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Cedar Fair Corporate Development Discussion Thread (FUN)


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^^^Thanks, it just seems so odd they would still hold such a large plot of land in an area that would cannibalize existing parks. Also, they have never built a park from the ground up since Cedar Fair was formed.

Edited by larrygator
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^ I can't speak for Larry, but I'd be interested in checking it out.
No problem! Here's some detailed information on the parcels themselves. All of the land is zoned "Commercial Industrial." I have all of the boundary data as well, but it's very long, very confusing and seems pretty pointless to post here.

 

Parcel 1

Address: 10000 W M-50 BLK, Onsted, MI 49265

Value: $262,000

Acreage: 65.5

 

Parcel 2

Address: 11000 Onsted Hwy Blk, Brooklyn, MI 49230

Value: $230,000

Acreage: 57.5

 

Parcel 3

Address: 10625 Hand Hwy, Onsted, MI 49265

Value: $200,000

Acreage: 40

 

Parcel 4

Address: 10524 W M-50, Onsted, MI 49265

Value: $176,000

Acreage: 44

 

Parcel 5

Address: 10000 W M-50 BLK, Onsted, MI 49265

Value: $132,000

Acreage: 33

 

Parcel 6

Address: 10000 W M-50 BLK, Onsted, MI 49265

Value: $260,000

Acreage: 65

 

Parcel 7

Address: 10000 W M-50 BLK, Onsted, MI 49265

Value: $41,000

Acreage: 10.25

 

Parcel 8

Address: 10000 Hand Hwy BLK, Onsted, MI 49265

Value: $119,400

Acreage: 29.87

 

Parcel 9

Address: 10000 Sheeler Rd BLK, Onsted, MI 49265

Value: $160,000

Acreage: 40

 

Parcel 10

Address: 10000 Onsted Hwy BLK, Onsted, MI 49265

Value: $320,000

Acreage: 80

 

In total, the land is worth $1,900,400 alone and makes up a total of 465.12 acres. The addresses should give you an idea of where they're at, for the most part. Still, quite an impressive chunk of land they're holding on to that could, at one point, have been a park as large as Cedar Point (Gemini, Valleyfair's Corkscrew, Valleyfair's old Flume and Jr. Gemini were originally slated for this park which was to be named "Cedar Point of Michigan", a name still used in all of the legal filings).

 

Here are the original Articles of Incorporation and the By-Laws of an organization known as the "Irish Hills Corporation" which was the dummy name used to create the "Cedar Point of Michigan" corporation and purchase the land.

 

Somewhere in a box at my parents' house I have a photo of an artists' conception for the project that was displayed on a sign right inside the park entrance (the double ferris wheel is in the background of the photo). According to some there was even a scale model of the project that was used for PR purposes when the project was being proposed, but I have no photo of the model itself.

 

In the 1975 Letter to Shareholders (available in the Annual Report), George Roose and Robert Munger commented on the failure of building the property:

We believe the Company must expand not only at Cedar Point but in other areas as well. During fiscal 1975, we expended considerable time and money in planning the construction of a new family recreation center in Irish Hills, a popular tourist area in South Central Michigan. Undue difficulties in obtaining zoning clearances and opposition by a small number of Irish Hills residents prompted us, early in April 1975, to announce the abandonment of Irish Hills as the site for a Michigan recreation center.

 

We still hope to build a park in Michigan, and are evaluating other sites. A favorable decision, of course, will require some assurance that we can proceed on a reasonable construction schedule. Interestingly, since we announced our decision concerning Irish Hills, officials and residents of several potential Michigan sites have expressed interest in our building a recreation center in their communities.

 

At the same time, we are evaluating other sections of the United States as potential construction sites and are constantly reviewing the possible acquisition of existing amusement parks and recreation centers, though there is nothing imminent in either area.

 

There was also a second attempt, but this time in Battle Creek in the Fort Custer Recreational Area and with 760 acres. In the 1977 Letter to Shareholders, Roose and Munger commented on that failure:

Regrettably, we must report the decision by the Company's Board of Directors to terminate a conditional sales agreement with the City of Battle Creek, Michigan for the purchase of approximately 760 acres of land. This land purchase was the first step toward the construction of a theme and recreational park in Battle Creek.

 

The August 3, 1976 conditional sales agreement stated that time was of the essence, and although we had twice extended the deadline beyond the original 120-day period, all of the conditions could not be met by the extended deadline of April 30, 1977. Original plans called for the park to be in operation at the beginning of the 1978 season. However, delays encountered seriously affected our construction timetable and made even a 1979 opening date questionable.

 

Despite this disappointment, we continue to explore external growth opportunities which will complement our present Sandusky expansion plans. With vigorous, prudent action in both areas, we believe Cedar Point can look forward to continued growth and profitability in the future.

 

I think that's a lot more information than anyone ever wanted to know about the whole thought of Cedar Point opening a new park in Michigan. If you (or anyone, for that matter), wants the detailed lot boundaries for the land that they own, feel free to send me a PM. Again, I'd post it here, but it's just a bunch of real estate mumbo jumbo most people wouldn't understand.

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Maybe back then it might have made more sense but I can't imagine they would consider building a potential 400+ acre park only 2 1/2 hours away from Cedar Point now. Wonder why they held on to the land all these years.

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I believe there is some talk about it in the Cedar Point: Queen of American Watering Places book (I don't have it with me at the moment).

 

How many parks were operating in the area back in '74? Sure today Cedar Point rules the market but back then there was several parks within the Detroit area alone (among many other in Ohio) so strangely there would be less competition now. I'm sure back then critics weren't saying "why would they build a park within 2.5 hours of Cedar Point" but rather "why would they build a park so close to Boblo, etc." Here is a list of past Michigan parks: http://www.waterwinterwonderland.com/amusement.aspx

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Well, keep in mind that Cedar Point back in 1974 was very little like the Cedar Point of today. They were still on the road to recovery after the depression they got into with the 40's and 50's. They only had four roller coasters, the biggest being the Jumbo Jet. While they were still a popular park, there were a lot of parks opening in the 70's (Kings Island opened in '72, Geauga Lake was starting to expand with bigger rides, and those are just the other two "big" Ohio parks). I think the draw was that it would allow them to get even more guests (and some twice, like they do with Michigan's Adventure) as well as the fact that they would have had a ton of land fresh for a completely new development.

 

There is a little talk about it in the Queen of American Watering Places book (page 184), I think I covered some of what is mentioned in there. Some highlights that book adds include a projected cost of $15 million, as well as the park being themed to Michigan's history. They also mention how it was supposed to open in 1976. The book also mentions the Battle Creek land, which would have cost them $2 million for the land, with a projected project cost of $25 million. The Battle Creek property would have opened in 1978, had 26 rides and had 1,200 seasonal employees.

 

As far as other parks that were operating in Michigan back then, you're looking at Bob-lo Island, Edgewater Park, Lake Lansing Park (final season in 1974), Michigan's Adventure (then known as Deer Park) and the small 10-acre Utica Amusement Park (known as Riverland more recently). Of those, only Michigan's Adventure remains today as a major amusement park in the state.

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http://www.cedarfair.com/ir/press_releases/index.cfm?current_root=15&mode=story&story_id=349

 

Cedar Fair Entertainment Company (NYSE: FUN), today announced that the Board of Directors will nominate three new independent Board members for election at the 2012 Annual Meeting of Unitholders to be held on June 27, 2012. If elected, the three Board nominees would replace C. Thomas Harvie (69), Michael Kwiatkowski (64) and Steven Tishman (55) who will not stand for re-election.

 

The new nominees, Daniel J. Hanrahan (53), Lauri M. Shanahan (49), and Debra Smithart-Oglesby (56) were selected through a comprehensive, national search process under the direction of Independent Director Eric Affeldt, chairman of the Governance and Nominating Committee. As was announced on February 16, 2012, the Company engaged Spencer Stuart, one of the world's leading executive search firms to identify and help evaluate potential candidates.

 

"We were extremely pleased with the number of highly qualified candidates who were interested in serving on our Board. From this strong list of candidates we were able to identify three excellent nominees who we believe are highly additive to our independent Board in terms of experience, skill sets and leadership styles," Affeldt said. "We appreciated the time commitment all candidates made to meet in-person with our five-member selection committee. This Board-succession process allowed us to identify highly qualified candidates to help lead Cedar Fair as we pursue our FUNforward growth strategy."

 

Hanrahan brings more than 30 years of experience, including a variety of sales and marketing, general manager, president and chief executive officer roles across the consumer packaged goods, retail and travel & hospitality sectors. Currently, he serves as the president and CEO of Celebrity Cruises, a division of Royal Caribbean Cruises (NYSE: RCL). He was promoted to president in 2005 and to CEO in 2007 after his highly successful management of the sales and marketing division for Royal Caribbean. Prior to joining Royal Caribbean, Hanrahan served in executive-level positions with Polaroid Corporation and Reebok International Ltd. He also currently serves on the executive committee of the Florida Caribbean Cruise Association (FCCA). In 2004, he was named one of the "Top 25 Extraordinary Minds in Hospitality Sales and Marketing" by Hospitality and Sales Marketing Association International.

 

Shanahan is a seasoned retail executive with more than 20 years of senior-level experience across global, multi-channel, multi-brand enterprises and other specialty retail, including The Gap, Inc. She joined The Gap in 1992 and served in numerous leadership roles including chief administrative officer, chief legal officer and corporate secretary during her 16-year career with the company. She currently serves on the Board of Directors of Deckers Outdoor Corporation, a footwear, accessories and apparel lifestyle company with a portfolio of premium brands and over $1.3B in revenues, and Charlotte Russe Holding, Inc., a growing specialty retailer of fashionable, value-priced apparel and accessories with over 500 stores. In addition, Shanahan is a principal with Maroon Peak Advisors, which provides a broad range of advisory services in the retail and consumer products sector.

 

Smithart-Oglesby is a former certified public accountant with more than 30 years of financial and corporate leadership experience in the food service and retail industries. Since 2006, she has served as the chair of the Board of Directors of Denny's Corporation, a full-service, family-style restaurant chain with approximately 1,680 eateries throughout the United States and nine countries. She joined the Denny's Board in 2003 and was the company's interim chief executive officer in 2010-2011. Since 2000, she has been the president of O&S Partners, an investment capital and consulting services firm that invests in and consults early-stage and transitioning hospitality and retail companies. Prior to joining O&S, Smithart-Oglesby helped to launch Dekor, Inc., a start-up company in the home improvement and decorating retail segment, as its chief financial officer. From 1997 to 1999, she was the president, corporate services and chief financial officer of First America Automotive, Inc., a new and used car retailer sold to Sonic Automotive. Prior to that, she spent 13 years as the executive vice president and chief financial officer for Brinker International, one of the world's leading casual dining restaurant companies. She held the position of chief financial officer and served on the Brinker Board from 1991 to 1997.

 

"Dan, Lauri and Debra have outstanding leadership skills and extensive experience across a wide spectrum of consumer-facing industries. Their unique insight and perspective will be invaluable to the Board's ability to support Cedar Fair's future strategic growth and business objectives and unitholder value creation momentum," Affeldt said. "In addition to their business acumen, these are three exceptional individuals with strong character and ethics. We are excited to add them to our Board."

 

Affeldt added, "On behalf of the Board and the management team, I would also like to thank Tom, Michael and Steven for their years of dedicated service to our fellow Cedar Fair unitholders. They have been valuable members of our Board and have helped put Cedar Fair in a very strong position for future growth and prosperity."

 

According to Affeldt, following the election, the newly constituted nine-member Board – which includes seven independent directors – will determine the appropriate succession for the non-executive chairman position in the wake of Harvie's retirement from the Board.

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  • 2 months later...

http://www.cedarfair.com/ir/press_releases/index.cfm?current_root=15&mode=story&story_id=352

 

Cedar Fair (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that unitholders have elected three new members to the Board of Directors of its general partner, Cedar Fair Management, Inc., for three-year terms expiring in 2015.

 

The limited partners also confirmed the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm and approved an advisory vote on the compensation of the Company's named executive officers.

 

The new directors are:

 

Daniel J. Hanrahan, 54, brings more than 30 years of experience, including a variety of sales and marketing, general manager, president and chief executive officer roles across the consumer packaged goods, retail, travel and hospitality sectors. Currently, he serves as the president and CEO of Celebrity Cruises, a division of Royal Caribbean Cruises (NYSE: RCL).

 

Lauri M. Shanahan, 49, is a seasoned retail executive with more than 20 years of senior-level experience across global, multi-channel, multi-brand enterprises and other specialty retail, including Gap, Inc. She currently serves on the Board of Directors of Deckers Outdoor Corporation, a footwear, accessories and apparel lifestyle company with a portfolio of premium brands and over $1.3 billion in revenues, and Charlotte Russe Holding, Inc., a growing specialty retailer of fashionable, value-priced apparel and accessories with over 500 stores. In addition, Ms. Shanahan is a principal with Maroon Peak Advisors, which provides a broad range of advisory services in the retail and consumer products sector.

 

Debra Smithart-Oglesby, 57, is a former certified public accountant with more than 30 years of financial and corporate leadership experience in the food service and retail industries. Since 2006, she has served as the chair of the Board of Directors of Denny's Corporation, a full-service, family-style restaurant chain with approximately 1,680 eateries throughout the United States and nine countries.

 

"We are pleased to have Dan, Lauri and Debra join our Board of Directors," said Eric L. Affeldt, Cedar Fair's newly appointed Independent Chairman of the Board. "Their industry expertise and leadership experience will benefit our board and we look forward to their participation."

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  • 2 weeks later...
Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today reported that preliminary revenues through the Fourth of July holiday weekend were approximately $456 million, an increase of more than $20 million, or 5%, when compared with the same period a year ago...

 

Attendance up 2%, hotel and non-park revenue up 2%, and per cap spending up 4%. Sounds like a good start to the year.

 

 

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Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today reported that preliminary revenues through the Fourth of July holiday weekend were approximately $456 million, an increase of more than $20 million, or 5%, when compared with the same period a year ago...

 

Attendance up 2%, hotel and non-park revenue up 2%, and per cap spending up 4%. Sounds like a good start to the year.

 

 

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Funny how it seems like cap ex improvements for 2013 will be rather minimal.

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^I think it will very closely mirror last year. One giant coaster installation, a couple of smaller ones, dinos, and maybe even something to help people in a couple markets cool off. There is also that last Windseeker still waiting for a home.

 

To be fair, I can kind of see why it might feel that way since the big project (CP's Wingrider) is already out of the bag. $25 million is a big chunk of the $70-$80 CF has been spending each year in cap ex. However, I think there will be a few more things to get excited about for certain parks.

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Cedar Fair (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that unitholders have elected

 

I love how they use the word "elected" as if the shareholders have a choice in the matter with multiple candidates, etc. I guess Saddam Hussein was "elected" as well.

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My guesses for 2013 additions:

 

Cedar Point: B&M Wingrider

California's Great America: GCI

Worlds of Fun: Windseeker and Dinosaur's Alive

Valley Fair: Dinosaur's Alive

Canada's Wonderland: Soak City retheme

Kings Dominion: Soak City retheme

Carowinds: Soak City retheme

Dorney Park: nothing major

Kings Island: nothing major

Michigan's Adventure: nothing major

Knotts Berry Farm: nothing major

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My guesses for 2013 additions:

 

Cedar Point: B&M Wingrider

California's Great America: GCI

Worlds of Fun: Windseeker and Dinosaur's Alive

Valley Fair: Dinosaur's Alive

Canada's Wonderland: Soak City retheme

Kings Dominion: Soak City retheme

Carowinds: Soak City retheme

Dorney Park: nothing major

Kings Island: nothing major

Michigan's Adventure: nothing major

Knotts Berry Farm: nothing major

 

The first two are a given as CP's plans were leaked & CGA is self explanitory with the work going on & it's great to see them finally get a much needed major ride that they could've had already had their neighbors not put up such opposition to it.

 

If KD does a waterpark retheme I'd love to see the old side of the waterpark removed & the slides relocated to the south end behind rebel yell to make things more organized & grouped together while freeing up some land to expand the grove in the future with a couple more flats & perhaps a small coaster,but only if said coaster can be "separated" from the growing coaster collection in the congo area of the park.

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Just hope this doesn't mean Johnny Rocket's won't be replaced by Denny's.

My family and I are vegan, and we make our lunch at "the world's largets Johnny Rockets" (at Knott's, with Johnny Rockets having a vegan burger) the highlight of our day. Replacing any Johnny Rocket's with a Denny's would be horrific.

Glad to see that their bottom line isn't being hurt by this really non-existent boycott, I think line-skipping systems are terrific. I tend to use them about once a year as a day to give myself some ERT.

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Well, keep in mind that Cedar Point back in 1974 was very little like the Cedar Point of today. They were still on the road to recovery after the depression they got into with the 40's and 50's. They only had four roller coasters, the biggest being the Jumbo Jet. While they were still a popular park, there were a lot of parks opening in the 70's (Kings Island opened in '72, Geauga Lake was starting to expand with bigger rides, and those are just the other two "big" Ohio parks). I think the draw was that it would allow them to get even more guests (and some twice, like they do with Michigan's Adventure) as well as the fact that they would have had a ton of land fresh for a completely new development.

 

There is a little talk about it in the Queen of American Watering Places book (page 184), I think I covered some of what is mentioned in there. Some highlights that book adds include a projected cost of $15 million, as well as the park being themed to Michigan's history. They also mention how it was supposed to open in 1976. The book also mentions the Battle Creek land, which would have cost them $2 million for the land, with a projected project cost of $25 million. The Battle Creek property would have opened in 1978, had 26 rides and had 1,200 seasonal employees.

 

As far as other parks that were operating in Michigan back then, you're looking at Bob-lo Island, Edgewater Park, Lake Lansing Park (final season in 1974), Michigan's Adventure (then known as Deer Park) and the small 10-acre Utica Amusement Park (known as Riverland more recently). Of those, only Michigan's Adventure remains today as a major amusement park in the state.

 

Very interesting history there about CF but didn't they aqquire VF at or around that time? It was that aqquisition which gave the company it's name that we now know it as today.

 

It's rather funny how,back in the 70's & most of the 80's the parks weren't driven by adding big coasters on the order of every other year....it wasn't really until magnum came along that the coaster wars really got started,first over height/length & speed that has since progressed into the total number of coasters within a given park.

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  • 4 weeks later...

CEDAR FAIR ANNOUNCES RECORD 2012 SECOND QUARTER RESULTS

SANDUSKY, Ohio, Aug. 9, 2012 -- Cedar Fair Entertainment Company (NYSE: FUN) today reported record results for its second quarter ended July 1, 2012 and provided attendance and revenue trends through this past Sunday, August 5, 2012.

 

Highlights

 

Revenues through August 5, 2012 were up approximately $21 million, or 3%, when compared with August 7, 2011, on a 4%, or $1.46, increase in average in-park guest per capita spending and a 2%, or approximately $1 million, increase in out-of-park revenues.

"FUNforward" growth initiatives announced in January continue to gain traction with guests, including a new e-commerce platform and premium benefit offerings.

The Company reaffirmed its full-year guidance of net revenues between $1.055 billion and $1.075 billion and Adjusted EBITDA between $385 million and $395 million.

The Company declared a quarterly cash distribution of $0.40 per Limited Partner (LP) unit payable September 17, 2012; confirmed it is on track to pay a record distribution of more than $2.00 per LP unit in 2013.

Commenting on the Company's second-quarter results and trends through August 5, 2012, Matt Ouimet, Cedar Fair's president and chief executive officer, said, "We are pleased with our record second-quarter results and the traction we have gained on our FUNforward growth initiatives. Our ability to stay on pace for a third consecutive record year speaks to the strength and quality of our parks and the services provided by our employees. While we experienced a solid increase in our attendance during the second quarter, it is equally pleasing that we reported a similar increase in our average in-park guest spend. New rides and attractions, premium benefit offerings and a new e-commerce platform have all contributed to these positive results, and we believe they will continue to be successful into the balance of the summer as well as our fall Halloween events."

 

Second Quarter Results

 

As a result of the fiscal calendar, which includes an extra week and an additional 106 operating days (at all parks combined), net revenues for the fiscal second quarter increased to $357.6 million from $284.5 million in the second quarter ended June 26, 2011. Net income for the current quarter was $36.3 million, or $0.65 per diluted LP unit, versus $4.3 million, or $0.08 per diluted LP unit, for the same period in 2011.

 

The increase in net revenues and net income for the second quarter were in large part the result of the aforementioned 13% increase in the number of operating days in 2012 due to the timing of the fiscal second quarter close (14 weeks vs. 13 weeks). Comparing both 2012 and 2011 on a 14-week basis, total revenues for the period were up $19.0 million, or 6%, on a 3%, or 218,000-visit, increase in attendance; a 3%, or $1.09, increase in average in-park guest per capita spending; and a 7%, or $2.3 million, increase in out-of-park revenues.

 

For the fiscal second quarter ended July 1, 2012, Adjusted EBITDA, which management believes is a meaningful measure of the Company's park-level operating results, increased to $135.0 million compared with $95.9 million for the fiscal second quarter ended June 26, 2011. On a comparable 14-week basis, Adjusted EBITDA would have been up approximately $6.5 million, or 5%, as of July 1, 2012. See the attached table for a reconciliation of adjusted EBITDA to net income.

 

July Operations

 

Based on preliminary results, year-to-date revenues through August 5, 2012 increased 3%, or approximately $21 million, on a comparable operating week basis. This increase reflects a 4%, or $1.46, increase in average in-park guest per capita spending and a 2% increase in out-of-park revenues. Attendance for the seven-month period was comparable to the record-setting performance of a year ago.

 

"Our FUNforward growth initiatives announced in January have allowed us to continue to grow revenues during the current operating season," said Ouimet. "These initiatives have resonated very well with our guests and they have clearly begun to pay dividends for us, as evidenced by our record season pass sales and increased guest per capita spending."

 

Cash Flow and Liquidity Remain Strong

 

As of July 1, 2012, the Company had $1.14 billion of variable-rate term debt (before giving consideration to fixed-rate interest rate swaps), $400.6 million of fixed-rate debt, $111.0 million borrowed under its revolving credit facilities and $35.9 million in cash on hand. The Company believes its credit facilities and cash flows are sufficient to meet working capital needs, debt service, planned capital expenditures and distributions for the foreseeable future.

 

Distribution

 

The Company also announced today the declaration of a cash distribution of $0.40 per LP unit. The distribution will be paid on September 17, 2012, to unitholders of record as of September 5, 2012. "This distribution is consistent with our targeted annualized distribution rate of $1.60 per LP unit for 2012," said Ouimet. "Based on our current results and expectations through the second half of 2012, we are on track to have a record distribution of more than $2.00 per LP unit in 2013."

 

Outlook

 

According to Ouimet, the Company's new attractions, such as the 306-foot-tall Leviathan roller coaster at Canada's Wonderland, the water park expansion and Soak City branding at Kings Island and the Luminosity night-time show at Cedar Point, are getting strong reviews from park guests. "We introduced a variety of new offerings this year across all of our properties and we are pleased with the response to these investments," he said. "We are committed to providing our guests with the 'best-day-of-the-year' experience they have come to expect when they visit our parks. By providing our guests with a collection of the industry's best thrill and family rides and attractions and continuing to add new and innovative experiences, we continue to send our guests home happy and looking forward to a return visit.

 

"While we have approximately one-third of our operating season still ahead of us, we feel very good about how the year is tracking thus far as we head into the next peak vacation month of August and into the fall season," said Ouimet. "Based on the strength of our preliminary results through July, we are reaffirming our full-year guidance of net revenues between $1.055 billion and $1.075 billion and full-year Adjusted EBITDA between $385 million and $395 million, which represents an increase of $10 million to $20 million over last year's record Adjusted EBITDA."

 

Correction of Depreciation Expense in Prior Periods

 

The accompanying financial tables reflect adjustments to depreciation expense previously reported for all prior periods, including the related cumulative impact on total assets and total partners' equity as of June 26, 2011. These adjustments relate to the Company's misapplication of certain elements of the composite depreciation method. The impact of these adjustments was not deemed to be material to the results of operations, total assets or partners' equity for the previously reported periods. Further detail of these adjustments will be included in our July 1, 2012 Form 10-Q.

 

Conference Call

 

The Company will host a conference call with analysts today, August 9, 2012, at 10:00 a.m. Eastern Time, which will be web cast live in "listen only" mode via the Cedar Fair web-site (www.cedarfair.com). It will also be available for replay starting at 1:00 p.m. ET, Thursday, August 9, 2012, until 11:59 p.m. ET, Thursday, August 23, 2012. In order to access the replay of the earnings call, please dial 1-877-870-5176 followed by the access code 4550464.

 

About Cedar Fair

 

Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, and Toronto, Ontario. Cedar Fair also operates the Gilroy Gardens Family Theme Park in California under a management contract. Cedar Fair's flagship park, Cedar Point, has been consistently voted the "Best Amusement Park in the World" in a prestigious annual poll conducted by Amusement Today newspaper.

 

Forward-Looking Statements

 

Some of the statements contained in this news release constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including statements as to the Company's expectations, beliefs and strategies regarding the future. These statements may involve risk and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, adverse weather conditions, competition for consumer leisure time and spending, unanticipated construction delays and other factors discussed from time to time by the Company in reports filed with the Securities and Exchange Commission (the "SEC") could affect attendance at our parks and cause actual results to differ materially from the Company's expectations. Additional information on risk factors that may affect the business and financial results of the Company can be found in the Company's Annual Report on Form 10-K and in the filings of the Company made from time to time with the SEC. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Just hope this doesn't mean Johnny Rocket's won't be replaced by Denny's.

My family and I are vegan, and we make our lunch at "the world's largets Johnny Rockets" (at Knott's, with Johnny Rockets having a vegan burger) the highlight of our day. Replacing any Johnny Rocket's with a Denny's would be p

 

The highlight of your day? Kind of sad on bot accounts.

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  • 3 weeks later...

I'm hearing a rumor that CF Platinum Passes may be heading north again from their current $179 price tag. Some parks are offering discount pricing from Sept 1 until the end of October with easy pay. If it's offered at your home park why not take advantage of the discount, it may save you a nice chunk of change.

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  • 2 weeks later...

http://www.prnewswire.com/news-releases/accesso-to-incorporate-attraction-ticketing-into-apples-new-passbook-app-169156576.html

 

accesso, a leading provider of attraction ticketing, will be one of the first travel industry suppliers to adapt its ticketing platform to support Passbook, a new mobile device feature in Apple's new iOS6 operating system.

 

Passbook will allow iPhone users who upgrade to the new Apple iOS6 operating system to collect and more easily access digital versions of boarding passes, loyalty rewards and theme park, concert or sporting event tickets in one convenient iPhone app. With mobile phone users storing an increasing number of various barcodes and entitlements, Apple's latest enhancement will simplify and streamline the process for users of its renowned iPhone device.

 

With accesso's new enhancement, consumers will be able to import ticket purchases from attractions including 11 Cedar Fair Entertainment theme parks as well as the Columbus Zoo and Aquarium directly into their Passbook app.

 

"Mobile commerce has become a vital sales strategy for theme parks and other attraction venues, not to mention a guest expectation," said Steve Brown, accesso CEO. "We know iPhone users will be eager to leverage this dynamic new technology so we worked aggressively to integrate with the new operating system well in advance so that our clients and their guests can begin leveraging Apple's new Passbook feature from day one."

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