Six Flags expanding into Saudi Arabia

Disney isn't the only theme park expanding overseas. Six Flags Entertainment is right on its heels, announcing plans Monday to expand into Saudi Arabia.

Following a meeting with Saudi deputy crown prince Mohammed bin Salman, the amusement park company's CEO John Duffey went on state-owned Arabyia TV to announce the news. "We're very honored to be provided with an opportunity to enter into a partnership to bring Six Flags to the kingdom," said Duffey, according to Reuters. "Our parks can provide the entertainment to which Saudis aspire."

Six Flags currently has two parks outside the U.S., one in Mexico City and one in Montreal. A second Mexico amusement park is in development as are parks in China and Dubai. The Dubai location is set to open in 2019. The company also has 16 theme parks around the U.S.

"Six Flags has meetings with business and world leaders on an ongoing basis," Six Flags spokeswoman Sandra Daniels said in an emailed statement.  "Recently Executive Chairman Jim Reid-Anderson and CEO John Duffey were extremely honored to be invited to informally meet with His Royal Highness the Deputy Crown Prince of Saudi Arabia regarding his vision for future developments in Saudi Arabia."

The Six Flags Saudi Arabia announcement comes days after rival theme park owner Disney opened its long awaited theme park in Shanghai.

It is unknown which Six Flags attractions, such as the company's Hurricane Harbor water park, would make its way to Saudi Arabia given the country's strict social rules relating to women and gender segregation.

For the Saudis, a move into entertainment is part of a plan called "Vision 2030" to transition the country off its dependence on oil revenue. One of the goals of the plan is to increase tourism spending from $8 billion a year to $46 billion by 2020, something the country hopes a theme park such as Six Flags can help accomplish.

Six Flags stock was up slightly in early trading Monday.

Follow Eli Blumenthal on Twitter @eliblumenthal