June 16, 2000
Sandusky, OH -- Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which owns and operates five amusement parks and four water parks, has declared a regular quarterly cash distribution of $0.375 per unit, payable August 15, 2000, to holders of record July 6, 2000. This distribution continues the Partnership's annualized distribution rate of $1.50 per unit.
Richard L. Kinzel, president and chief executive officer, also reported that early-season operations at the parks have been encouraging, although Dorney Park and Valleyfair have suffered somewhat due to poor spring weather thus far this season. "All of the new rides and attractions we have introduced at our parks this year have been received very well by their local markets," said Kinzel. "The popularity of these new rides and attractions gives us confidence that each of our parks is well-positioned for a strong 2000."
Cedar Fair's five amusement parks are Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott's Berry Farm in Buena Park, California, near Los Angeles; Dorney Park & Wildwater Kingdom near Allentown, Pennsylvania; Valleyfair near Minneapolis / St. Paul; and Worlds of Fun and Oceans of Fun, located in Kansas City, Missouri. The Partnership's water parks are located in Sandusky, Ohio; Kansas City, Missouri; Chula Vista, California, near San Diego; and Knott's Soak City U.S.A., the Partnership's newest addition, which opened today next to Knott's Berry Farm. Cedar Fair also operates Knott's Camp Snoopy at the Mall of America in Bloomington, Minnesota under a management contract.
The information contained in this news release, other than historical information, consists of forward-looking statements. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Partnership believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, competition for consumer spending, adverse weather conditions, unanticipated construction delays, and other factors could cause actual results to differ materially from the Partnership's expectations.
Source: Cedar Fair, L.P.