Six Flags Entertainment Corp (SIX) Q1 2020 Earnings Call Transcript

Six Flags Entertainment Corp (SIX) Q1 2020 Earnings Call Transcript

I will now turn the call over to Steve Purtell, Senior Vice President, Investor Relations.. Good morning, and welcome to our first quarter call.. We will begin the call with prepared comments and then open the call to your questions.. As I shared on our last earnings call, we are focused on reinvigorating growth in our base business.. Our Six Flags over Texas Park had successfully initiated year-round weekend operations.. We improved weather we had improved weather versus prior year, and our strategy to target single day guests was working.. Before suspending operations, our attendance was up 19% versus prior year, with single day paid attendance increasing 38%.. Immediately after suspending the operations of our parks, we implemented aggressive cost-saving measures that largely offset the resulting revenue decline.. We also have been proactively communicating with our guests to preserve our Active Pass Base.. The actions have provided us with sufficient liquidity to meet our cash obligations through the end of 2021, even if we remain in a minimal revenue environment.. But we'd likely require additional covenant relief from our credit facility lenders if the suspension of operations lasted through the end of 2021.. I am committed to an even greater