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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 strong performance through Labor Day, with 2021 attendance hitting 12.9 million and net revenues reaching $879 million. This marks a significant increase from 2020's figures of 2.1 million visits and $134 million in revenues. For the comparable 10-week period, revenues increased by $3 million from 2019 to $645 million, with in-park spending up by 25%. The company anticipates continued momentum into 2022, with season pass sales surpassing early numbers from the previous record year, underlining robust demand for immersive experiences.
Cedar Fair Entertainment Company (NYSE: FUN) reported strong demand for its amusement and water parks in Q2 2021, with net revenues reaching $224 million, up from $7 million in Q2 2020. Attendance rose by 3.4 million visits thanks to 354 additional operating days compared to last year. In-park per capita spending increased to $55.94. While total operating costs rose to $227 million, the operating loss decreased to $38 million from $142 million in 2020. The company maintains strong liquidity with $652 million available and anticipates $50 million in annual run-rate benefits from its Business Optimization Program.
Cedar Fair Entertainment Company (NYSE: FUN) is considering the development of a new esports arena in Sandusky, aiming to attract youth and collegiate gaming. The proposed venue will accommodate 1,500 spectators and feature 200 gaming stations, enhancing the entertainment offerings at Cedar Point. Partnering with Esports Development Co. LLC, the estimated cost of the project is $28 million. If approved, construction is expected to start before year-end, with opening anticipated in the first half of 2023.
Cedar Fair Entertainment Company (NYSE: FUN) will release its 2021 second quarter financial results on Wednesday, August 4, 2021, before the market opens. A conference call with management, including President and CEO Richard Zimmerman and CFO Brian Witherow, will follow at 10 a.m. EDT to discuss the results and provide a business outlook. Investors can listen via a live webcast on Cedar Fair’s investor site, with a recorded version available shortly after the call concludes.
Cedar Fair, L.P. (NYSE: FUN) has announced an extension of the expiration date for its exchange offer of $300 million in aggregate principal amount of 6.500% Senior Notes due 2028. The new expiration is set for July 16, 2021, having been originally scheduled for July 13, 2021. As of July 12, 2021, holders had tendered $218.31 million of the outstanding notes. The exchange will facilitate the transition from unregistered to registered securities, aiming to enhance liquidity for investors.
Cedar Fair Entertainment Company (NYSE: FUN) announced the transition of Duffield E. Milkie from his role as Executive Vice President, General Counsel, and Corporate Secretary after nearly 14 years. His resignation is effective immediately, although he will continue as an employee until September 30, 2021, in a nonexecutive capacity. After this date, he will serve as Of Counsel Advisor until February 2022. CEO Richard A. Zimmerman praised Milkie's leadership during transformative company developments and highlighted his contributions to successful public/private partnerships.
Cedar Fair Entertainment Company (NYSE: FUN) will participate in the Stifel 2021 Virtual Cross Sector Insight Conference from June 8-10. President and CEO Richard Zimmerman is set for a fireside chat on June 10 at 10:40 a.m. ET. The presentation will last 30 minutes and can be accessed via a live webcast on Cedar Fair's Investor website. A replay will be available post-event. Cedar Fair operates 13 properties, including amusement and water parks, committed to providing memorable experiences across various U.S. states and Ontario, Canada.
Cedar Fair Entertainment Company (NYSE: FUN) is set to participate in the Goldman Sachs Travel and Leisure Conference on June 7-8, 2021. CEO Richard Zimmerman will engage in a 30-minute analyst-led 'fireside chat' on June 8 at 10:35 a.m. ET. Investors can access the live webcast on Cedar Fair’s Investor website under the 'Events & Presentations' section. A replay will be available afterward. Cedar Fair operates 13 properties, including 11 amusement parks and 4 water parks, across various states and Canada, focusing on creating immersive, memorable experiences.
Cedar Fair Entertainment Company (NYSE: FUN) reported its Q1 2021 results, revealing a significant decline in revenues to $10 million, down from $54 million in Q1 2020 due to pandemic impacts. Attendance fell by 936,000 visits, while operating costs decreased to $99 million from $138 million. The company recorded a net loss of $110 million, or $1.95 per diluted LP unit, an improvement from a $216 million loss in the prior year. The balance sheet remains stable with $272 million cash on hand and $631 million in total liquidity, while the company prepares to reopen parks by Memorial Day Weekend.
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