The company is $2 BILLION in debt and are unloading those places that are not profitable
On September 12, 2005, Six Flags announced that it was closing its legendary Six Flags Astroworld theme park in Houston, Texas, at the end of the 2005 season, citing issues such as the park's performance, and parking issues involving the Houston Texans football team, Reliant Stadium, and the Houston Livestock Show and Rodeo leveraged with the value of the property the park sits on.
On January 27, 2006, Six Flags announced it would be selling its Frontier City theme park and White Water Bay water park, both located in Oklahoma City, at the conclusion of the 2006 operating season. At the same time, Six Flags also announced its plan to close corporate offices in Oklahoma City.
Six Flags CEO Mark Shapiro said he expects the parks to continue operation after the sale, unlike Six Flags Astroworld. Six Flags also announced that it would be moving all of its corporate operations to New York City.
On March 30, 2006, Six Flags announced that it will sell only pizza from Papa John's International at its parks. In turn, Six Flags will receive an annual sponsorship and promotional opportunities from Papa John's, though financial details of the deal have not been disclosed.
In June of 2006, Six Flags announced it was considering closing or selling up to six of its parks, including Elitch Gardens (Denver, CO), Darien Lake (Darien, NY), WaterWorld (Concord, CA), Wild Waves and Enchanted Village (Federal Way, WA), Splashtown (Spring, TX), and Magic Mountain (Los Angeles)/Hurricane Harbor (Various).
In addition, Six Flags also announced the sale of Wyandot Lake in Powell, Ohio to the Columbus Zoo and Aquarium, which is located next to the park.
Tough times