Cedar Fair outlines 2008 capital expenditure program

Posted Monday, November 5, 2007 3:43 PM | Contributed by Jeff

Cedar Fair Entertainment Company (NYSE: FUN), a publicly traded leader in regional amusement parks, water parks and active entertainment, has announced plans for a record high $88 million in exciting new family attractions, roller coasters, thrill rides and general improvements for the 2008 season at its parks across the United States and in Canada.

Highlights include Behemoth at Canada's Wonderland, Pony Express at Knott's Berry Farm, Sandcastle Suites rehab and new kids area at Cedar Point, plus previously announced rides.

Read the press release from Cedar Fair.

Monday, November 5, 2007 3:48 PM
Just what I was hoping for Knott's, a family/thrill ride that will finally liven up that DEAD area of the park. Good move Knott's.
Monday, November 5, 2007 3:50 PM
Mamoosh's avatar Agreed.
Monday, November 5, 2007 3:56 PM
CPLady's avatar Can I assume the new children's area that is replacing Peanuts Playground will be rides from GL as well?

And thank goodness Sandcastle is getting some work. That used to be a favorite place for us to stay, but it was looking pretty worn the last time we stayed there and that was several years ago.

Monday, November 5, 2007 4:11 PM
Amen to the Sandcastle comment. That place was threadbare in 2001.
Monday, November 5, 2007 4:15 PM
So this Pony Express ride sounds like the motorbike coaster. From what I've seen, they look pretty sweet. I've not read reviews of how they ride though. But, wow. Knott's sure has gotten a lot of new coasters recently. Silver Bullet, Sierra Sidewinder and now Pony Express. Pretty impressive.

It makes me VERY nervous that the press release said Peanuts Playground is being replaced with a "new" kids area and not just being updated. That leads me to believe Nick is really coming. I hope I'm wrong, but the vagueness of the release just makes me nervous.

Also, I'm glad CP is putting in a "family lounge with quiet areas for feeding". :)

Monday, November 5, 2007 4:36 PM
Jason Hammond's avatar ^Especialy after the incedent at Busch.
Monday, November 5, 2007 4:39 PM
I had my first ride on Sierra Sidewinder during Scary Farm. I'm not sure what they can do, but the spinning rotation really only happens in the last car. I spent the entire ride sideways through the incredibly short course, didn't spin once. I'm a wee bit concerned that Pony Express might have the same issue, as once the novelty of the sitting position is gone, will there be enough track length and elements to make it a great ride? I'm hoping for the best.

Monday, November 5, 2007 4:54 PM
Well both rides are of the family variety, so thrill seekers need not apply. I noticed with Sierra that the spins definitely depend on the weight of the cars. I had rides that ranged from non-spin to crazy.
Monday, November 5, 2007 5:19 PM
overall the chain is moving in the right direction, just don't know how they drop 88 mill in one season, with their current debt load. i am also not yet convinced that Cedar Fair's quality, clean, and safe environment can translate to their recent acquisitions.
*** This post was edited by GoldenDome 11/5/2007 5:21:54 PM ***
Monday, November 5, 2007 5:48 PM
I guess if you're into roller coasters and nothing else, that side of Ghost Town really was a dead area, but it was nice that it was quiet and away from the noise. Oh, well. Good news about the coaster anyway.

As best as I remember, as a frequent visitor for as long as they existed...the KECo/Paramount Parks were already known for quality, cleanliness, and safety. In fact, the model for the new family care center at Cedar Point is the one Paramount put into Carowinds two years ago.

PS, the mom incident was at Universal, not Busch - correct?*** This post was edited by Seahawk & the Wave 11/5/2007 5:51:01 PM ***

Monday, November 5, 2007 6:12 PM
Jason Hammond's avatar ^^I'd guess the record expenditures are more due to the fact that they have 6 more proporties rather then them spending more money just because they feel like it.

^Yeah, Universal. My bad. I've been doing that a lot lately. I need to get more sleep. :)*** This post was edited by Jason Hammond 11/5/2007 6:14:24 PM ***

Monday, November 5, 2007 6:40 PM
Jeff's avatar Yeah, the total amount is pretty much inline with "normal" cap ex, and maybe even lower. It's not something they randomly decided to do, and I'm sure much of this was planned prior to the acquisition for the old parks, and with the acquisition for the new parks. It's figured into their long-term goals to pay off the financing.
Monday, November 5, 2007 6:48 PM
Does not hurt that a good chunk is from GL. What does it say when the largest capital expenditure in MIA history is a "used" coaster? I am sure it costs money to move and rebuild but they obviously are counting some "internal" value of the coaster as part of this cap ex.

Koaster Keith

Monday, November 5, 2007 6:49 PM
absolutely, they're all good choices for the parks, all money well spent. I'm just curious to know if the costs of relocated Geuaga Lake rides are figured in as what they would have cost new - which is how it seems they're calling the $12 million for Thunderhawk at Michigan's Adventure. Did they even mention a $$ figure for Dominator in the KD announcement? I forget. Anyway, it makes me wonder, is it a plus or a minus to the investors to inflate the total, if it is inflated? On one side, the company wants to appear frugal, on the other they want it to seem these expenditures have value and are worth it. Like, it may only be costing $5 to $6 million in total to relocate Dominator, but the cost of such a ride new would be closer to $15 million, and it gives the investment more credibility, if that make sense. Calling it $5 million, if that's what it is, sounds like a cheapie, like a little throwaway fifth-rate ride rather than a quality ride from a quality manufacturer.
Monday, November 5, 2007 6:57 PM
Great news. I'm glad Sandcastle Suites is getting renovated, I can't wait t see how it looks when it's done! I also like the idea of a new children's area.
Monday, November 5, 2007 7:04 PM
^^ I wonder if it is money that will be used to pay down either debt that GL incurred over its run, or something along those lines.
Monday, November 5, 2007 7:41 PM
Did GL in fact run in the red? I thought the speculation was that it was just not meeting projections.
Monday, November 5, 2007 7:57 PM
So, is Pony Express going to be Intamin or Vekoma, or other?
Monday, November 5, 2007 8:13 PM
^IIRC vekoma is the only manufacturer of the booster bike coaster,at least that I'm aware of.

The GL relocations of Voodoo,Thunderhawk,Dominator,Firefall & the various rides relocated to CP are definitely saving the company money in the long run.I'm suprised that no mention was made of BLMR going to CP as part of the new kids area though.


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