Business
United Parks & Resorts Inc. Announces a $500 Million Share Repurchase Authorization
United Parks & Resorts Inc. (NYSE: PRKS), a leading theme park and entertainment company, today reported that on Wednesday September 3, 2025, its stockholders approved a $500.0 million buyback authorization.
About this update from United Parks & Resorts Inc.
[{"type":"text","content":"ORLANDO, Fla., Sept. 5, 2025 /PRNewswire/ -- United Parks & Resorts Inc. (NYSE: PRKS), a leading theme park and entertainment company, today reported that on Wednesday September 3, 2025, its stockholders approved a $500.0 million buyback authorization.","length":256,"tagName":"p"},{"type":"image","alt":"United Parks & Resorts Inc. (PRNewsfoto/United Parks and Resorts Inc.)","displaySize":"","headline":null,"caption":"United Parks & Resorts Inc. (PRNewsfoto/United Parks and Resorts Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":207,"url":"https://media.zenfs.com/en/prnewswire.com/7f7bce0e45bcd547722e22091f4628d0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/f2XZ_ykHT.lVKblv.dXnRg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM2NTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/7f7bce0e45bcd547722e22091f4628d0","width":400,"height":207}},"href":"https://mma.prnewswire.com/media/2349467/United_Parks_and_Resorts_Inc_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""We thank our stockholders for their vote on this important matter," said Marc Swanson, Chief Executive Officer of United Parks & Resorts Inc. "With our strong balance sheet and significant free cash flow generation, we are excited to be able to take advantage of what we believe to be a very attractive opportunity to invest in the shares of our own Company via a share repurchase and return capital to our stockholders."","length":446,"tagName":"p"},{"type":"text","content":"On September 3, 2025, United Parks & Resorts Inc. held a Special Meeting of Stockholders to approve and authorize a new $500.0 million share repurchase program of the Company's common stock, subject to the qualification that the Company will not repurchase additional shares if Hill Path's common stock ownership interest percentage would, as a result of any such repurchase, equal or exceed 70%. The Share Repurchase Proposal required approval by the holders of a majority of the shares of the Company's common stock outstanding and entitled to vote as of the record date other than shares beneficially owned by Hill Path and its affiliates.","length":664,"tagName":"p"},{"type":"text","content":"Under the Share Repurchase Program, the Company is authorized to repurchase shares through op...