[Ed. note: The following is an excerpt of a press release. -J]
Cedar Fair Entertainment Company (NYSE: FUN) today announced it has purchased 61 acres of land adjacent to the Company's Carowinds amusement park located in Charlotte, NC. This land acquisition will enable the Company to achieve future development and expansion of the facility.
"We are thrilled about the growth opportunities this land will provide for future development of Carowinds, as well as the increased beneficial economic impact it will have on both Mecklenburg and York counties," said Matt Ouimet, Cedar Fair's President. "We believe strongly in Carowinds' potential and its excellent opportunities for continued growth in the coming years. Since 2006, we have invested more than $45 million in new rides and attractions, which clearly demonstrates Cedar Fair's commitment to this leading park's future. This land acquisition will allow us to continue to develop this facility to its full potential."
Recognized as one of the largest regional amusement parks in the Southeast United States, Carowinds features more than 50 rides, shows and attractions, including 13 world-class roller coasters, a 20-acre water park and an on-site 55-acre campground. New for 2011 was Snoopy's Starlight Spectacular, a 3-acre night-time light and sound experience featuring Snoopy and the PEANUTS™ gang.
Read the entire press release from Cedar Fair.