News Cedar Fair Sold! All Parks including Cedar Point and Knott's

[sir clinksalot]

http://micechat.com/forums/news/128830-cedar-fair-sold.html#post1055709942

Is this a good or bad thing?

[sediment]

Re: Cedar Fair to be Sold?!?!?!

http://micechat.com/forums/news/1288...post1055709942

Is this a good or bad thing?

Seems like too much, if you ask me. Are the assets really worth (now or in the future) $2.3 billion (that's $700 million paid out, plus taking on the $1.6 billion debt).

Short-term shareholders won this one, I think. Long-term ones, who may have bought when the share price was in the high 20's (July 2008), might not think so.

Seems like the exact same example of a private group who thinks it knows better how to operate a chain of amusement parks.

Or, 11 parks, six water parks (most (all?) adjacent to the parks), worth, on average, $230 million each, if the purpose is to liquidate? Soak City, indeed.

(See what I did there?)

[DisneyIPresume]

Knott's Berry Farm has been sold!

More at this link:

http://m.ocregister.com/ocregister/db_12839/contentdetail.htm?contentguid=qlqSS0CV&src=cat

[PhantomBoy]

Re: Knott's Berry Farm has been sold!

:o why sell it?
I hope it will not be changed or ruined!

[Eagleman]

Re: Knott's Berry Farm has been sold!

I Bet Disney is looking at this NEWS!

[ExCandyMaker]

Re: Knott's Berry Farm has been sold!

You mean the parent company has been sold, the way the thread is titled it sounds like Cedar Fair sold just Knott's.

[DisneyIPresume]

Re: Knott's Berry Farm has been sold!

You mean the parent company has been sold, the way the thread is titled it sounds like Cedar Fair sold just Knott's.

Is that it? That's what I get for skimming the article! Still that is pretty big news!

[sir clinksalot]

Re: Cedar Fair to be Sold?!?!?!

The press release is located here:

http://micechat.com/forums/industry-press-releases/128880-cedar-fair-acquired-apollo-global-management.html#post1055711019

[sediment]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

Seems that the 2006 acquisition was a bad move.

Also, Combined Guest Per Capita Spending has increased 25% in the past 10 years. Pretty sure the ticket prices have gone up way more than that.

Cedar Fair seems to have converted from a place where lots of people go once or twice a year, to a place where a too few people go a lot more often. And, as opposed to a place like Disneyland whose popularity is spread across many generations, Cedar Fair's core demographic is mainly teens. Just not enough money there, especially when it also has a heavily discounted prepaid entrance program.

This owner should have checked out how Six Flags is barely working.

[Noski]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

Who is this Apollo company? Do they own any parks already, or are they someone who will have no clue what they're doing?

[Twist1234]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

CRAP!I live in Canada and Cedar fair bough Paramount parks recently which included Canada's Wonderland and they were gonna replace the Nick crap/good Hana Barabera for Snoopy stuff.I just hope they dont change it again(COPYRIGHTS SUCKS).

[sediment]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

Who is this Apollo company? Do they own any parks already, or are they someone who will have no clue what they're doing?

Apollo Management - Wikipedia, the free encyclopedia
How could it be inaccurate? It's Wiki!

It owns Harrah's Entertainment. Jacuzzi. Linens 'n Things (well, doesn't exist anymore). Norwegian and Oceanic and Regent Seven Seas cruise lines. Smart & Final. Etc.

Without knowing anything, I think they don't know what they're doing, but they will learn fast and try to hire people who do know what they're doing.

Cedar Fair Company has made $5 million each year for the past two years. That doesn't translate to a $2.4 billion value. This holding group has a lot of money, though, but that doesn't mean they won't claim bankruptcy for a particular company within their holdings.
Is there any synergy with the other companies? Water parks sponsored by Jacuzzi? Cruise Lines adds days at parks as part of a package?

[MissChristine]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

Wow, I'm amazed at the breadth of companies Apollo owns. Perhaps the fact that they're in charge of Harrah's could be a good sign for the theme parks. :beg:

[Eagleman]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

Wow, I'm amazed at the breadth of companies Apollo owns. Perhaps the fact that they're in charge of Harrah's could be a good sign for the theme parks. :beg:

I thinking the same line....
I know forsure Knott's been going down hill with Cedar fair !
Maybe just maybe.....there can be a turn around!
I sure HOPE so........

[Kritter]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

I wonder how this will affect haunt

[aashee]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

I wonder how this will affect haunt

Doubt it will change Haunt at all, that's their cash cow.

[Kritter]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

well maybe now original ideas instead of reused ones from other Cedar Fair Parks!

[sir clinksalot]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

I wonder how this will affect haunt

Doubt it will change Haunt at all, that's their cash cow.

I dunno, Haunt hasn't been the cash cow it was in years past over the past few years.

I think at the VERY least, this could mean even MORE corporate sponsoships coming into the parks and **shudder**the further de-theming of Ghost Town at Knotts**shudder**.

I wonder if the Knott family is regretting not selling to Disney now.

[DisneyIPresume]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

I dunno, Haunt hasn't been the cash cow it was in years past over the past few years.

I think at the VERY least, this could mean even MORE corporate sponsoships coming into the parks and **shudder**the further de-theming of Ghost Town at Knotts**shudder**.

I wonder if the Knott family is regretting not selling to Disney now.

In hindsight I think Disneybwoukd have been the best owner of the park and would have preserved things the best.

[Eagleman]

Re: Cedar Fair Sold! All Parks including Cedar Point and Knott's

I dunno, Haunt hasn't been the cash cow it was in years past over the past few years.

I think at the VERY least, this could mean even MORE corporate sponsoships coming into the parks and **shudder**the further de-theming of Ghost Town at Knotts**shudder**.

I wonder if the Knott family is regretting not selling to Disney now.

I wondering if Disney wants buy Knott's now!