Cedar Fair investing $50 million at Carowinds over three years

Posted Tuesday, August 27, 2013 8:32 AM | Contributed by Jason Hammond

[Ed. note: The following is an excerpt of a press release. -J]

Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced a multi-year expansion project for its Carowinds amusement park located in Charlotte, North Carolina.

"The continued growth in the Charlotte market presents a unique opportunity for our Carowinds amusement park, which we believe is ready for record-breaking attractions," said Richard Zimmerman, Cedar Fair's Chief Operating Officer. "Over the next three years we intend to make several significant investments in both the amusement and water park areas, including new rides and attractions, new and upgraded food locations, and general infrastructure improvements. We plan to expand the capacity of Carowinds in all areas to appropriately serve its market and provide our guests with a 'Best Day of Summer' experience each and every time they visit our park."

The Company, which recently opened a satellite corporate office in Charlotte, expects the expanded park will draw additional tourists to the already popular Charlotte market. It will invest more than $50 million over the next three years and expects to hire an additional 15 full-time and approximately 270 seasonal jobs to support these new investments. As with many of its capital investments across the country, the Company will look to hire local companies to help with the design and construction of this multi-year expansion.

Read the entire press release from Cedar Fair.

Read more and see video from WSOC/Charlotte.

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Wednesday, September 18, 2013 6:55 PM
sws's avatar

Tekwardo said:

and 7mill on food choices.

Man, park food has gotten expensive....

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Wednesday, September 18, 2013 6:56 PM
sirloindude's avatar

Do you mean which state would get the specific installations? If so, that's kind of funny to think about.

"Well, they wanted to throw in a cobra roll over there, but that maneuver crossed the border, so I told them they couldn't do any more than a dive loop in that corner. Don't even get me started on the proposed helix."


13 Boomerang, 9 SLC, and 8 B-TR clones

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Wednesday, September 18, 2013 8:20 PM

"In my mind I'm investing in the Carolinas..."


My author website: mgrantroberts.com

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Wednesday, September 18, 2013 8:41 PM
rollergator's avatar

Carolina - whole hog BBQ. And James Taylor...

http://www.youtube.com/watch?v=SRRiLnsKTsg

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Thursday, September 19, 2013 2:38 AM

Here's the article that Tek mentioned where it states a $30 million coaster is on the way. Also interesting to note that the tax incentives being offered apparently stole this expansion away from Kings Dominion.

Edited to add: The mention of a $30 million coaster as well as "upgrades" to ticket booths and frontage areas makes me think a Gatekeeper clone is pretty likely.

Last edited by CP Chris, Thursday, September 19, 2013 2:40 AM

And then one day you find ten years have got behind you
No one told you when to run, you missed the starting gun

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Thursday, September 19, 2013 2:59 AM
sws's avatar

Invert!

Campgrounds....

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Thursday, September 19, 2013 7:46 AM
Tekwardo's avatar

Another article just came out saying the new coaster would indeed be 300' tall. I'm excited.

http://www.charlotteobserver.com/2013/09/18/4323933/new-carowinds-r...jrjyo29LCR


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Don't cry because it's over, smile because it happened.

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Thursday, September 19, 2013 10:05 AM
HeyIsntThatRob?'s avatar

HeyIsntThatRob? said:

It's a giga! It'll take 3 years to build!

So this is what it feels like to be Gonch. Granted, its only three weeks later but I'll take it.

In all reality, I was joking. I'm surprised by this.

~Rob

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Thursday, September 19, 2013 11:40 AM
Tekwardo's avatar

I'd really like to see a 300' something else, but I'll take it.


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Thursday, September 19, 2013 11:55 AM
rollergator's avatar

I had seen something about it being Carowinds *instead of KD* - but IMO that's only sensible. Regardless of what KD gets, it's still competing with SFA and BGW....the impact of a big expansion is diluted. At Carowinds, the nearest competition is more than twice as far away (Dollywood/Family Kingdom) - that's "as the crow flies," and if you've been in the area, you know the roads aren't exactly laid out that way. I don't think of either of those parks as "direct competitors" in the sense that DW is more of a grandma/grandpa show park, and FK, well....obviously not the same market.

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Thursday, September 19, 2013 12:04 PM
Tekwardo's avatar

At this point, the only 'direct' competition is oG. The articles said that Cedar Fair were planning on putting the money in either Carowinds or Kings Dominion, but I think they just used that as a ploy to get Charlotte to approve what they wanted (and I expect KD will get a nice expansion soon enough, and I love what they've decided to focus on for next year (I hope Carowinds' next 'off' year sees them focus on theming).

Can I just say that I really like what Oimet is doing thus far?


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Thursday, September 19, 2013 12:32 PM

Tekwardo said:

I'd really like to see a 300' something else, but I'll take it.

That's wh....nah, too easy.


The amusement park rises bold and stark..kids are huddled on the beach in a mist

http://support.gktw.org/site/TR/CoastingForKids/General?px=1248054&...fr_id=1372

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Thursday, September 19, 2013 1:08 PM
bjames's avatar

Tekwardo said:

Another article just came out saying the new coaster would indeed be 300' tall.

intamin or b&m?

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Thursday, September 19, 2013 1:43 PM
Tekwardo's avatar

No mention of maker.


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Don't cry because it's over, smile because it happened.

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Thursday, September 19, 2013 1:43 PM
Raven-Phile's avatar

I believe you mean B@M.


R.I.P LeRoi Moore 9/7/61 - 8/19/2008
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Thursday, September 19, 2013 3:00 PM

I know it makes absolutely no difference to the ride experience, but it bothers me how every giga thus far has stayed below the 'magical' 310ft of MF... Why not make this bad boy 320ft? Take the tallest chain lift full circuit record... I bet that few extra feet, in the scope of cost, is minimal compared to the entire ride... Plus, cool bragging rights.


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Saturday, September 21, 2013 12:12 AM
Walk-Off HBP's avatar

SteveWoA said:

Take the tallest chain lift full circuit record...

Surely, there has to be some sort of conflict of interest clause that would preclude the marketing team contracted by Six Flags from also taking Cedar Fair as a client.


The trick was to surrender to the flow.

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Saturday, September 21, 2013 4:14 PM
ApolloAndy's avatar

I think "Tallest coaster in South West" would still go farther marketing wise than "Tallest chain lift coaster in world."


Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."

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Saturday, September 21, 2013 6:31 PM
sirloindude's avatar

It would be a bit humorous for them to break a record they already hold, but hey, Canada's Wonderland did it.


13 Boomerang, 9 SLC, and 8 B-TR clones

www.grapeadventuresphotography.com

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Sunday, September 22, 2013 12:13 AM

Found this article too:

http://m.bizjournals.com/charlotte/blog/outside_the_loop/2013/09/ch...all&r=full

Bear with me...I'm trying to figure out how to link stuff on mobile.


"Look at us spinning out in the madness of a roller coaster" - Dave Matthews Band

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