The park initially featured a Native American village, a gondola ride, a railroad, some Wild West shows, a stagecoach ride and 'Skull Island', a pirate-themed adventure attraction. Construction of Six Flags Over Texas started in 1960 and the park opened the next year for a short (45-day) season. Six Flags Theme Parks originated in 1957 with the creation of The Great Southwest Corporation by Angus G. Six Flags parks are still divided into different themed sections, although many of the original areas from the first three parks have been replaced.

The name 'Six Flags' originally referred to the flags of the six different nations that have governed Texas: Spain, France, Mexico, the Republic of Texas, the United States of America, and the Confederate States of America. The Six Flags & Texas Railroad at Six Flags Over Texas (2007) On June 13, 2009, the corporation filed for Chapter 11 bankruptcy protection because of crippling debt, which it successfully exited after corporate restructuring on May 3, 2010. The company maintains a corporate office in Midtown Manhattan, and headquarters in Arlington, Texas. Founded in the 1960's, its name is derived from its first property, Six Flags Over Texas. Originally, the company was known as Six Flags, Corp., and later Six Flags, Inc. In 2019, Six Flags properties hosted 32.8 million guests. The company operates 27 properties throughout North America, including theme parks, amusement parks, water parks, and a family entertainment center. Six Flags owns the most theme parks and waterparks combined of any amusement-park company and has the seventh highest attendance in the world.

It has properties in Canada, Mexico, and the United States. Six Flags Entertainment Corporation, formerly Six Flags Theme Park, Inc., is an American amusement park corporation, headquartered in Arlington, Texas.

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