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On April 4, Six Flags Entertainment Corporation (NYSE: SIX) officially announced the cooperation with Saudi Arabia’s Sovereign Wealth Fund to develop a Six Flags-branded theme park in the city of Riyadh. This is another major step on Six Flags’ overseas expansion after its agreement with DXB Entertainments (Dubai’s theme park operator) to build Six Flags Park in 2019.
They haven’t disclose any financial details related to this transaction. Six Flags has entered into an arrangement with the PIF to develop, design and license the Six Flags brand for Qiddiya—Saudi Arabia’s first entertainment, sports and cultural destination—which is expected to open in 2022.
Six Flags executives said that the company’s international transactions in 2017 generated revenue of 38 million USD, and this transaction does not require significant capital investment by Six Flags. Since it starts international business in 2014, Six Flags has made a total revenue of 91 million USD. Overall, it reached a total revenue of 1.4 billion USD in 2017 and achieved a profit of 313 million USD.
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