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November 2, 2006

Loss Could Jeopardize Future Of Conneaut Lake Park

Conneaut Lake, PA -- Conneaut Lake Park is falling further into debt after the court appointed custodian reported that the amusement park has lost $225,000 this year.

The figures come from a financial report filed Tuesday in Crawford County Prothonotary's Office.

According to the report, Conneaut Lake Park is now more than $2 million in debt. The park also will likely be short of cash again to resume operations in 2007.

Earlier this year the amusement park nearly failed to open due to a shortage of cash to start up operations. Fortunately, a last minute loan gave the park the necessary funds.

LeRoy Stearns, the court appointed custodian for Conneaut Lake Park blamed the weather for 15 to 20 percent of the loss.

The park lost $100,000 alone on Labor Day due to rain, according to Stearns.

Another $137,000 was spent on emergency repairs in the park.

Stearns is optimistic that the situation may improve. The figures in the report do not include income from the September 16 through the end of the season.

Conneaut Lake Park had hoped to make money or at least break even this year. So far total income for the park has had about $1.98 million.

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