July 15, 2008
Sandusky, OH -- Regional amusement park and water park operator Cedar Fair Entertainment said Monday that it's attendance and in-park revenues through the July 4th weekend were comparable to last year.
"The attendance and revenue trends we experienced through May have continued through the July 4th weekend," said Dick Kinzel, chairman, president and chief executive officer of Cedar Fair Entertainment.
"The newly acquired parks have provided us with the diversification that the Company desires in terms of both regional economics and weather patterns. We continue to see strength at Canada's Wonderland, which introduced Canada's longest, fastest and tallest roller coaster this year. Kings Dominion near Richmond Virginia, Carowinds in Charlotte, North Carolina and California's Great America in Santa Clara, California have also performed well."
"With approximately 65% of the annual attendance at our parks still to come, including the peak vacation months of July and August, we believe that our 2008 attendance and revenue goals remain within reach," Kinzel concluded.
Cedar Fair will report its 2008 second quarter results before market hours on Tuesday, August 5, 2008.
The company also announced the declaration of a regular quarterly cash distribution of 48 cents per limited-partner unit, consistent with the Company's annualized distribution rate of $1.92 per unit that was announced in March.
"Based on preliminary second quarter results and expectations for the full year, the Board of Directors determined that the Company's cash flow will be sufficient to maintain the annualized distribution rate of $1.92 per unit, which was increased in March," said Dick Kinzel, chairman, president and chief executive officer.
The distribution, which is payable August 15, 2008, to holders of record August 5, 2008, represents the company's 85th consecutive quarterly cash distribution.
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Partnership owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels.
See related: www.cedarfair.com
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