The Death of Six Flags Is Getting Ugly

Summary

The video script discusses Six Flags' history of poor decision-making, from the Time Warner fiasco to recent financial struggles under CEO Saleem Bass. Despite a record-breaking theme park industry in 2022, Six Flags failed to capitalize, due to Bass's strategy to make the parks 'premium' by raising prices, which backfired. In 2023, Bass adjusted the strategy, lowering prices and planning new thrill rides to attract visitors. Despite a 55% drop in net income, the outlook is cautiously optimistic as Six Flags aims to innovate and invest in its core strength: thrilling rides.

Takeaways

• 🎢 Six Flags has a history of poor decision-making, including a failed partnership with Time Warner and excessive spending on roller coasters that led to bankruptcy.
• 📉 In 2022, despite a surge in theme park attendance industry-wide due to pent-up demand, Six Flags failed to capitalize and instead experienced a significant drop in attendance and revenue under CEO Saleem Bass' new strategy.
• 💸 Saleem Bass attempted to reposition Six Flags as a premium destination by increasing prices, but this strategy backfired, causing a sharp decline in visitors and revenue.
• 🔄 In response to the backlash, Bass reversed course in 2023, lowering prices and initiating numerous sales, although the base prices remained slightly higher than pre-2022 levels.
• 📊 Six Flags' Q2 2023 results showed a 55% drop in net income, which was primarily due to a $38 million adjustment in self-insurance reserves, not a direct result of operational performance.
• 🤔 The large increase in self-insurance reserves raises questions about Six Flags' management, as it contrasts with industry norms and suggests mismanagement or oversight.
• 📈 Despite the net income drop, there are some positive signs, including a 2% increase in revenue and an 11% increase in July attendance, hinting at potential recovery.
• 🎢 Bass has shifted focus back to investing in new thrill rides, recognizing that this is the core strength and DNA of Six Flags, a change from previous strategies focusing on amenities.
• 💰 Capital expenditures for 2024 are projected to increase significantly, indicating a renewed commitment to enhancing the park experience through new attractions.
• 🎢 The company plans to retire older, high-maintenance rides and replace them with state-of-the-art thrill rides, aiming to excite the park's customer base.
• 🚀 Saleem Bass expressed optimism about Six Flags' future, with a renewed vision that includes innovation across various aspects of the business, and a goal of attracting 25 to 27 million guests annually by 2025.

Q & A

What is the main issue discussed in the script regarding Six Flags' business decisions?

The script discusses Six Flags' history of poor decision-making, particularly the recent strategy by the new CEO, Saleem, to turn Six Flags into a premium destination by increasing prices, which resulted in a significant drop in attendance and revenue.

What happened to Six Flags in the early 2000s that is considered a poor business decision?

In the early 2000s, Six Flags made a poor decision by selling to Time Warner, which eventually resulted in financial trouble and bankruptcy a few years later after spending a large amount of money on new roller coasters.

What was the theme park industry's situation in 2022 according to the script?

The script mentions that the theme park industry in 2022 experienced a surge in demand after the COVID-19 pandemic and shutdowns, leading to record-breaking revenues and attendance for most theme park companies, except for Six Flags.

What was the strategy that Saleem, the CEO of Six Flags, implemented in 2022 and why did it fail?

Saleem's strategy in 2022 was to increase prices to turn Six Flags into a premium destination like Disney or Universal. It failed because attendance dropped significantly, and revenue and net income decreased, making Six Flags' performance lag behind its competitors.

What was the initial reaction to Six Flags' Q2 2023 results?

The initial reaction to Six Flags' Q2 2023 results was shock and disbelief due to a 55% drop in net income, which was later explained by a $38 million adjustment in self-insurance reserves.

Why did Six Flags make a $38 million adjustment to their self-insurance reserves?

Six Flags made the adjustment due to a past settlement of $36 million to guests in 2021, which was not properly accounted for in their reserves. The increase is meant to cover potential future insurance claims and lawsuits.

What changes did Saleem make in response to the poor performance of Six Flags in 2022?

In response to the poor performance, Saleem dropped the prices, although they are still slightly higher than pre-2022 levels. He also initiated a large number of sales on season passes from October 2022 through May of the following year.

What was the attendance increase for Six Flags in the first half of 2023 compared to the previous year?

The attendance for Six Flags in the first half of 2023 increased by only 6% year-over-year, despite significant price drops and discounts.

What is Six Flags' plan for the future according to the script?

Six Flags plans to invest in new thrill rides and improve park maintenance, with capital expenditures expected to increase to between $200 to $220 million in 2024 and further to $230 to $250 million in 2025.

What is the expected impact of Six Flags' new strategy on their annual guest numbers by 2025?

With the new strategy focusing on thrill rides and park improvements, Six Flags expects to reach their goal of 25 to 27 million guests annually by 2025.

Outlines

00:00

🎢 Six Flags' History of Poor Decisions and 2022 Strategy

The script discusses Six Flags' history of poor decision-making, dating back to their sale to Time Warner in the early 2000s, which led to bankruptcy after excessive spending on roller coasters. The narrative continues with the company's 2022 strategy under new CEO Saleem Bass, who attempted to transform Six Flags into a premium destination like Disney or Universal by significantly increasing prices. This approach failed, resulting in a drop in attendance, revenue, and net income, and putting Six Flags at a disadvantage compared to competitors like Cedar Fair.

05:01

📉 Six Flags' Dismal 2023 Q2 Earnings and Self-Insurance Adjustment

The script reveals that Six Flags' net income plummeted in the first half of 2023, initially appearing as a catastrophic financial failure. However, it is explained that a $38 million adjustment in self-insurance reserves contributed to this drop. This adjustment was attributed to increased payouts from juries and rising interest rates, though the speaker suggests that it might be due to mismanagement, as competitors did not report similar increases. Despite this, the speaker notes that attendance and revenue were still disappointing, with only a 6% increase in attendance year-over-year and a 2% increase in revenue.

10:02

🎢 Reviving Six Flags with New Rides and Maintenance

The speaker expresses optimism about Six Flags' future plans, which include investing in new rides and improving maintenance to reduce downtime. Saleem Bass acknowledges the importance of thrill rides as the company's DNA and plans to retire high-maintenance rides in favor of state-of-the-art replacements. Capital expenditures are set to increase in 2024 and 2025, signaling a commitment to enhancing the park experience. The speaker also emphasizes the need for strategic investment in the right rides for the right parks to maximize impact.

15:03

🏗️ Addressing Great Adventure's Decline and Future Investments

The script addresses the decline of Six Flags Great Adventure, which is losing ground in the New York City and Philadelphia area due to increased competition and lack of significant investment. The speaker suggests that while some parks might need new rides, investing in a major park like Great Adventure would have a greater impact. The speaker also criticizes the previous strategy of raising prices without improving the park experience and supports the new focus on thrill rides and maintenance.

20:05

🚀 Six Flags' Upward Trajectory and Future Plans

The speaker concludes with a positive outlook on Six Flags' future, highlighting the company's plans to innovate across various aspects of their business, including culture, digital training, revenue management, and guest-facing technologies. Saleem Bass's speech is praised for its vision and commitment to taking risks and learning from failures. The speaker is cautiously optimistic about the company's potential to rebound and become better than ever, with a focus on thrilling rides and improved park experiences.

Keywords

💡Six Flags

Six Flags is a chain of amusement parks known for its thrill rides and roller coasters. In the video, it is discussed in the context of its business decisions and strategies, particularly under the leadership of CEO Saleem. The company's financial performance and its attempts to reinvent itself are central to the video's narrative.

💡Tradition

In the video, 'tradition' is used to refer to the historical practices and decisions of Six Flags, especially the ones related to poor decision-making. The script mentions a tradition of terrible decision-making, such as selling to Time Warner and excessive spending on roller coasters leading to bankruptcy.

💡Bankruptcy

Bankruptcy is a legal status for a person or other entity that cannot repay the debts it owes to creditors. In the script, it is mentioned in the context of Six Flags' financial struggles after spending a large sum on roller coasters without the revenue to sustain it.

💡Pent-up demand

Pent-up demand refers to the increased desire for a product or service after a period of reduced activity or consumption. The video discusses the theme park industry's pent-up demand after the COVID-19 pandemic, which led to record revenues for most companies except Six Flags.

💡Premium destination

A 'premium destination' in the context of the video refers to a high-quality, exclusive place that people are willing to pay more to visit, like Disney or Universal. Saleem's strategy for Six Flags was to reposition it as a premium destination, which involved increasing prices with the expectation of attracting visitors willing to pay for a high-end experience.

💡Net income

Net income is the profit a company makes after deducting all its expenses from its total revenue. In the script, a significant drop in Six Flags' net income is discussed, which is attributed to a large adjustment in self-insurance reserves rather than operational performance.

💡Self-Insurance reserves

Self-insurance reserves are funds set aside by a company to cover potential future claims or losses instead of paying premiums to an insurance company. The video explains that Six Flags made a large adjustment to these reserves, which negatively impacted their reported net income.

💡Attendance

Attendance refers to the number of visitors or participants at an event or location. The script discusses the drop in attendance at Six Flags parks following a price increase, which did not meet the expectations of the premium destination strategy.

💡Season pass

A season pass is a type of ticket that allows the holder to visit an amusement park multiple times within a specific period, often at a discounted rate. The video mentions that despite a significant increase in season pass sales, attendance at Six Flags did not rise as expected.

💡Thrill rides

Thrill rides are amusement park attractions that provide an adrenaline rush, typically roller coasters and other high-speed or high-intensity rides. The video concludes with Saleem recognizing that Six Flags' strength lies in its thrill rides, and the company plans to invest in new ones to attract visitors.

💡Capital expenditures

Capital expenditures refer to the funds a company spends to acquire, upgrade, or maintain its assets. In the script, it is mentioned that Six Flags plans to increase its capital expenditures to invest in new rides and improvements to the parks, signaling a shift in strategy.

Highlights

Six Flags' history of poor decision-making, including the disastrous partnership with Time Warner and subsequent bankruptcy.

The theme park industry's record-breaking revenues and attendance in 2022 due to pent-up demand post-pandemic shutdowns, excluding Six Flags.

Salem Bass, the new CEO of Six Flags, introduced a strategy to reposition the company as a premium destination like Disney or Universal, which failed, resulting in decreased attendance and revenue.

Salem Bass's initial strategy of increasing prices to elevate the perceived premium experience of Six Flags backfired, causing a significant drop in attendance and revenue.

Six Flags' 2023 Q2 results showed a shocking 55% drop in net income, primarily due to a $38 million adjustment in self-insurance reserves.

The self-insurance reserves adjustment was attributed to increased payouts and interest rates, but competitors did not report similar increases, suggesting mismanagement at Six Flags.

Despite the net income drop, Six Flags' Q2 2023 revenue was only up by 2%, and attendance saw a meager 6% increase year-over-year.

Six Flags claimed a 50% increase in year-to-date season pass sales, but this did not translate to higher attendance numbers, indicating a 48% non-renewal rate from the previous year's passholders.

Salem Bass acknowledged the need to invest in new rides and announced plans to increase capital expenditures for 2024 and 2025 to improve the park experience.

Six Flags plans to retire high-maintenance rides and replace them with state-of-the-art, thrilling rides to attract visitors and enhance the park's DNA.

Salem Bass's new strategy focuses on addressing ride downtime and maintenance issues to ensure the parks' operational efficiency.

Despite a disappointing Q2, there is optimism for Six Flags' future with an 11% increase in July attendance, suggesting a potential upward trend.

Salem Bass expressed a commitment to innovating across various aspects of the business, including culture, digital training, revenue management, and immersive experiences.

Six Flags has many exciting events planned for the second half of the season, aiming to attract guests and boost revenues.

Salem Bass's speech indicated a shift in leadership, showing a newfound understanding of Six Flags' identity and a commitment to taking risks and learning from past failures.

Transcripts

Six Flags a company of strong

Traditions one tradition in particular

being terrible decision-making going all

the way back from when they sold

themselves to Time Warner and that blew

up in their face from back in the early

2000s where they spent an obscene amount

of money on new roller coasters only for

them to go bankrupt a few years later

and down to today who gladly the new CEO

selem bass is keeping the tradition

alive and well oh hi selem hey s you see

last year in 2022 the theme park

industry went off I mean there was an

extreme amount of pent up demand after

2020 2021 where most people didn't visit

theme parks whether it because of coid

or because of shutdowns people just

weren't able to go out to the parks so

there was a lot of pent-up demand and it

resulted in record-breaking revenues and

attendance for most of these theme park

companies the reason why I say most of

is cuz Six Flags was not a part of the

bunch you see selem joined Six Flags at

the beginning of 2022 and he had a brand

new strategy that he decided to unveil

in the year that really should have been

easy money SL comes in and says no we're

going with a different idea and here was

the idea to turn Six Flags into a

premium destination like Disney or

Universal I mean that sounds great but

surely that's got to be like a decades

long plan I mean clearly these Parks

need a lot of investment if you're going

to get them up to that level surely you

won't just do something drastic and say

they're premium overnight right you're

despicable right yeah so sel's strategy

to make them premium was just jack up

the price in his eyes the parks were

already a premium experience and all he

had to do was just price them up and

people would come unfortunately didn't

work out for slam it blew up in his face

ATT tenance dropped like a rock and of

course Revenue came down and net income

came down and while everyone else in

their field was raking in the cash Six

Flags had had a nightmare year compared

to their number one competitor Cedar

Fair they were squashed like a bug it

seemed like this was a moment in time

that we would look back on years from

now and say Six Flags really dropped the

ball there and that's the reason why

they ended up in the dumpster so now a

year later shockingly selem is with the

company I say shockingly because six

flash tracker with CEOs is like they

drop them like flies and yet despite

putting himself in the Bon head Hall of

Fame s has somehow managed to earn

himself a second chance so now that

we're in 2023 a year removed from that

awful year what has Saleem managed to

put together to try and get Six Flags

back on track and perhaps avoid the

awful situation that it seemed like they

were on track for at the end of 2022 oh

hi

Seline there's my friend well I can give

you two pieces of things that we already

know he did well obviously one he

dropped the prices obviously that didn't

work so the base prices had to come back

down now they aren't lower than they

were before in fact they are still a

little bit higher at the base level at

least when compared to 2019 that is but

the reason why I keep saying base level

is because he's had an absurd amount of

sales literally from October of 2022

through May of this year there had been

sales on season pack

the whole time it's been nonstop it's

actually been insane the amount of sales

that have been going on the question now

for Six Flags though is have they burned

their customers right do people even

know that the prices have dropped right

do people even want to come back I mean

obviously there's not a whole lot of new

rides opening up this year across the

Six Flags chain so are people even going

to come back even if prices have dropped

especially now you know year removed

from 2022 the demand for theme parks is

not as high as it previously had been so

though this seems like a great strategy

on the surface to kind of try and bring

back guess is it going to work I don't

know to giv us an idea of how things are

going we now have Six Flags quarter 2

results which is for April through June

which is basically the beginning of peak

season for the Six Flags parks so given

that it's going to give us a pretty good

idea of how Six Flags is going to

perform for the rest of the year so

selem balls in your court let's see what

you got

oh my

Godus 55% on net

income what

happened now you guys know I'm perhaps

among the most cynical when it comes to

Six Flags in their current state but

even I had not foreseen such a God awful

earnings report like no joke when I

first saw this my breath was taken away

I I I actually could not fathom that

these numbers could have been that bad I

mean if the 20 22 numbers was a

nightmare year what does that make 2023

so far listen folks we we got to get to

the bottom of this how did net income

fall this far it's just OB scene it

makes no sense oh hi s looks like your

ride is not working but luckily this is

not necessarily the nightmare situation

that we had envisioned when we first saw

that number is Six Flags has a at least

somewhat reasonable excuse for why that

happened you see they made a $38 million

adjustment up in their self Insurance

reserves what in the world does that

mean well essentially what it is is you

take $38 million that you would have had

in cash otherwise and you go ahead and

you put it over into basically what's

essentially a different bank account in

a certain extent that can only be used

towards paying off insurance claims so

when 65 gets sued and there's a lawsuit

or something like that and they have to

pay out a certain amount they could take

out of that and it doesn't affect effect

future quarterly reports this is so that

way any sort of settlements or accidents

that happen can be separate from the

rest of the performance of the company

now what's interesting is that they

claim this is because uh payouts from

juries are going up and interest is

going up and all this other stuff that

you know means they have put more money

away put more money to the side just in

case you know Insurance risk comes up

right but it's kind of odd because they

claim this is an industrywide thing even

though none of competitors have cited

this none of their competitors had a

massive increase in their self Insurance

reserves we haven't seen Disney do it we

haven't seen Universal do it we haven't

seen SE Fair do it we haven't seen

SeaWorld do it none of these guys are

doing this so why did Six Flags have to

incur such a massive increase it's just

bad management by their part they just

forget to have to increase it over time

while everyone else is doing it like

maybe a couple of million dollars at a

time they don't have to report it on

their earnings report at least not in

this massive fashion well not exactly

you look back back into 2021 Six Flags

had to pay out a settlement of $36

million to guests of Six Flags Great

America in Illinois mind you that was

right before Saleem took over started

firing people to cut down on staff and

replace people up in the top to get in

his own guys in that upper management

position so I think it's actually pretty

likely that this was just kind of lost

in the weeds like people didn't realize

or they forgot that this payout happened

and they just never were making those

small incremental payments into the Self

Insurance Reserve to get it back up to

fill up what had already been paid out

by this deal so they say oh well it

wasn't because of a settlement or a

claim that happened that we had to raise

the price of this which is technically

true but this $38 million adjustment is

not because of increased payouts or

anything like that it's because they

just haven't filled their reserves to

make up for this payout that they had to

make a 2021 so good news and bad news

here it means that hey the Q2 earnings

numbers not as bad as we initially

thought yippee however it also means

that there's still some uh mismanagement

going on up top cuz this sort of

adjustment just shouldn't have had to

have happened out of nowhere right so

when you ignore that awful awful awful

net income number and you look at the

rest of this earnings report it's not

terrible it's not particularly good

either though um I mean revenues being

up only 2% eh

and I mean attendance You know despite

dropping you know those prices so much

and having so many discounts only a 6%

increase year-over-year you know mind

you from a year ago when you know tenant

was down like 25% I mean you're still

ages away from your tenant you know back

in 2019 I mean even 2021 you're still

behind that so uh you know it's it's not

not very promising stuff here Six Flag

claims that year-to date season pass

sales are up 50% which you know given

the discounts makes sense but when you

look at the attendance numbers it

doesn't quite make sense right how could

attendance only be up 6% if season pass

sales are up 50% well the reason why as

they explain later in the earnings call

um apparently new season pass holders is

only up by 2% meaning that 48% of season

passholders from last year did not

return as season passholders for this

year not a great sign that people are

responding well to your Investments Le

stop saying that they are because

clearly they're not you don't have that

sort of turnover in your season

passholders if that's the case a big

excuse that Six Flags used to try and

lessen the blow of these disappointing

numbers was to say oh the weather was

bad it was too hot it was raining all

this other stuff and it's like listen

every other theme park also said the

same thing right SeaWorld Cedar Fair

they all said oh weather was bad weather

was bad and it's like that might have

been true but it's like how many other

years has weather been bad I mean

literally a year ago in q220 22 they

made the same excuse they said weather

was bad weather was bad and it's like

I'm getting sick and tired of this

excuse weather is going to be bad every

year going forward I guess so it's like

just stop bringing it up okay I don't

even care I don't care there could have

been hurricanes every single day I

literally do not care because you use as

excuse every single time I'm sick of it

now one good thing to note however is

they did give a little bit of guidance

on the July numbers and apparently

attendance for that month is up 11%

which is better than the % that we've

seen in Q2 so hey you know it seems that

maybe things are tracking a little bit

better perhaps maybe as the summers's

gone on more people have you know

decided to take six flags up on those

season pass offers perhaps this

attendance increase can continue through

August and even through September and

October when Fright Fest is going on of

course one of Six Flags most popular

events so even though this quarter was

you know me me at best at best me you

know it could have been terrible right I

mean certainly when you look at those

numbers in the first place it looks like

it's the end of the world right but

perhaps there's something to actually be

optimistic about when it comes to Six

Flags I know sounds crazy to say you

know you never should get your hopes up

about Six Flags but take a listen to

this going back into 24 and 25 we're

going back to putting new rides in so a

lot of our care packs will be on

exciting rides that gives us we need to

go back and we're retiring a bunch of

rides that have high

maintenance and then we're replacing

them with very exciting Silling rides uh

stateoftheart new rides we're putting a

lot of money into this second I could

tell you the other thing we need to

discuss is our right

downtime and part of addressing the

right downtime is going back and looking

at resolving issues uh and maintenance

in upgrading um maybe trains in making

sure that our parts are fully stocked to

make sure that we are always predicting

and making sure that we're predicting

our maintenance and making sure the

rides are up so it's a combination of

Maintenance but it's not the biggest

part the biggest part is the thril rid

oh s you're going to be tear up here man

that's that's amazing to hear I'm so

glad that six f is finally getting back

to the roots the thing that actually

makes them exciting and interesting to

visit and that's the rides it's always

been the rides it's never been about the

food it's never been about uh how nice

the trees look or anything like that you

know like that all stuff helps right but

at the end of the day it's the rides and

that's really where you got to be

spending your money and I'm glad to see

the SL understands that in

2024 Capital expenditures basically the

amount of money they're going to invest

in the Parks is going to go up to

between 200 to 220 million with another

increase in 2025 to 230 to

250 what is this money getting spent on

well it's new rides folks new rides are

coming back to the Six Flags parks

wasn't that a nice change of pace from

of course back when s started his game

plan was let's spend as little money as

possible and let's spend it on like new

flower beds and shades and benches and

stuff like that that'll get people to

come to the parks right it didn't quite

work out but now he understands that new

rides not only do they improve the park

experience and you know increase your

capacity lower weight times but they

also actually bring new people to the

park they're great marketing material so

finally stick flies game back to their

Roots Sim has finally realized what

company he is running here I mean slim

even said thrill rides is our DNA this

is a year removed from when he was

saying oh we got Target families we got

to be family focused and it's like well

through rides aren't that and now he's

realized oh wait this is what Six Flag

is actually good at he realized oh I'm

not in charge of Disney I'm charge of

Six Flags I mean it's kind of crazy that

he didn't know that coming in but now it

seems like selem understands what Six

Flag strengths are who their target

audience is and he's actually committing

to investing in things that this

audience actually wants at least

verbally

now let's be honest right it's great and

all that you're getting back to heavily

investing in throw rides but you can't

just say all right we're doing that and

that's it like you have to have an

actual game plan an actual strategy

because wi Parks get new rides and when

do they receive them and what rides are

they it's important to make sure you're

giving the right ride to the right park

at the right time cuz for instance right

now a part that really needs something

is great adventure this is your second

most attended park it is is one of your

bred winners and yet it is losing the

battle in the New York City Philadelphia

area not only is more competition come

to the area with nickel Universe up by

American Dream coming to the area and

taking away a lot of that New York City

attendance because it's way closer to

the city than great adventure is but

also now Hershey Park for the first time

in God knows how long has passed Great

Adventure in attendance because it has

received an absurd amount of investment

top tier rides as well as just a bunch

of infrastructure and new shops and

restaurants I mean the park is

completely different than it was even

just 5 years ago it's actually crazy and

yet in that time all great adventures

gotone is Jersey Devil not to say Jersey

Devil's bad but it's not enough to

overcome what their competition has been

doing and it's no surprise that great

Venture is falling behind and really

when it's one of your biggest money

makers six guys cannot afford for that

to happen so yes there might be some

Bottom Feeders like a Six Flag St Louis

like a Six Flags America that parks that

have not received significant meaningful

investment in years that might need

rides on the surface but really if you

invest in a new ride at one of those

Parks it's not going to go as far as

investing in a new ride at a great

adventure for instance so hey uh you

want me to completely spell it out for

you where you should invest in what you

should invest in hey pay me but

otherwise all I'm going to say is just

figure it out man make sure that you're

giving the right ride to the right park

it's that simple

but nonetheless I do still think six

flies is headed in the right direction

and you know what I think for the first

time despite you know the fact that this

quarter was eh you know it was all right

uh despite that I think for the first

time I'm actually on the Saleem

bandwagon oh uh and then he wants to say

he wants to raise prices again oh well

okay you know screw you screw you buddy

no I'm kid but

seriously understandable you want to

raise prices again cuz obviously you

have discounted them severely but this

time he understands hey we got to invest

in the Parks we got to make our Parks

actually significantly better uh if

we're going to raise the prices and you

know I'm totally for that right if

you're actually going to make your Parks

better you're going to improve the ride

lineups then hey I think you can warrant

you know asking for a better price but

don't just raise the prices without

doing anything like you did last year s

all right keep that in mind learn your

lesson buddy so when you combine this

new Thrill Ride Focus strategy with the

price increase is expected to come in

the future Saleem still expects that Six

Flags will reach their goal of 25 to 27

million guests annually by

2025 and you know what maybe that's

still a little bit optimistic but I'm a

believer I'm a believer that Six Flags

can pull themselves from the rut because

really I mean you look a year ago like

that game plan was never going to work

and if they had stuck with it if they

had stuck to their guns which they were

claiming they were going to do a year

ago mind you they were saying oh we are

we are with the strategy to The Bitter

End well they've gone back on that and

I'm glad they have because really that

strategy was never going to pay off it

was only going to result in disaster but

Saleem he earned himself a second chance

and this time he is making the most of

it and you know what I'm excited for the

first time in maybe I don't even know in

3 years maybe for the first time

actually excited about the future of Six

Flags you did here today on how we are

innovating across every part of our

business from culture digital training

Revenue management guest facing

Technologies immersive experiences rides

beautification Food Service retail and

much more success requires not just

leveraging your strengths but also

taking risks overcoming challenges and

learning from failure evolving your

vision and sometimes Reinventing Your

self that is true for both our

organization and our leadership we are

excited about our momentum on behalf of

the Six Flags team we appreciate your

continued support and the support of our

shareholders and investor our guests and

fans our

suppliers our bankers and most important

the support of our team and our

employees who without them nothing could

have happened we have many exciting

events lined lined up for the second

half of the Season including fryfest

kids Boo Fest October Fest and holiday

in the park we still have

40% of our revenues coming still so

far and we hope to see you at all those

events this year have a great day and we

look forward to speaking with you next

quarter thank you dude s sign me up up

man that was hype that was a goated

speech that would have been the first

time I've her sound like an actual true

blue leader that was awesome man all

right hey you know what let's do this

Lee put your head down nose to the

grindstone let's make the right

decisions I have faith for the first

time just when it seemed like things

could not get worse it seemed like at

the beginning of this quarter things did

get worse until we read into it we

understood the game plan we understood

the assignment and now we know hey it

might not be all bad from here in fact

we might be heading in an upward

trajectory for Six Flags for the first

time since perhaps

2019 and that's an exciting thing to

think about if you are a theme park fan

so anyways let me know as you guys think

in the comments is Six Flags on the

right path to get themselves sorted out

and back to being who they were you know

in the 2010s or perhaps maybe even

better than they've ever been let me

know if you believe in selem or if you

still are a s doubter I wouldn't blame

you to be quite honest but anyways leave

a like subscribe and I'll see you all

next time peace