Six Flags Entertainment Corporation announced that John Reilly will become its President and Chief Executive Officer, effective December 8, 2025. Reilly joins the company after a distinguished career in the amusement and recreation industry, most recently serving as CEO of Palace Entertainment U.S. and Group COO at Parques Reunidos. The appointment follows the merger of Six Flags and Cedar Fair, completed on July 1, 2024, which created the largest regional amusement park operator in North America with 42 parks.
Reilly’s experience in operational management and strategic growth is seen as a key asset for the company’s post‑merger integration. He has a track record of driving margin expansion and improving guest satisfaction at Palace Entertainment and SeaWorld Parks and Entertainment, and his leadership is expected to help the company execute its integration plan and drive profitability across its expanded portfolio.
Six Flags has revised its full‑year 2025 adjusted EBITDA guidance to $780 million to $805 million, down from the previous $860 million to $910 million range, reflecting concerns over integration costs and a more cautious outlook for park attendance. The company also reiterated its 2027 unlevered pretax free cash flow goal of $800 million and a modified EBITDA margin target of 35% or better, underscoring its long‑term focus on profitability.
The company’s Q3 2025 revenue of $1.32 billion fell short of some estimates, and analysts noted a bifurcation in park performance: roughly 70% of parks are outperforming, while 30% are underperforming. The underperforming parks are contributing to margin compression, and the company is exploring strategic options, including divestitures, to address the imbalance. Activist investor JANA Partners has joined forces with NFL star Travis Kelce to push for changes that could accelerate value creation.
Investors reacted positively to the leadership change, but concerns over the ongoing integration challenges, credit rating downgrades, and activist pressure tempered enthusiasm. The appointment is viewed as a step toward stabilizing the company’s operations and restoring confidence in its ability to meet long‑term financial targets.
Marilyn Spiegel, Chair‑elect of the Six Flags Board, said the company is at a “critical moment following the merger of Six Flags and Cedar Fair last year” and that Reilly’s experience would help “reinvigorate profitable growth at our underperforming parks.” Richard Zimmerman, the outgoing CEO, praised Reilly as the “ideal choice for the company’s next leader.” Reilly added, “I am honored to serve as Six Flags’ next President and CEO and look forward to working with the Board, leadership team, and talented associates to deliver results.”
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.