Six Flags eyes more park closures after reporting $1.2B quarterly loss, lawsuit

Six Flags is eyeing more park closures after the amusement park operator reported a $1.2 billion quarterly loss on Nov. 7.

The company attributed the losses to a shortfall in return on investments in advertising and underperforming parks.

“Our efforts to stimulate demand did not achieve the desired returns and our decision to shift to more advertising spend earlier in the year in an effort to drive consumer awareness further impacted third quarter results, particularly at our underperforming parks,” President and CEO Richard Zimmerman said in a statement .

In a Q3 earnings call, Zimmerman said the company’s performance for the quarter “has fallen short,” of its expectations, citing a notable change in attendance rates.

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