Posted Thursday, July 5, 2007 12:39 PM | Contributed by Jeff
Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that combined 2007 revenues at its parks through July 1, 2007 were $355.3 million, on 7.8 million guest visits and average in-park per capita spending of $40.44. The 2007 results include the operations of the Paramount parks which the company acquired from CBS on June 30, 2006.
On a same-park basis, total revenues through the first six months of the year were up 2%, or $3.3 million. The increase in same-park revenues is the result of a 5% increase in average in-park guest per capita spending to $39.91, offset somewhat by a 3% decrease in attendance, or approximately 108,000 visits. Out-of-park revenues on a same-park basis also experienced a 2% decrease, or less than $1.0 million, during the first half of the year. The decrease in attendance and out-of-park revenues is attributable to 16 fewer operating days due to a change in the company’s seasonal operating calendar. The decrease in out-of-park revenues is expected to be offset by a reduction in seasonal operating expenses during this same period.
Read the press release from Cedar Fair.