(Bloomberg) — Six Flags Entertainment Corp., the theme-park operator, met with an activist investor advocating for a sale or separation of the company’s real estate holdings but said its own plan is working.
(Bloomberg) — Six Flags Entertainment Corp., the theme-park operator, met with an activist investor advocating for a sale or separation of the company’s real estate holdings but said its own plan is working.
“The board, with its advisers, routinely evaluates potential options to unlock shareholder value, including the potential monetization of real estate,” the company said Wednesday. “Six Flags is encouraged by the early signs of progress against its strategic plan and remains focused on delivering an exceptional guest experience to drive sustainable, long-term earnings growth.”
Land & Buildings Investment Management, a Six Flags shareholder, distributed a presentation on Wednesday advocating for a separation of the company’s real estate as a way of boosting value.
Six Flags shares rose 12% to $23.40 as of 2:42 p.m. in New York. The stock was down 51% this year through the close Tuesday.
The company’s new chief executive officer, Selim Bassoul, has been pursuing a strategy of raising ticket and meal plan prices, while investing in the parks, to boost profits.
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