Sandusky, Tuesday, 14 October 2025.
Last Monday AAII gave Cedar Fair an A+ over Six Flags, highlighting a key edge: materially stronger free cash flow and substantially lower leverage that reduce financing risk as borrowing costs climb. For retail and attractions professionals, the analysis flags how concentrated North American resort operations and predictable seasonality around Sandusky translate into more stable cash conversion and clearer capex planning. By contrast, Six Flags’ broader geographic footprint and heavier near-term capital and interest burden create greater earnings volatility and sensitivity to discretionary spend. That contrast matters beyond stock picks: credit appetite, sponsor discussions, and strategic capital-allocation choices (asset-light partnerships, prioritized attraction investments, or portfolio rationalization) will be reshaped if lenders and investors adopt AAII’s view. Expect operators facing a softer attendance cycle to reassess leverage, timing of new-builds, and yield-focused investments; the most intriguing takeaway is that balance-sheet structure now drives operational strategy as much as guest experience initiatives.