You could see the coaster from our hotel last year when we vacationed there. However, the park was not open during the week when we were there so I didn't get to experience it. It looks pretty cool though. Eat at Hooters and Sharkey's (I think it was the name). Panama City is a very nice beach and you will have a good time. You might want to check when the park opens (unless you will go on a weekend), because it might not be open this early during the week.
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