August 2, 2024, 8:26 PM ·
Another big ownership change might be coming to the theme park industry. Just after the close of the Cedar Fair and Six Flags merger, the owner of another regional amusement park chain might be looking for a deal.
Reuters reports that a private equity firm behind Parques Reunidos, EQT, has enlisted JP Morgan to conduct a review of the Spanish theme park operator that could result in a sale of its US assets.Parques Reunidos’s US assets are held by Palace Entertainment and include Kennywood, Lake Compounce, Iowa’s Adventureland, Southern California’s Castle Park and Raging Waters and the Noah’s Ark Water Park in the Wisconsin Dells. Reuters cited a source that the Palace Entertainment properties could be valued at €1 billion [US$1.08 billion]. For context, the Cedar Fair/Six Flags deal was for about US$8 billion.No official word yet from anyone involved. Last month, Palace Entertainment named former SeaWorld executive John Reilly as its CEO.To keep up to date with more theme park news, please sign up for Theme Park Insider’s weekly newsletter.
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