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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
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Cedar Fair, L.P. (NYSE: FUN) announced the expiration and results of its consent solicitation for proposed amendments to the indentures governing its 5.375% Senior Notes due 2027, 5.250% Senior Notes due 2029, 5.500% Senior Secured Notes due 2025, and 6.500% Senior Notes due 2028. The Co-Issuers obtained the consents required to effect the Proposed Amendments under the terms of each Indenture, with approximately 97.70% of the outstanding 2027 Notes, 94.44% of the outstanding 2029 Notes, 90.22% of the outstanding 2025 Notes, and 97.90% of the outstanding 2028 Notes providing consents. Holders who provided valid consents are eligible to receive a cash payment for the benefit of the Holders of such series of Notes on the Record Date. The Co-Issuers expect to pay the Consent Payment upon or immediately prior to consummation of the Merger.
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Cedar Fair, L.P. announces a solicitation of consents from holders of its Senior Notes due 2027, 2029, 2025, and 2028 to adopt proposed amendments to the indentures governing the notes. The proposed amendments aim to enable the company to select the date of the merger agreement with Six Flags Entertainment Corporation as the testing date for certain ratio tests. The record date for the consent solicitation is November 2, 2023.
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Land & Buildings Investment Management, LLC (Land & Buildings), a significant shareholder of Six Flags Entertainment Corporation, believes that the proposed merger with Cedar Fair does not maximize value for all shareholders. They suggest monetizing Six Flags' real estate, which they estimate to be worth nearly $30 per share. Land & Buildings intends to vote against the merger and explore other options to realize full value for shareholders.
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Cedar Fair Entertainment Company (NYSE: FUN) announced its financial results for Q3 2023, reporting net revenues of $842 million, a decrease of $1 million from the same period last year. Net income was $215 million, a decrease of $118 million. Adjusted EBITDA increased by 7% to $388 million. Attendance increased by 1% to 12.4 million guests. In-park per capita spending decreased by 2% to $61.65. The company also announced a cash distribution of $0.30 per limited partner unit.
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Cedar Fair and Six Flags Entertainment Corporation have entered into a definitive merger agreement to combine in a merger of equals transaction. The combined company will have an expanded and diversified footprint, a more robust operating model, and a strong revenue and cash flow generation profile. The merger is expected to create approximately $200 million of annual synergies, including $120 million of cost savings within two years. Cedar Fair unitholders will own approximately 51.2% of the combined company, while Six Flags shareholders will own approximately 48.8%. The transaction is expected to close in the first half of 2024.
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Cedar Fair Entertainment Company to release 2023 Q3 financial results on Nov. 2, 2023
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Cedar Fair Entertainment Company announces the opening of Cedar Point Esports, a new gaming facility in Ohio, on October 6, 2023. The facility will initially cover an area of over 1,000 square feet and include 32 gaming stations. Cedar Point Esports aims to tap into the growing popularity of esports and gaming entertainment. The company has partnered with North Coast Entertainment to deliver innovative gaming experiences. The facility will focus on organizing leagues, camps, and clinics for aspiring esports athletes and will also host high school and collegiate gaming events. Cedar Point Esports plans to collaborate with regional schools to offer a computer lab and remote learning facility.
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Cedar Fair Entertainment Company earns three honors in Amusement Today's Golden Ticket Awards
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Dorney Park announces Halloween Haunt and The Great Pumpkin Fest with new attractions and entertainment
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Matthew A. Ouimet steps down from Cedar Fair's board of directors.
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FAQ
What is the current stock price of Six Flags Entertainment Corporation (FUN)?
The current stock price of Six Flags Entertainment Corporation (FUN) is $45.43 as of November 22, 2024.
What is the market cap of Six Flags Entertainment Corporation (FUN)?
The market cap of Six Flags Entertainment Corporation (FUN) is approximately 4.5B.
What is Cedar Fair, L.P.?
Cedar Fair, L.P. is a publicly traded partnership that operates 11 amusement parks, six outdoor water parks, one indoor water park, and five hotels across North America.
Where is Cedar Fair headquartered?
Cedar Fair is headquartered in Sandusky, Ohio.
Which parks are operated by Cedar Fair?
Cedar Fair operates well-known parks such as Cedar Point, Kings Island, Canada's Wonderland, Dorney Park, Valleyfair, Michigan's Adventure, Kings Dominion, Carowinds, Worlds of Fun, Knott's Berry Farm, and California's Great America.
What recent developments have been announced by Cedar Fair?
Recent developments include the Carowinds Summer Music Fest, the introduction of Iron Menace at Dorney Park, the return of ValleyScare at Valleyfair, and the launch of Top Thrill 2 at Cedar Point.
How does Cedar Fair generate revenue?
Cedar Fair generates revenue from admission fees, parking fees, extra-charge attractions, food and beverages, merchandise, and accommodation services.
What new attractions have been announced recently?
New attractions include Iron Menace at Dorney Park, Top Thrill 2 at Cedar Point, and an expanded ValleyScare event at Valleyfair.
How can I learn more about Cedar Fair's parks?
You can visit Cedar Fair's official website at www.cedarfair.com for detailed information about their parks, attractions, events, and accommodations.
Is Cedar Fair involved in any partnerships?
Yes, Cedar Fair frequently collaborates with various brands and companies for events and attractions, such as the Carowinds Summer Music Fest in partnership with Coca-Cola.
What makes Cedar Point notable among Cedar Fair's parks?
Cedar Point is renowned for its record-breaking roller coasters, including the new Top Thrill 2, which is the world's tallest and fastest triple-launch strata coaster.
How can I purchase tickets or season passes for Cedar Fair's parks?
Tickets and season passes can be purchased through the official websites of Cedar Fair's individual parks or through www.cedarfair.com.
Six Flags Entertainment Corporation
NYSE:FUN
FUN Rankings
FUN Stock Data
4.55B
99.23M
0.96%
93.98%
8.97%
Leisure
Services-amusement & Recreation Services
United States of America
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