U.S. Amusement Park Operators Cedar Fair and Six Flags to Merge

U.S. amusement park operators Cedar Fair and Six Flags Entertainment on Thursday agreed to merge to scale their business amid an economic slowdown that has weighed on leisure spending.

Through the deal, the regional park operators are hoping to get a stronger foothold and “a strong revenue and cash flow generation profile” amid competition from rivals like SeaWorld Entertainment and Disney’s theme parks.

The tie-up is expected to ” … mitigate the impact of seasonality and reduce earnings volatility through a more balanced presence in year-round operating climates,” the parties said in a statement.

Read the source article at CNBC