | August 12, 2022 | Wister Hitt

Posted on 08/12/2022 9:37:01 AM PDT by Cecily

A shocking year at Six Flags ends in the loss of nearly two million customers and a collapse in stock value.

The world's largest theme park operator reported the loss in attendance following the implementation of an initiative to lessen the presence of 'rowdy teenagers' in their parks, according to the company's CEO Selim Bassoul.

The Texas-based theme park's shares tumbled 18% to $21.12 Thursday after it disclosed attendance at its 27 parks was down 22% from this time last year, which is wildly different when compared to Disney's reported 70% rise in park attendance year-over-year.

Bassoul, who was named CEO in 2021, blamed the drop partly on price hikes for admission in response to dishing out too many discounts last year.

'So, we only got the discounter or we became a day care center for teenagers,' and 'it was a cheap day care center for teenagers,' he said.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: Texas
KEYWORDS: anwr; bidenflation; disney; finance; investing; keystonexl; opec; selimbassoul; sixflags; texas
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To: mewzilla

https://www.marketwatch.com/story/disney-is-seeing-resilient-theme-park-attendance-despite-turbulent-economy-says-analyst-11655995822

Looks like it may be international guests making the numbers look better...


61 posted on 08/13/2022 10:13:00 AM PDT by mewzilla (We need to repeal RCV wherever it's in use and go back to dumb voting machines.)
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To: Cecily

They didn’t learn anything from their Astroworld park? Mostly empty dirt and concrete, looks like some may finally have been converted to car dealerships.


62 posted on 08/14/2022 11:35:35 AM PDT by PAR35
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To: Cecily

Went to one of the Busch parks near Williamsburg a few years ago. I don’t know what it’s like now, but more rides than Disney and a lot cleaner (and nicer crowds) than Six Flags.

Be warned - don’t go to the State Fair of Texas on High School Day. I looked up and was between the line of mounted police and the urban youths on the Midway. Managed to work my way around behind the horse.


63 posted on 08/14/2022 11:40:50 AM PDT by PAR35
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