June 10, 2008
Sandusky, OH -- Cedar Fair Entertainment (NYSE: FUN) announced that attendance and revenues at its amusement parks and water parks through June 1, 2008 were relatively unchanged in comparison to the same period a year ago.
The company noted that historically results through May represent approximately 15% of Cedar Fair's full-year revenue.
"Our early-season results have been somewhat mixed across our properties," said Dick Kinzel, chairman, president and chief executive officer. "In the northern region, attendance and revenues have been soft with the exception of Canada's Wonderland near Toronto where Behemoth, a record-breaking rollercoaster, has been well received by its guests. This softness was offset by improved performances at our southern and western region parks, including Great America, which continues to attract guests with its new ride, new shows and new hours."
"We continue to see strength in our season pass sales and group business across our parks, but hotel bookings are running slightly behind last year at this time," said Kinzel. "With approximately 85% of the annual attendance and revenues at our seasonal parks still to come, it is still too early to draw any conclusions about our full-year results based on these early-season trends. However, we remain confident that our 2008 attendance and revenue goals for our properties are well within reach."
Kinzel noted that the Company will provide a mid-season update on attendance and revenue trends through the month of July in its second quarter earnings release.
Cedar Fair anticipates it will issue this release before market hours on Tuesday, August 5.
See related: Cedar Fair Entertainment
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