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Cedar Fair reports revenues up $33 million


– Revenues up approximately $33 million, or 4%, through Labor Day Weekend year-over-year

– Company reaffirms full-year revenue and adjusted EBITDA guidance

– Company on track to pay 70 cent distribution in December, totaling $1.00 per unit to be paid in 2011

SANDUSKY, Ohio, USA /PRNewswire/ — Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, reported that it has continued its strong performance through Labor Day weekend.

As of September 4, 2011, year-to-date revenues increased approximately $33 million, or 4%, to approximately $857 million compared with $824 million for the same period a year ago. Driving this year-over-year growth was a 2% increase in attendance to 19.1 million visitors, coupled with a 2% increase in in-park guest per capita spending to $40.10 and a 5% increase in out-of-park revenues to approximately $90 million.

“The summer of 2011 is proving to be another strong operating season for Cedar Fair,” said Dick Kinzel, chief executive officer. “Our new rides and attractions, including WindSeeker, a 301-foot-tall thrill ride introduced at our four largest parks, continued to attract guests during the peak vacation month of August. Our creative marketing efforts and pricing initiatives also continued to drive growth, particularly at Canada’s Wonderland, Knott’s Berry Farm, Kings Island and California’s Great America.

“As we head into our award-winning Halloween season, we feel very good about the steadily increasing momentum we are building across our well-maintained and diversified portfolio of parks,” added Kinzel. “Should these trends continue throughout our important Fall season, we will generate full-year net revenues at the high end or slightly above our previous guidance of $975 million to $1.0 billion. At the same time, assuming similar trends, we believe our full-year adjusted EBITDA will be at the middle to upper end of our guidance of $350 million to $370 million.”

Kinzel concluded by noting the Company is on track to pay a 70 cent per unit distribution in December, bringing the total amount of distributions paid in 2011 to $1.00 per unit. The Company continues to target an annualized distribution rate of $2.00 or more per unit in 2013.

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 is Cedar Point.

Judith Rubin
Judith Rubin ([email protected]) is a leading journalist, publicist, strategist, blogger, content marketing specialist and connector in the international attractions industry. She excels at writing about all aspects of design and technical design, production and project management. Areas of special interest include AV integration and show control, lighting design and acoustics, specialty cinema, digital video and world’s fairs. Judith has ties to numerous industry organizations. From 2005-2020 she ran communications, publications and social media for the Themed Entertainment Association (TEA). In 2013, she was honored with the TEA Service Award. She was development director of IMERSA, and co-chair of the 2014 IMERSA Summit. She was publicist for the Large Format Cinema Association in the 1990s, now part of the Giant Screen Cinema Association (GSCA) and has also contributed to the publications of PLASA, IAAPA and the International Planetarium Society. Already making her mark as a magazine and book editor, Judith joined World’s Fair magazine in 1987, which introduced her to the attractions industry. Launching as a freelancer in the mid 1990s she has contributed to dozens of publications and media outlets including Funworld, Lighting&Sound America, Sound & Communications, Urban Land, The Raconteur and The Planetarian. She joined InPark in 2010. Judith earned a Bachelor of Fine Arts from Pratt Institute. She has lived in New York City and the San Francisco Bay Area, and now makes her home in Saint Louis, where she is active in the local arts and theater community.

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