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Cedar Fair, L.P. (NYSE: FUN) is a publicly traded partnership headquartered in Sandusky, Ohio, recognized as one of the largest regional amusement-resort operators in the world. Cedar Fair owns and operates 11 amusement parks, six outdoor water parks, one indoor water park, and five hotels across North America. Their famed parks include Cedar Point, consistently voted as the
Cedar Fair Entertainment Company (NYSE: FUN) reported its 2021 financial results, highlighting a net revenue of $1.34 billion despite a 70% attendance rate compared to 2019 levels. In-park spending reached a record $62.03 per guest, marking a 28% increase from 2019. The company faced a net loss of $49 million and Adjusted EBITDA of $325 million, a significant recovery from the previous year's losses. Management expressed confidence in reinstating a quarterly cash distribution by Q3 2022, driven by strong season pass sales and strategic initiatives aimed at enhancing guest experiences.
Cedar Fair, L.P. (NYSE: FUN) has received an unsolicited non-binding acquisition proposal from SeaWorld Entertainment, Inc. The Cedar Fair Board of Directors will review the proposal in consultation with independent legal and financial advisors to determine the best course of action for the company and its unitholders. Unitholders are advised not to take any action at this time. Perella Weinberg Partners L.P. is advising Cedar Fair financially, while Weil, Gotshal & Manges provides legal counsel.
Cedar Fair (NYSE: FUN) will announce its 2021 fourth-quarter and full-year financial results on February 16, 2022, before the market opens. A conference call with management, including CEO Richard Zimmerman and CFO Brian Witherow, will follow at 10 a.m. EST to discuss the results and the company’s future outlook. Investors can access a live audio webcast of the call on Cedar Fair’s investor site. Cedar Fair operates 13 properties, including 11 amusement parks and 4 water parks, focused on providing memorable entertainment experiences.
Cedar Fair Entertainment Company (NYSE: FUN) announced a full redemption of its 5.375% Notes due June 2024, with $450 million outstanding. The redemption will occur on December 17, 2021, as part of the company's strategy to reduce debt to a target of $2 billion. President and CEO Richard A. Zimmerman highlighted the company's recovery from the pandemic and plans to reinstate quarterly cash distributions to unitholders by Q1 2023. Post-redemption, annual interest expense will be around $150 million.
Cedar Fair Entertainment Company (NYSE: FUN) has appointed Brian Nurse as executive vice president, chief legal officer, and secretary. He will be based in Charlotte, North Carolina, reporting to CEO Richard A. Zimmerman. Nurse brings over 25 years of experience from roles at notable companies such as WWE and PepsiCo. His extensive background in legal affairs and corporate governance will support Cedar Fair's strategic initiatives. This move aims to enhance legal oversight as the company operates its 13 amusement and water parks across North America.
Cedar Fair (NYSE: FUN) reported a record third quarter for 2021 with net revenues of $753 million, up 5% from 2019. This growth is attributed to attendance at approximately 82% of 2019 levels and record in-park per capita spending of $64.26, a 29% increase from 2019. October 2021 saw revenues of $219 million, a 42% increase from 2019. The company plans to pay down debt and resume cash distributions to unitholders by early 2023, driven by strong demand and consumer spending trends.
Cedar Fair Entertainment Company (NYSE: FUN) will announce its 2021 third quarter financial results before market opens on November 3, 2021. Following the release, a conference call will be held at 10 a.m. EDT, featuring Cedar Fair's President and CEO Richard Zimmerman, along with CFO Brian Witherow and Investor Relations Director Michael Russell. Investors can listen via a live audio webcast on Cedar Fair's investor site. The company operates 13 properties including amusement parks and water parks across the U.S. and Canada, focusing on providing memorable experiences.
Cedar Fair Entertainment Company (NYSE: FUN) announced participation in the KeyBanc Capital Markets Leisure Summer Roundup Conference on Thursday, Sept. 23, 2021. The discussion will feature President and CEO Richard Zimmerman and Executive Vice President and CFO Brian Witherow in a 30-minute fireside chat starting at 10:40 a.m. ET. Investors can access the live chat via Cedar Fair's Investors website, with no replay available. Cedar Fair operates 13 properties, including 11 amusement parks and four water parks, dedicated to providing immersive entertainment experiences.
Cedar Fair Entertainment Company (NYSE: FUN) has appointed Ty Tastepe as the new Senior Vice President and Chief Information Officer. Located in Charlotte, North Carolina, he will report directly to CEO Richard A. Zimmerman. Tastepe brings over 20 years of experience in digital transformation from major brands like Universal, Hilton, and Disney. His expertise aims to enhance guest experiences and strengthen Cedar Fair's technology and data security initiatives, aligning with the company's investment priorities.
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