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  • Six Flags Entertainment Corporation924 Avenue J EastGrand Prairie, TX 75050972-595-5000www.sixflags.com

    GO BIGGO SIX FLAGS

    Six Flags Entertainment Corporation 2010 Annual Report and Form 10-K

    READY, SET, GO

    Six Flags E

    ntertainment C

    orporation 2010 Annual R

    eport and Form 10

    -K

    Six Flags AR_Cover.indd 1 3/21/11 5:23:20 PM

  • Company DescriptionWith nearly $1 billion in 2010 revenue and 19 parks across the United States, Mexico and Canada, Six Flags Entertainment Corporation is the largest regional theme park company in the world. Hundreds of millions of people have trusted Six Flags to offer affordable, value-packed thrills, record-shattering roller coaster rides and special events like summer concerts, Fright Fest and Holiday in the Park. Six Flags wide array of entertainment attracts families, teens, tweens and thrill seekers alike.

    Six Flags Headquarters924 Avenue J EastGrand Prairie, TX 75050972-595-5000

    Annual Meeting of StockholdersSix Flags Entertainment Corporations Annual Meeting of Stockholders will be held on May 4, 2011, at The Yale Club of New York City, 50 Vanderbilt Avenue, New York, NY 10017 at 3:00 p.m. EDT. Stockholders of record on March 15, 2011 are entitled to attend.

    Stock Transfer Agent and RegistrarFor information or assistance regarding individual stock records or dividends, contact your broker or the Companys transfer agent, Computershare.

    Computershare Contact InformationYou may contact Investor Services at Computershare by dialing 1-800-662-7232 or by visiting Computershares website at: www.computershare.com/investor.

    Stock Exchange ListingThe Companys common stock is listed on the New York Stock Exchange under the ticker symbol SIX. Current trading volume and share price data can be found in the financial section of most daily newspapers and online at www.sixflags.com/investors.

    Independent Registered Public Accounting FirmKPMG LLP717 North Harwood StreetSuite 3100Dallas, TX 75201-6585 Form 10-K and Other ReportsSix Flags Entertainment Corporations annual report, Form 10-K and other SEC filings are available online at www.sixflags.com/investors. Stockholders may receive, without charge, copies of Six Flags Entertainment Corporations financial information by contacting Investor Relations.

    Investor RelationsPersons seeking information about Six Flags are encouraged to visit us online at www.sixflags.com/investors. The Company provides a variety of information about its business on its website. You may also contact:

    Nancy KrejsaSenior Vice PresidentInvestor Relations and Corporate Communications972-595-5083nkrejsa@sftp.com

    Shareholder Information

    Note About Forward-Looking Information The information contained in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements.

    C A N A D A

    U N I T E D S T A T E S

    M E X I C O

    Six Flags Over GeorgiaSix Flags White Water Atlanta

    Six Flags Great AdventureSix Flags Hurricane HarborSix Flags Wild Safari

    Six Flags Over TexasSix Flags Hurricane Harbor

    Six Flags Discovery Kingdom

    Six Flags Magic MountainSix Flags Hurricane Harbor

    Six Flags Fiesta Texas

    Six Flags Mexico (Mexico City)

    Six Flags New England

    Six Flags America

    La Ronde (Montreal)

    Six Flags Great Escape Lodge & Indoor WaterparkThe Great Escape & Splashwater Kingdom

    Six Flags Great America

    Six Flags St. Louis

    Six Flags

    Six Flags Theme Park Locations:

    California Six Flags Discovery Kingdom,

    Vallejo Six Flags Magic Mountain,

    Valencia Six Flags Hurricane Harbor,

    Valencia

    Georgia Six Flags Over Georgia, Austell Six Flags White Water, Marietta

    Illinois Six Flags Great America, Gurnee

    Maryland Six Flags America, Largo

    Massachusetts Six Flags New England,

    Agawam

    Missouri Six Flags St. Louis, Eureka

    New Jersey Six Flags Great Adventure,

    Jackson Six Flags Hurricane Harbor,

    Jackson Six Flags Wild Safari, Jackson

    New York The Great Escape & Splashwater

    Kingdom, Lake George Six Flags Great Escape Lodge &

    Indoor Waterpark, Lake George

    Texas Six Flags Fiesta Texas,

    San Antonio Six Flags Over Texas, Arlington Six Flags Hurricane Harbor,

    Arlington

    Canada La Ronde, Montreal

    Mexico Six Flags Mexico, Mexico City

    A global leader in regional theme parks$1.0 billion revenue19 strategically located parks in North America1,900 full-time/28,000 seasonal employees800 rides/120 coasters24 million guests annually

    Six Flags Entertainment Corporation

    Six Flags AR_Cover.indd 2 3/17/11 3:35:54 PM

  • 1

    $ in millions 20101 20091 20081

    Revenue2 $976 $ 899 $1,006

    Adjusted EBITDA3 $295 $ 197 $ 276

    Net debt4 $784 $2,242 $2,088

    Number of full-time employees 1,900 2,000 2,000

    Number of seasonal employees 28,000 27,700 27,600

    Highlights

    1All years exclude the results of Six Flags Kentucky Kingdom, which has been recorded as a discontinued operation.2 2010 includes revenue for the Six Flags Great Escape Lodge & Indoor Waterpark, the results of which were consolidated beginning January 1, 2010, due to the adoption of new accounting rules.

    3 The definition of Adjusted EBITDA and a reconciliation of Adjusted EBITDA to U.S. GAAP financial measures can be found opposite the inside back cover of this report or on our website at www.sixflags.com/investors.

    4Net debt equals reported debt less unrestricted cash.

    Comparison of 8-Month Cumulative Total Return*

    *$100 invested on May 10, 2010, in stock or index, including reinvestment of dividends. Fiscal year ending December 31.

    Five-year historical data is not presented since we emerged from Chapter 11 bankruptcy on April 30, 2010, and the post-emergence stock performance of Six Flags is not comparable to the stock performance prior to our emergence.

    The stock price on May 10, 2010, reflects the price of $29.42 per share at which our new common stock was issued upon our emergence. The stock began trading on the NYSE on June 21, 2010, and it closed on that date at a price of $36.49.

    $ 80

    5.10.10 6.30.10 9.30.10 12.31.10

    $120

    $100

    $160

    $140

    $200

    $180

    Six Flags Entertainment Corporation S&P Midcap 400S&P 500 S&P Movies & Entertainment

    2010 Revenue Contribution

    n Ticket Salesn In-Park Salesn Sponsorships & Licensing

    7%

    41%52%

    2009 2010

    Attendance (in millions)

    23.3 24.3

    2009 2010

    Per Capita Guest Sales

    $38.63 $40.18

    Six Flags AR_Narrative.indd 1 3/19/11 1:09:05 AM

  • 2

    Letter to Shareholders

    In 2010, we climbed a mountainand the view from the top is exhilarating. Following our midyear debt restructuring and emergence from Chapter 11 as a NYSE public company, we formed a new leadership team and set forth to execute a new strategy focused on building the best regional theme park company in the world. We took steps to exit activities that did not fit into our core strategy and to reduce costs, including the relocation of our corporate office. Our improving financial metrics in the second half of the year, along with the appreciation in our stock price, indicate that we are clearly on the right path.

    To help fuel our success, we re-engaged our employees who are, by far, our greatest asset.

    By clearly articulating our goals and instilling a culture of open and honest communication, we have unleashed the passion in our people, aligning their energy behind our strategic direction and alongside all our stakeholders, including our guests.

    Each and every year, for millions of people, we take an ordinary day and make it extraordinary by creating lifetime memories they can only experience at Six Flags. The results of our work were reflected in satisfaction ratings that reached new heights in 2010, as we strived to consistently deliver a friendly, safe and fun experience for each and every park guest.

    As we enter our 2011 season, we are well positioned to take the company to new heights. We are introducing the most exciting lineup of new rides and attractions in a decade and implementing refocused pricing and marketing strategies

    that should enhance guests experiences and also draw incremental guests into our parks. With growing momentum, we are well positioned to continue building the value of Six Flags for our guests, employees and shareholders in 2011 and beyond.

    I would like to thank all of our stakeholders for your ongoing support of Six Flags. Our top priority and steadfast commitment is aimed at enhancing Six Flags value to you.

    Jim Reid-AndersonChairman, President and Chief Executive Officer,Six Flags Entertainment Corporation

    Every year, for millions of people, we take an ordinary day and make it extraordinary.

    Six Flags AR_Narrative.indd 2 3/17/11 3:51:40 PM

  • 3

    Jim Reid-Anderson Chairman, President and CEO

    Photo location: The Titan Coaster

    at Six Flags Over Texas towers

    more than 250 feet in the air and

    features spectacular plunges, huge

    sweeping spirals and a tunnel

    shrouded in darkness.

    Six Flags AR_Narrative.indd 3 3/17/11 3:51:47 PM

  • 4

    Coasters & Thrill Rides

    Water Parks

    Marine Mammals

    Safari

    Concerts & Shows

    Family R

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