NewsPlusNotes: Heard On... Cedar Fair Q2 Conference Call

Saturday, August 8, 2009

Heard On... Cedar Fair Q2 Conference Call

Finally had some time to catch up on Cedar Fair's recent second quarter 2009 earnings conference call... and there were actually some interesting items discussed:

• Dorney Park has had its third wettest season ever, causing a substantial loss at the gate. Considering I'm a few miles from the park, I agree.

• Kinzel noted that they "delayed one of our capital programs that was supposed to go into one of our parks until 2010." I'm assuming this is the GCI wooden coaster at Great America. I thought it was off all together, will we still see that announced soon?!

• Star Trek the Experience only brought the company about $6 million in revenues in the first half of 2008, so it's ceased operations are basically no big whoop for the company.

• Worlds of Fun and Valleyfair! are still for sale, but there's no news to report and they will not sell the parks at a low price just to get some cash. They are "not optimistic" that a sale of either park will happen in the next 5 months.

• They've finally adapted the special events mentality that Paramount did at the parks to try to drum up interest... hence Nik Wallenda, Staycations, Jeff Gordon, etc.

• Total capital expenditures for 2010 will be back to 'normal' which is more like $80-90 million than this year's $60ish.

• They're still happy with the big coaster additions at Canada's Wonderland and Kings Island and think that the upcoming announcements (Carowinds and Kings Dominion) will show further commitment to that.

• They still want to sell Geauga's 700 acres of land, but all offers were too low. They do mention that the water park there is doing "well" for them this year.

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