Six Flags St. Louis real estate to be sold to Kansas City-based EPR Properties in $331 million deal

Seven-park transaction includes Eureka amusement park property; operations expected to continue through the 2026 season

Six Flags Entertainment Corp. has reached definitive agreements to sell the real estate underlying Seven of its amusement and water park properties, including Six Flags St. Louis in Eureka, to EPR Properties, a Kansas City-based real estate investment trust focused on “experiential” venues. The total cash consideration is $331 million, subject to customary closing adjustments.

The transaction is structured as a property sale rather than an announced closure. Six Flags has said guests should not expect major operational disruption during the 2026 season, with season passes, memberships and multi-park products continuing to be honored through that period.

What the deal covers and what it does not

The agreements involve the sale of park properties—real estate assets that can be separated from day-to-day park operations. In practical terms, such arrangements typically mean one party owns the land and improvements while another operates the attractions under contract or lease terms. Six Flags has described the sale as part of a broader portfolio and balance-sheet strategy, rather than an exit from operating in the St. Louis region in 2026.

• Buyer: EPR Properties, headquartered in Kansas City, Missouri.

• Seller: Six Flags Entertainment Corp., the merged regional amusement park operator trading under ticker “FUN.”

• Scope: Seven park properties in total, including Six Flags St. Louis.

• Value: $331 million in cash consideration, with customary adjustments.

Why Six Flags is monetizing park real estate

Six Flags has pointed to financial and operational priorities behind the sale, including strengthening its remaining portfolio and improving financial flexibility. The company has also disclosed operational performance figures for the seven properties as a group: approximately 4.5 million guests in calendar year 2025, about $260 million in net revenue and roughly $45 million in adjusted EBITDA.

Separately, the company has faced heightened investor scrutiny in recent years, including activist pressure tied to broader turnaround expectations for attendance, pricing and guest experience across the chain.

What it may mean for the St. Louis market

For the St. Louis region, the immediate operational message is continuity through the 2026 season. The longer-term significance is that Six Flags St. Louis will have a new real estate owner, placing the park within an ownership model common in large-scale entertainment venues, where property ownership and park operations can be managed separately.

Six Flags has indicated the park will operate normally through 2026, including honoring existing pass products during that season.

The companies have not announced guest-facing name changes or closures as part of the transaction. Any operational changes beyond the 2026 season would depend on future agreements governing branding, operating rights, and capital investment—details that have not been publicly outlined in full at this stage.

The sale is expected to close in 2026, subject to customary closing conditions.