Six Flags Review: as the largest regional display park company in the world, they create thrilling, memorable experiences within the portfolio of their regional parks.
All this is done with the help of the diversity of their company’s team via industry-leading innovation and technology.
According to research, Six Flags has entertained millions of people including families with world-class coasters, nice water parks adventure, and special attractions for not less than 60 years.
They had up to $1.5 billion of revenue over the previous years, including 27 parks across North America, especially in the United States & other related locations in North America.
With this little preview of the company, let’s dive into the main issue of today’s article, but before we proceed let’s consider the outlines of this article.
In this article, we will be looking at the company’s overview, services they offer, and some recent news gotten from the company’s report over the past years.
Six Flags Review | Company’s Overview
Six Flags is a company with a mission to create fun & thrilling services for friends and families, and a vision to be a preferred destination for entertainment, and to be everybody’s choice.
According to the previous year’s report, Six Flags made sure that the health & status condition of their stakeholders remains paramount, with a dedication to running the company in a sustainable & inclusive way.
On their Strategy reports, the company claims to impact profitable growth, reassessing the aspect of their business. Also, the company has developed an updated strategy to ensure constant evolve in exceeding their customer’s expectations.
Moreover, to support their strategy they’ve developed 3 consecutive focus areas in their field of operation:
- Modernizing the guest experience with Technology
- Non-stop improvement in their operational efficiency
- Driving Financial Excellence into their Organization
Modernizing Guests Experience with Technology
Here, Six Flags are to create a seamless in-park experience with new and improved technology applications and opportunities for special and personalized interactions in parks.
Moreover, they will reduce wait times where possible, especially for our roller coaster where we are testing many virtual queuing and reservation applications.
They will facilitate customers’ ability and desire to share their experiences on social networks.
Additionally, they will also improve the quality of the food and drinks and the overall appearance of the park. In all they do, they chose to put the customer experience first.
Six Flags Review – Non-stop Improvement in their Operational Efficiency
In this aspect among the three focuses that will be applied to their strategy, they choose to provide products and services at a higher cost but in an effective manner, including effectively deploying the workforce at the fleet level; Leveraging their scale to increase purchases Strongly, and optimize their route catalog.
Moreover, they will also be focusing on the aspect of increasing the number of passengers on their trips, because as well as our food and beverage outlets.
We’ve moved quickly to streamline our organization and reduce another 4,444 fixed costs, and we expect to achieve $30-35 million in fixed cost savings by last year (2021). The performance measure for their area of priority would be their operating expense ratio.
Driving Financial Excellence into their Organization
In this aspect, they chose to be disciplined about how to allocate capital to ensure they deliver long-term earnings growth. Below are the following capital allocation priorities the company offers:
- First, you can invest in their core business to facilitate profitable and sustainable growth. This includes investments in their fleet infrastructure, fleet technology, and the systems that help them to monitor their fleet activities.
- This also includes investments in new games and attractions, as well as other services within the park. Such as food and drink.
- Also, they plan to maintain our annual capital expenditure at 9-10% earnings.
- Another is using free cash flow after capital expenditure to pay off debt and bring their net leverage back 3 to 4 times.
- Also, they are within their target leverage range; therefore, you can consider strategic acquisition opportunities.
- Further, developing their network of parks in the region.
- Finally, if there are no acquisition opportunities that meet our financial and strategic performance thresholds, they are ready to return excess cash flow to shareholders through dividends or share buybacks.
Six Flags Review – About the CEO & a Brief History on Six Flags
Earlier, I stated some information you can get about the company and the company’s strategy in attaining their focus mission in the Business sector of their organization.
Therefore, in this section, we will consider the person who runs this great entertainment company, and how the company came about.
About The CEO/Founder
Angus Wynne is the main founder of Six Flags, he will be proud of the company’s rise to a preeminent position in the home entertainment industry. Wynne created a new foundation when he opened the first Six Flags Park, Six Flags over Texas, in 1961.
The founder related with other pioneers around him and applied his thoughts to create a new form of home entertainment.
He envisions large parks in the area but close to where people reside, making them practical and affordable.
About Selim Bassoul
Bassoul is the former President, CEO, and President of Middleby Corporation. During Mr. Bassoul’s period of presidency, Middleby became the world’s leading manufacturer of high-end industrial and home appliances.
There was an increase in revenue from $100 million to $2.7 billion, operating profits from its cashew business, which adjusted from $12 million to $535 million, and market capitalization from $100 million to over $6 Billion.
He holds a Bachelor of Business Administration from the American University of Beirut and an MBA in Finance and Marketing from Northwestern Kellogg School of Management.
About Ben Baldanza
Baldanza is currently the CEO of Diemacher LLC.
Diemacher LLC is consulting firm that helps companies restructure, increase revenue and reduce costs. He is the former CEO, Chairman, and Director of Spirit Airlines, an ultra-low-cost airline.
Under his leadership from 2006 to 2016, Spirit Airlines grew revenue from $500 million to $2.1 billion and grew from an unprofitable business to a profitable airline.
Baldanza held positions of increasing responsibility in finance, marketing, and revenue management.
He is currently a director of JetBlue Airways Corporation and previously served on the board of Frontier Airlines, Inc., and Spirit Airlines, Inc. He has a B.A. from Syracuse University and an M.P.A. from Princeton University.
Six Flags Review: the Scare Returns – Six Flags Fright Fest
Six Flags Review: Fright Fest provides thrills during the day and scares at night. During the day, little ghosts and elves can enjoy Trick-or-treat trails, storytelling, interactive dance parties, and snaps with Looney Tunes characters in Halloween costumes. Incentives vary by park and attire is allowed for guests within the age bracket of 12 and below.
At night, the park is half transformed into a smoky maze of strange sights and sounds. The Scarier-than-life theme and innovative special effects come together to create haunted attractions worthy of a movie. Fright Fest is scary, it is NOT recommended for children under the age of 12, after 6 pm.
The main sponsor of Fright Fest is SNICKERS®, which is responsible for bringing scary haunted houses, Trick-or-Treat trails, and the annual Very Important Zombie Sweepstakes to guests across countries.
For a limited period only, patrons at select parks can also enjoy special Fright Fest food and drinks such as Funnel Scream Cake with SNICKERS®, Fright Fest favorites or Frightening Fanta® Fizz drinks Freshly made with Fanta® Orange, candy corn, whipped cream, & sauce, packaged in a limited edition souvenir mug.
With this written article, we are sure that you now have the insights of Six Flags Entertainment Corporation.