USA: Cedar Fair States Successful First Half-Year 2015

US-based Cedar Fair Entertainment Company, headquartered in Sandusky, Ohio reports record results for the first half of 2015. Until the end of June, the owner and operator of eleven amusement parks, three outdoor water parks, one indoor water park and five hotels, all located in the USA and Canada, recorded net revenues of 424 million dollars (390 million euros). Compared to the first six months in 2014 (403 million dollars respectively 371 million euros), this is an increase of 5%. According to Cedar Fair’s president and CEO, Matt Ouimet, one reason for this year’s successful first two quarters is a growth in attendance figures of 3%. Visitors were, amongst others, attracted by the opening of several new attractions, e.g. the launch of the “Fury 325” roller coaster at Carowinds (North Carolina) or the introduction of the dark ride “Voyage to the Iron Reef” at Knott’s Berry Farm (California). As the company continues to invest in its employees and its infrastructure, operating costs and expenses rose by 14 million dollars to 346 million (319 million euros). The EBITDA increased by 6%, from 79 million to 84 million dollars (73 million respectively 77 million euros). “We are pleased with the strength we have experienced across all areas of our business during the first half of this year and into July. The combination of increases in attendance, guest spending and revenues from our resort accommodation gives us confidence that our long-term strategy of enhancing the guest experience and investing in our parks is resonating with our customers,” Ouimet says. (eap)