Six Flags' New Chairman, Merlin's Attendance Drops & Maya Culture as IP

Six Flags appointed Richard Haddrill as executive chairman of the board, replacing Marilyn Spiegel (who stays on as lead independent director). Haddrill comes from the gaming industry — he was CEO of Bally Technologies and executive vice chairman at Scientific Games. The move continues the board refresh that Jana Partners demanded, and it puts more pressure on CEO John Reilly to deliver results now that the "board is in the way" excuse is gone. Merlin Entertainments reported its 2025 annual results: attendance down 6.2% in North America, total visitors down 2.3 million globally, and revenue dropping 2.8%. North America was the weakest market across all of Merlin's brands, while Asia-Pacific saw strong growth driven by Legoland resorts in Japan and Shanghai. And in Mexico, the Supreme Court ordered Xcaret to stop using Maya cultural elements in its parks, hotels, and advertising — a ruling based on a 2024 constitutional reform recognizing indigenous communities' collective IP rights over their cultural heritage. Listen to weekly bonus episodes on our Patreon.