When Six Flags' newest roller coaster Siren's Curse opened in Ohio in June, it was supposed to thrill riders with its groundbreaking "tilt" feature that drops guests from 160 feet at a 90-degree angle. Instead, the ride has broken down repeatedly, stranding visitors at the top and forcing them to walk down narrow stairs to safety. Videos of riders evacuating went viral, turning what should have been a marketing triumph into an online punchline. The malfunctioning coaster perfectly captures Six Flags Entertainment's nightmare summer plagued by broken rides, construction delays, and declining attendance. As the summer comes to a close, the theme park chain is struggling to regain its footing.

Six Flags' troubles run deeper than just one cursed ride. The company, formed from a $2 billion merger between Six Flags and Cedar Fair in 2023, posted a 9% drop in attendance and its third consecutive quarterly loss in the latest quarter. Severe weather forced some parks to close completely, while promised new attractions like the Quantum Accelerator coaster were delayed until next year. CEO Richard Zimmerman blamed "short-term disruptions" including thunderstorms and excessive heat. (Zimmerman is stepping down from his position at the end of this year.) The company also faces intensifying competition from family-friendly parks like Peppa Pig Theme Park and Universal's upcoming Texas location, while Disney and Universal pour billions into high-tech attractions.

Despite the challenges, Six Flags is betting on a turnaround through strategic cuts and new investments. The company plans to close underperforming parks like Six Flags America in Maryland and sell excess land to reduce its massive debt load. Management points to bright spots like Canada's Wonderland, where the new AlpenFury coaster drove 20% higher attendance. Still, with 90% of earnings coming from just 15 parks and credit agencies downgrading the company's debt rating, Six Flags faces a critical test of whether it can compete in an entertainment landscape where families have countless options for their leisure dollars.

Questions:

  1. Why has Six Flags struggled to attract visitors to its parks this summer?

  2. Do you think Six Flags will be able to turn around its underperforming parks and compete with giants like Universal and Disney? Why or why not?