Today was the earnings announcement for Six Flags' second quarter of 2016, which is another for the company's record books. For the quarter, revenues were up $21 million or 5%, and attendance saw a 2% increase to 9 million. The company, like usual, held a conference call today to discuss the earnings - here are some noteworthy items:
• Licensing revenues from international park developments was up 132% for the quarter and for the first half of the year equaled $14 million. The park in Dubai has broken ground and the company recently announced plans for another park in China, with a water park, that will be one of the largest Six Flags parks. Beyond what has been announced, there are several other deals already in the works.
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• An all season Flash Pass, for skipping attraction lines, was tested earlier this year and deemed a success, and will now be rolled out to all the parks by 2017.
• Work is progressing on Six Flags' new water park in Mexico, planned to open in early 2017. Operators say there is a ton of interest in the park already and it will be marketed jointly with Six Flags Mexico.
• Season Pass and Season Membership sales continues to soar for Six Flags, with overall active pass base up 11% year over year. Even with more pass holders attending the parks the per cap spending for each guest is still up 3% for the first half of 2016. All-season dining passes are also growing and resulting in increased food and beverage revenues.
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• I did not hear any mention of announcements for 2017 yet, and with a new CEO I am wondering if perhaps the big announcement all on one day has been retired? Just a theory, I'm sure we will find out soon enough.