SIX Six Flags Entertainment Corp

Management Discussion

• Revenue for the three months ended June 30, 2019 totaled $477.2 million, an increase of $31.8 million, or 7%, compared to $445.4 million for the three months ended June 30, 2018. The revenue increase was attributable to an 8% increase in attendance primarily driven by (i) the operation of our five new parks acquired in 2018 for a three months versus one month in 2018, (ii) the Easter holiday falling on April 21st in 2019 as compared to April 1st in 2018, which shifted a portion of the Company's operating calendar from the first quarter to the second quarter in 2019; and (iii) a 14% increase in sponsorship, international agreements and accommodations revenue. Total revenue per capita decreased slightly due to (i) a higher mix of season pass and memberships; (ii) lower guest spending per capita, which excludes sponsorship, international agreements and accommodations revenue, at the five new domestic parks acquired on June 1, 2018, which had additional operating days and attendance in the second quarter of 2019 than the second quarter of 2018; and (iii) lower guest spending per capita at a sixth domestic park in Rockford, IL, newly added in April 2019. These decreases were partially offset by price increases, the benefit of premium priced membership sales and the increase in sponsorship, international agreements and accommodations revenue.