Cedar Fair outlines 2013 capital expenditures

Posted | Contributed by Jeff

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

Get ready for some fun! Cedar Fair (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, has announced many new exciting rides and attractions at its properties for the 2013 operating season.

"Thrills will continue to connect families and friends in 2013 as we strive to provide every guest with an unforgettable day filled with thrills, laughter and fun," said Matt Ouimet, president and chief executive officer of Cedar Fair. "Our commitment to introducing innovative new rides and attractions makes a visit to our parks a summer tradition that is passed from generation to generation. We operate the best amusement parks in the world, and we are confident our 2013 line-up of new rides and attractions will continue to provide our guests with a 'best-day-of-the-year' experience each and every time they visit one of our parks."

The crown jewel of Cedar Fair's 2013 capital expenditure program will forever change the landscape at the "Best Amusement Park in the World," Cedar Point, in Sandusky, Ohio. Set to debut next May, GateKeeper will soar across the park's front gate with riders screaming and laughing as they experience the longest drop and longest distance of any wing roller coaster in the world. Thrill-seekers can anticipate a two-minute and 40-second action-packed ride featuring a record-breaking 164-foot drop, 4,164 feet of track and speeds of up to 67 miles per hour. This mammoth ride will feature trains with seats that extend to the side of the track, simulating the illusion of flight as riders will see nothing above or below them. The addition of GateKeeper marks the 16th coaster at Cedar Point, already home to four of the world's top-25 rated steel coasters, and further solidifies the park's position as the "Roller Coaster Capital of the World."

At California's Great America in Santa Clara, California, guests will strike gold with the 2013 introduction of GoldStriker. The Old West themed coaster will be the tallest and fastest wooden coaster in Northern California, boasting 3,197 feet of track, more than two thrilling minutes at top speeds of 54 miles per hour, a high point of 108 feet and a 103-foot-drop. With the addition of GoldStriker, guests will be injected with a pure adrenaline rush as Great America continues to provide families with the best thrills and entertainment value in the region.

Parents and children visiting Kings Dominion in Doswell, Virginia will be delighted as the park debuts an expanded Planet Snoopy in 2013. The 7-acre expansion, with 12 new and re-themed attractions, will make Planet Snoopy the world's largest PEANUTS™ themed children's area. The PEANUTS™ gang has successfully brought parents and children together through the recognizable and nostalgic nature of the characters across all of our properties. In addition to the new family rides and attractions, Planet Snoopy will also feature an 1,100-square-foot family care facility and an open air marketplace, featuring healthy, kid-friendly dining options.

Celebrating its 40th anniversary in 2013, Worlds of Fun in Kansas City, Missouri will offer more value than ever before by combining Worlds of Fun and Oceans of Fun into a single admission ticket that will provide guests with two great parks for the price of one. As part of this anniversary celebration, the park announced the largest expansion of Oceans of Fun in its history. The waterpark expansion will feature six new slides, nearly doubling the park's current slide capacity, all of which will be located on a 65-foot-tall complex overlooking the Surf City Wave Pool. In addition to the exciting new slides, guests will enjoy other slide renovations and pool areas, and new guest amenities including retail locations, cabanas and lounge chairs.

Family fun will be the focus at Knott's Berry Farm as the park enhances its Boardwalk area during the summer of 2013. The new multi-million dollar development will add a whole new look and feel to this beach-themed area. The highlight of these enhancements will have guests clinging to the handrails of Coast Rider, the ultimate family coaster experience. The new ride is filled with hairpin turns, twists and spins that are sure to excite guests of all ages. Surfside Glider, where riders control their flight above Boardwalk Bay; and Pacific Scrambler, a family favorite ride that appeals to all ages, are additional new boardwalk experiences that are sure to thrill guests.

Building off the strong reception amongst park guests, Dinosaurs Alive!, a world-class animatronic dinosaur collection showcasing the life-sized relics in an interactive exhibit, has been announced at two Cedar Fair properties for 2013: Carowinds in Charlotte, North Carolina; and Valleyfair, in Shakopee, Minnesota. Dinosaurs Alive! is an unforgettable, life-sized experience which entertains and educates guests through the sounds and movements of each specific animatronic dinosaur. The dinosaurs are designed to accurately replicate every feature of their ancient predecessors. Children of all ages will be excited as they walk through thematic scenes that tell compelling stories about each dinosaur and their primitive world.

Additional investments across Cedar Fair's collection of parks will feature numerous new shows and entertainment offerings.

Read the entire press release from Cedar Fair.