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Cedar Fair, L.P. (doing business as Cedar Fair Entertainment Company, or simply Cedar Fair) was an American amusement park company headquartered in Sandusky, Ohio, United States. Formed in 1983 via Cedar Point's acquisition of Valleyfair, it was the seventh-largest amusement park company by attendance, hosting 26.7 million guests in 2023.[2] Prior to its dissolution, Cedar Fair owned 11 amusement parks and 13 water parks; six water parks operated under the Schlitterbahn and Soak City brands.[b] Additionally, Cedar Fair had theme park licensing rights to use Peanuts intellectual properties at its parks.

Key Information

In November 2023, Cedar Fair and competitor Six Flags announced that they would merge. Both companies would dissolve and form a new entity under the Six Flags name, with former Cedar Fair stockholders obtaining a 51.2% majority stake and keeping Cedar Fair's stock ticker, FUN, for the New York Stock Exchange. The merger was completed on July 1, 2024. At the time of the merger's completion, the combined company operated 42 properties and became the largest amusement park operator in North America.

History

[edit]

The Cedar Point amusement park began as a bathing beach resort in the 1870s, and its growing popularity as a recreational destination led to the formation of Cedar Point Pleasure Resort Company in 1887. The company was founded with the purpose of expanding the resort commercially. An economic depression in the 1890s threatened the resort's future, however. A newly formed business, Cedar Point Pleasure Resort Company of Indiana led by George Arthur Boeckling, purchased Cedar Point for $256,000 in 1897. It was later reorganized as the G.A. Boeckling Company.[3]

The resort thrived under Boeckling's leadership, which lasted through 1931.[3] G.A. Boeckling Company continued to control operations at the amusement park for much of the 20th century.[3] A proposal in 1974 to build an amusement park in Cambridge Township, Michigan, was contemplated and later abandoned the following year.[4]

Then in 1978, Cedar Point acquired Valleyfair amusement park. Parent company Cedar Fair Limited Partnership, commonly known as Cedar Fair, was formed in 1983.[5] Its name was derived from both parks – "Cedar" representing Cedar Point and "Fair" representing Valleyfair.[6] The company went public on April 29, 1987.[5] Under Cedar Fair's leadership, Cedar Point grew to become one of the largest amusement parks in the world, and the company increased its portfolio by acquiring other amusement properties throughout the United States.[3]

Dick Kinzel era

[edit]

The first acquisition of the new Cedar Fair company came in 1992 when Cedar Fair bought Dorney Park from Harris Weinstein. Cedar Fair also bought Worlds of Fun from Hunt-Midwest in 1995.[7] One of the biggest acquisitions came in 1997 when Cedar Fair bought Knott's Berry Farm from the Knott family.[8][9] This marked the first time Cedar Fair operated a year-round amusement park. The acquisition included operations of the Camp Snoopy indoor park at the Mall of America in Bloomington, Minnesota, and the company would gain rights to use Peanuts intellectual properties at its parks.[10] In 2005, Cedar Fair withdrew from the lease arrangement leaving Mall of America to manage the park on its own. Mall of America formed a partnership with the Nickelodeon franchise in 2007 and continues to operate under the name Nickelodeon Universe. Several new water park properties named Knott's Soak City opened around the southern California area since the acquisition which included Buena Park in 1999, Chula Vista in 2000 and Palm Springs in 2001.[11][12] Michigan's Adventure in Muskegon, Michigan was purchased for $27.6 million in 2001.[13]

Cedar Fair opened its first indoor water park in November 2004, Castaway Bay. It was added to the former Radisson Hotel which was then renamed. The indoor waterpark resort is open year-round.[14]

Larger acquisitions followed in 2004 with Six Flags Worlds of Adventure. Cedar Fair purchased the park for $145 million, reverting its name to Geauga Lake, as it was before its Six Flags branding in 2000.[15][16] Subsequently, Cedar Fair stripped the park of all references to Looney Tunes and DC Comics characters which were licensed properties owned by Six Flags. The zoological and marine life portion of the complex (SeaWorld Ohio), which was annexed to the theme park in 2001, was also shuttered. Six Flags retained ownership of the animals.[17] The amusement park remained in Cedar Fair's portfolio through 2007,[18] and the water park continued to operate as Wildwater Kingdom through 2016.[19][20]

On May 22, 2006, Cedar Fair announced it had outbid competitors and intended to purchase all five parks in the Paramount Parks chain, including Star Trek: The Experience at the Las Vegas Hilton and the management agreement of Bonfante Gardens (now known as Gilroy Gardens). On June 30, 2006, Cedar Fair announced that it had completed its acquisition of Paramount Parks from CBS Corporation in a cash transaction valued at US$1.24 billion.[21][22] Shortly following the transfer of ownership, Cedar Fair began the process of integrating the two companies. With the purchase of the Paramount Parks, Cedar Fair LP announced that it would do business under the name Cedar Fair Entertainment Company. Cedar Fair LP remained the legal company name.[23]

WindSeeker opened at Cedar Point in 2011, and the ride was also added to other Cedar Fair parks.

The individual parks continued to operate under their Paramount names during the 2006 season, however Cedar Fair began removing the Paramount name and logo from the parks in January 2007. The names of the parks were changed back to their original pre-Paramount names (the Paramount's prefix was removed) with the Cedar Fair corporate logo added. Bonfante Gardens was changed to Gilroy Gardens. Cedar Fair began removing references to Paramount Pictures. Although the acquisition granted Cedar Fair a ten-year licensing deal for Paramount names and icons, such as Star Trek, Cedar Fair opted to terminate the agreement and not pay an annual licensing fee. All references to Paramount/CBS-licensed properties were removed before the beginning of the 2008 season.[24] This deal also included a four-year licensing deal for Nickelodeon names and icons, such as SpongeBob SquarePants and Rugrats, this agreement was retained until it expired prior to the 2010 season.

In December 2009, it was announced that Apollo Global Management would offer Cedar Fair $11.50[25][26] per share, a 28 percent premium over the market price, as part of a takeover plan which would also make Cedar Fair a private company.[27] The deal included a cash payment of $635 million in addition to assuming Cedar Fair's debt of over US$1.7 billion putting the total value of the transaction close to US$2.4 billion. Cedar Fair planned to hold a shareholder meeting on March 16, 2010, to vote on the transaction but postponed the meeting to April 8, 2010, implying that two-thirds of the shareholder vote needed for approval wasn't yet secured.[28] On April 6, 2010, the deal was terminated, and Cedar Fair paid $6.5 million to reimburse Apollo for expenses incurred from the proposed transaction.[26][29] Cedar Fair also adopted a unitholder rights plan as a preventative measure to help protect unitholders in the event of any future hostile takeover.[30]

On September 16, 2011, JMA Ventures, LLC entered into an agreement to purchase California's Great America from Cedar Fair and take ownership of the Gilroy Gardens management contract.[31][32] The agreement required approval of Santa Clara's city council which was scheduled to vote on the matter on December 6, 2011. However, JMA canceled its plans to purchase Great America and bowed out of the agreement.[33][34]

Matt Ouimet era

[edit]

On June 20, 2011, Cedar Fair announced that long term CEO Dick Kinzel would retire on January 3, 2012, and that Matt Ouimet would take his spot as the CEO of Cedar Fair.[35][36] Ouimet had been employed by The Walt Disney Company for 17 years, including serving as president of Disney Cruise Line and president of the Disneyland Resort. He officially became CEO on January 3.[36] Cedar Fair launched new websites for their parks in 2012 as well as a new marketing campaign, Thrills Connect.

On November 20, 2012, Cedar Fair announced it had sold its Knott's Soak City: San Diego location to SeaWorld Parks & Entertainment.[37] About nine months later, Cedar Fair announced it had sold its Knott's Soak City: Palm Springs location to CNL Lifestyle Properties.[38] Cedar Fair's portfolio, according to an SEC report filed in 2013, contained eleven amusement parks, four outdoor water parks, one indoor water park, and five hotels.[39]

On September 5, 2016, Cedar Fair closed Wildwater Kingdom, the last operating part of the former Geauga Lake & Wildwater Kingdom. A portion of the land that once contained both properties has since been redeveloped.

Richard Zimmerman era

[edit]

On October 4, 2017, Cedar Fair announced that Ouimet would step down as CEO and be succeeded by COO Richard Zimmerman on January 1, 2018. Ouimet would remain with the company, taking the newly created position of executive chairman of the board of directors.[40]

On March 27, 2019, Cedar Fair announced it was purchasing the land occupied by California's Great America from the City of Santa Clara.[41] The 112 acres beneath the park cost $150 million. Cedar Fair had been previously leasing the land from the County of Santa Clara for 6 to 7 million per year.[42]

In April 2019, Cedar Fair announced a partnership with Feld Entertainment to bring a Monster Jam Thunder Alley Area to select Cedar Fair parks.[43]

On June 13, 2019, it was announced that Cedar Fair had signed a $261 million deal with Schlitterbahn Waterparks and Resorts to buy their Galveston and New Braunfels locations, with the option to buy Schlitterbahn Kansas City for an additional $6 million,[44] and the rights to the Schlitterbahn name.[45]

On July 2, 2019, it was announced that Cedar Fair had acquired the Sawmill Creek Resort in Huron, Ohio.[46] The property cost $13.5 million.[47]

In October 2019, Six Flags offered to buy Cedar Fair for $4 billion, however the offer was turned down.[48][49]

On July 29, 2021, Cedar Fair announced the submission of plans to the City of Sandusky to build a $28 million esports arena expansion of the Cedar Fair Sports Center. Targeted opening in the first half of 2023 [50][51]

On December 31, 2021, the contract to manage Gilroy Gardens expired. Both Gilroy Gardens Inc., the nonprofit that owns the park, and Cedar Fair agreed not to renew the contract.[52]

On February 1, 2022, news broke that SeaWorld Entertainment made an unsolicited all-cash bid to buy Cedar Fair for $3.4 billion.[53] Exactly two weeks later, on February 15, 2022, United Parks & Resorts issued a statement that the offer had been rejected.[54]

In June 2022, the company announced that it was selling the land occupied by California's Great America to Prologis, a real estate development company, for $310 million.[55] Cedar Fair signed an 11-year lease from the buyer and intends to close the park at the conclusion of the lease.[55]

Merger with Six Flags

[edit]
Main article: Merger of Cedar Fair and Six Flags
The logo of the newly formed company, Six Flags, after the merger's completion on July 1, 2024.

On November 2, 2023, Cedar Fair announced plans to merge with Six Flags, forming a new company and retaining the Six Flags name.[56] Described as a "merger of equals", former Cedar Fair management will remain in control of the new company, which will be headquartered in Charlotte, North Carolina, a site once occupied by Paramount Parks before being acquired by Cedar Fair in 2006.[56] Some financial and administrative operations will continue to reside in Sandusky, Ohio.[56][57] The combined company was projected to have 27 amusement parks, 15 water parks, and 9 resort properties in its portfolio and would operate under the Six Flags name with plans to use Cedar Fair's stock exchange ticker symbol, FUN.[57] President and CEO of Cedar Fair, Richard Zimmerman, will serve as President and CEO of the new combined company, while Selim Bassoul, President and CEO of Six Flags, would become the executive chairman of the company's board of directors.[56] On July 1, 2024, the merger was successfully completed.[58]

Properties

[edit]
Map
About OpenStreetMaps
Maps: terms of use
1000km
621miles
Schlitterbahn New Braunfels
Schlitterbahn New Braunfels
Schlitterbahn Galveston
Schlitterbahn Galveston
Canada's Wonderland
Canada's Wonderland
Valleyfair
Valleyfair
California's Great America
California's Great America
Kings Dominion
Kings Dominion
Worlds of Fun
Worlds of Fun
Carowinds
Carowinds
Kings Island
Kings Island
Michigan's Adventure
Michigan's Adventure
Knott's Berry Farm and Knott's Soak City
Knott's Berry Farm and Knott's Soak City
Dorney Park
Dorney Park
Cedar Point and Cedar Point Shores
Cedar Point and Cedar Point Shores
Interactive map of all Cedar Fair parks.

At the time of its dissolution on July 1, 2024, Cedar Fair consisted of 15 properties: 11 amusement parks and 4 separately-gated water parks, all of which were fully owned.[c]

United States
International

Amusement parks

[edit]
Name Location Year opened Year acquired Notes
California's Great America Santa Clara, California 1976 2006 Open seasonally. Acquired in Paramount Parks deal.
Canada's Wonderland Vaughan, Ontario, Canada 1981 2006 Cedar Fair's most visited seasonal park, acquired in Paramount Parks deal.
Carowinds Charlotte, North Carolina 1973 2006 Acquired in Paramount Parks deal. A portion of the park is in Fort Mill, South Carolina.
Cedar Point Sandusky, Ohio 1870 N/a Cedar Fair's flagship park and the oldest park in the chain. Cedar Fair's corporate headquarters were at this park.
Dorney Park Allentown, Pennsylvania 1884 1992 First park acquired under the Cedar Fair name, acquired from Harris Weinstein. Purchase price $48M[59]
Kings Dominion Doswell, Virginia 1975 2006 Acquired in Paramount Parks deal.
Kings Island Mason, Ohio 1972 2006 Acquired in Paramount Parks deal.
Knott's Berry Farm Buena Park, California 1920 1997 Acquired from Knott Family in 1997, the park is open year-round and is the most-visited Cedar Fair park.[60]
Michigan's Adventure Muskegon, Michigan 1956 2001 Acquired from the Jourden family. Purchase price $28M[61]
Valleyfair Shakopee, Minnesota 1976 1978 Acquired by Cedar Point. Cedar Point and Valleyfair then formed Cedar Fair in 1987.
Worlds of Fun Kansas City, Missouri 1973 1995 Acquired from Hunt-Midwest. Purchase price $40M[62]

Water parks

[edit]

Located within amusement parks

[edit]
Water park Location Associated park Year opened Year acquired Notes
Carolina Harbor Charlotte, North Carolina Carowinds 1982 2006 Located within Carowinds, acquired in Paramount Parks deal.
Oceans of Fun Kansas City, Missouri Worlds of Fun 1982 1995 Located adjacent to Worlds of Fun. In 2013, the water park became included with admission to Worlds of Fun.[63]
Soak City Doswell, Virginia Kings Dominion 1992 2006 Located within Kings Dominion, acquired in Paramount Parks deal.
Soak City Mason, Ohio Kings Island 1989 2006 Located within Kings Island, acquired in Paramount Parks deal.
Soak City Shakopee, Minnesota Valleyfair 1983 Located within Valleyfair.
South Bay Shores Santa Clara, California California's Great America 2004 2006 Located within California's Great America, acquired in Paramount Parks deal.
Splash Works Vaughan, Ontario Canada's Wonderland 1992 2006 Located within Canada's Wonderland, acquired in Paramount Parks deal.
WildWater Adventure Muskegon, Michigan Michigan's Adventure 1991 2001 Located within Michigan's Adventure.
Wildwater Kingdom Allentown, Pennsylvania Dorney Park 1985 1992 Located within Dorney Park.

Separate admission or property

[edit]
Name Location Year opened Year acquired Notes
Cedar Point Shores Sandusky, Ohio 1988 N/a Located adjacent to Cedar Point.
Knott's Soak City Buena Park, California 2000 N/a Located adjacent to Knott's Berry Farm.
Schlitterbahn Galveston Galveston, Texas 2006 2019 Acquired in 2019 from the Henry family.
Schlitterbahn New Braunfels New Braunfels, Texas 1979 2019 Acquired in 2019 from the Henry family.

Lodging

[edit]
Name Location Type Year opened Year acquired Associated park
Carowinds Camp Wilderness Charlotte, North Carolina RV camping 1985 2006 Carowinds
Castaway Bay Sandusky, Ohio Resort/water park 1989 1996 Cedar Point
Cedar Point's Express Hotel Sandusky, Ohio Hotel 2000 N/a Cedar Point
Hotel Breakers Sandusky, Ohio Hotel 1905 N/a Cedar Point
Kings Dominion KOA Doswell, Virginia RV camping 1978 2006 Kings Dominion
Knott's Hotel Buena Park, California Hotel 1968 1998 Knott's Berry Farm
Lighthouse Point Sandusky, Ohio Campground 2001 N/a Cedar Point
Sawmill Creek Huron, Ohio Golf resort 1972 2019 Cedar Point
SpringHill Suites Charlotte Charlotte, North Carolina Hotel 2019 N/a Carowinds
The Resorts at Schlitterbahn New Braunfels, Texas Varied 1979 2019 Schlitterbahn New Braunfels
Worlds of Fun Village Kansas City, Missouri Campground 2005 N/a Worlds of Fun

Other properties

[edit]
Name Location Year opened Notes
Cedar Point Sports Center Sandusky, Ohio 2020 Located as part of the Cedar Point complex. Land owned by Cedar Fair, operated by Sports Facilities Management.[64]
Sports Force Parks Sandusky, Ohio 2017 Part of the Cedar Point Sports Center complex. Land owned by Cedar Fair, operated by Ripken Baseball.[65]

Former

[edit]

The following former properties refer to properties that were closed or sold by Cedar Fair before the merger's completion on July 1, 2024.

Name Location Year opened or acquired Year closed or sold Notes
Geauga Lake Aurora, Ohio 2004 2007 Purchased from Six Flags in 2004 for $145 million. Closed ride side in 2007, the water park, Wildwater Kingdom, closed on September 5, 2016.
Gilroy Gardens Gilroy, California 2006 2021 Acquired in Paramount Parks deal, formerly managed by Cedar Fair until December 2021.
Knott's Camp Snoopy Mall of America 1992 2005 In 2005, closed for renovation. MOA and Cedar Fair dissolved their agreement in 2006. Now operates as Nickelodeon Universe.
Knott's Soak City: Palm Springs Palm Springs, California 2001 2013 Opened under the name, Oasis Water Park. Sold to CNL Lifestyle Properties.[38]
Knott's Soak City: San Diego Chula Vista, California 2000 2012 Opened under the name, White Water Canyon. Sold to SeaWorld Parks & Entertainment, who would later turn it into a Sesame Place.[37]
Star Trek: The Experience Las Vegas, Nevada 2006 2008 Acquired in Paramount Parks deal. Closed in 2008, Cedar Fair lost rights to reopen the attraction from CBS Studios in 2010.
Wildwater Kingdom Aurora, Ohio 2005 2016 Located on former SeaWorld Ohio site.

Leadership

[edit]

Final leadership as listed in Cedar Fair's Form 10-K as of fiscal year ended December 31, 2023.[1]

Board of directors

[edit]
  • Daniel J. Hanrahan – board chairman
  • Nina Barton
  • Louis Carr
  • Michelle McKinney Frymire
  • Jennifer Mason
  • D. Scott Olivet
  • Carlos A. Ruisanchez
  • Richard A. Zimmerman

Executives

[edit]

Fast Lane

[edit]
Main article: Fast Lane (Six Flags)

Fast Lane is an expedited queue system in use at parks formerly associated with Cedar Fair. It was first announced for Kings Island on July 18, 2011.[66] The park served as the testing park for the system. For an increased cost, visitors get a wrist band which gives them the ability to wait in a shorter queue for most attractions. Originally, it could only be used from noon to 7:00 PM, but it was soon expanded to be available all day. Fast Lane would be rolled out to all Cedar Fair parks for the 2012 season.[67] There is also Fright Lane, which is Fast Lane for the haunted attractions during the Halloween events.[68] For the 2016 season, Cedar Fair began testing all season Fast Lane at Valleyfair and Dorney Park. By the 2019 season, all parks offered all season Fast Lane.

See also

[edit]

Notes

[edit]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Cedar Fair

View on Grokipedia
from Grokipedia
Cedar Fair Entertainment Company was a publicly traded American regional operator that owned and operated eleven s, eleven outdoor water parks, and one across the and until its merger with Entertainment Corporation on July 1, 2024. The company, originally formed as a , was founded in 1983 following the 1978 acquisition of by , Inc., combining elements of both park names to create "Cedar Fair," and went public in 1987 under the ticker symbol FUN on the . Prior to the merger, Cedar Fair's portfolio included flagship properties such as Cedar Point in —its original and largest park, which opened in 1870 and features 18 roller coasters, one of the highest numbers worldwide—as of 2025—as well as Kings Island near , Ohio; Canada's Wonderland in Vaughan, Ontario; Carowinds on the North Carolina-South Carolina border; Kings Dominion in ; Dorney Park in ; Valleyfair in ; Worlds of Fun in Kansas City, Missouri; Knott's Berry Farm in Buena Park, ; California's Great America in Santa Clara, ; and Michigan's Adventure in Muskegon, Michigan. The company also managed Gilroy Gardens in and operated standalone water parks like Soak City at several locations, emphasizing family-oriented entertainment, thrill rides, and seasonal events that attracted over 25 million visitors annually in its later years. Headquartered in , with additional administrative functions in , Cedar Fair focused on regional markets to minimize travel distances for guests while investing heavily in new attractions, including record-breaking roller coasters like at Cedar Point and at Canada's Wonderland. The 2024 merger with , valued at approximately $8 billion and structured as an all-stock transaction of equals, combined the two companies' assets to form Six Flags Entertainment Corporation, operating 42 parks across under the unified Six Flags brand and FUN, with Richard A. Zimmerman serving as president and CEO and headquarters in . This union enhanced operational efficiencies, expanded guest pass options like the All Park Passport for access to all properties, and positioned the entity as the dominant force in the amusement industry, generating enhanced free cash flow for future investments in rides and experiences.

History

Founding and early years

Cedar Point, the foundational asset of what would become Cedar Fair, opened in 1870 as a modest bathing beach and picnic ground on a peninsula in near . By the mid-20th century, it had evolved into a major under the ownership of Cedar Point Inc., which focused on developing it as a regional destination. In 1976, the park introduced the Corkscrew roller coaster, the first to feature inversions over the midway, which drew record attendance and underscored Cedar Point's commitment to innovative thrill attractions. The company's early expansion occurred in 1978 when Cedar Point Inc. acquired , a newly opened family in , spanning 48 acres with roller coasters and midway games. This purchase represented the first step beyond , enabling shared operational expertise and broader Midwest market penetration while maintaining a focus on regional growth. The acquisition set the stage for the formation of Cedar Fair in 1983 to oversee both properties. From its inception through the late 1970s, Cedar Point Inc.'s emphasized family-friendly regional amusement parks centered on roller coasters, classic rides, and carnival-style midway entertainment to attract day visitors and short-trip families. The strategy avoided dedicated water parks or overseas operations, prioritizing high-quality, seasonally operated venues that reinvested revenues into ride enhancements for repeat visitation. An important early financial development was Cedar Fair's initial public offering in 1987 on the New York Stock Exchange under the ticker "FUN," structured as a master limited partnership. The IPO provided essential capital to retire from prior investments and acquisitions, supporting ongoing park improvements without diluting operational control. This transition paved the way for leadership under Dick Kinzel, who joined the company in 1972 and became general manager of in 1978, later ascending to president and CEO in 1986.

Dick Kinzel era (1978–2011)

Richard Kinzel joined Cedar Fair in 1972 as an employee at and rose through the ranks, becoming general manager of in 1978 before ascending to president and CEO in 1986. Under his leadership, Cedar Fair pursued an aggressive expansion strategy focused on acquiring established family-owned regional amusement parks to broaden its footprint across the . This approach began with the $48 million purchase of Dorney Park and Wildwater Kingdom in in 1992, marking the company's first major acquisition and adding a key East Coast property to its portfolio. Subsequent deals included the $40 million acquisition of and in , from Mid-America Enterprises in 1995, which strengthened Cedar Fair's presence in the Midwest, and the $245 million purchase of California's from the Knott family in 1997, a landmark transaction that brought a historic, high-attendance park into the fold and nearly doubled the company's size. Kinzel's era emphasized significant capital investments in park enhancements to drive attendance and guest satisfaction, particularly through the development of world-class roller coasters. A prime example was the 2000 debut of Millennium Force at Cedar Point, a record-breaking Intamin giga coaster standing 310 feet tall and reaching speeds of 93 mph, which cost $25 million and became a flagship attraction that boosted the park's national profile and helped establish Cedar Point as the "Roller Coaster Capital of the World." Similar upgrades were rolled out at acquired properties, such as major coaster additions at Dorney Park, Worlds of Fun, and Knott's Berry Farm, alongside improvements to rides, theming, and amenities to enhance regional appeal and increase per-capita spending. These initiatives contributed to steady attendance growth, with Cedar Fair's parks collectively drawing millions more visitors annually by the early 2000s compared to the pre-acquisition period. Financially, Kinzel's tenure saw robust revenue expansion, transforming Cedar Fair from a modest two-park operator generating around $100 million in annual revenue at the start of his CEO role into a major industry player with net revenues exceeding $977 million by 2010, largely fueled by acquisition synergies and higher attendance. The company navigated key financial maneuvers, including the $1.24 billion acquisition of five in 2006, which integrated properties like and but also increased debt levels. To manage this, Cedar Fair pursued refinancings in the late 2000s, though earlier expansions in the 1990s relied on strategic partnerships and internal cash flows for stability. However, the 2008 global recession posed significant challenges, leading to a roughly 7% attendance drop to 21.1 million visitors in 2009 from 22.7 million the prior year, as economic pressures reduced and prompted discounting measures that squeezed per-guest revenues by about 2%. Despite these headwinds, Kinzel's focus on operational efficiencies and targeted investments helped Cedar Fair weather the downturn and maintain its competitive edge in the regional amusement sector.

Matt Ouimet era (2011–2021)

Matthew Ouimet, who had a distinguished career at including roles as President and of Disney Stores Worldwide and President of , was named president of Cedar Fair in June 2011 amid efforts to recover from the 2008-2009 that had strained the amusement park industry's attendance and revenues. He assumed the CEO position on January 3, 2012, bringing expertise in guest-centric operations to guide the company through financial stabilization and growth. Ouimet's leadership marked a shift toward operational efficiency and enhanced visitor satisfaction, building on the expansion foundation established in prior years. Central to Ouimet's tenure was the "FUNforward" strategy launched in , which placed an "all in" emphasis on elevating the guest experience via targeted investments in food and beverage quality, retail enhancements, and digital technologies to boost and spending. This approach prioritized high-return capital allocation and cost controls to foster sustainable profitability. Key initiatives under this framework included the 2015 debut of mobile apps for park navigation and real-time information, initially at and later rolled out company-wide to streamline guest planning and access. Complementing this, the expansion of season pass offerings—through flexible payment plans and loyalty perks—drove repeat visits, culminating in a record 27.9 million attendees in , an 8% increase from the prior year. Financial recovery accelerated through disciplined spending, with capital expenditures moderated from $130.4 million in 2011 to stabilized levels around $120 million by 2015, enabling redirected funds toward guest-facing improvements and debt reduction. This efficiency contributed to adjusted EBITDA margins expanding from 26% in 2011 ($375 million on $1.4 billion in revenues) to 35% in 2015 ($459 million on $1.3 billion in revenues), reflecting stronger operational leverage and spending growth. The era faced a profound challenge from the , with all Cedar Fair parks closing in March 2020 and remaining shuttered until mid-June in most locations, leading to a $1.5 billion revenue shortfall from 2019 levels and an operating loss of $572 million for the year due to near-zero attendance early in the season. Phased reopenings began in mid-2020 under enhanced health protocols, including reduced capacity, mandatory masking, temperature screenings, and expanded features for contactless interactions, allowing gradual recovery while prioritizing safety. Ouimet's vision of guest-focused innovation continued to influence these adaptations until his transition out of the CEO role in 2018.

Richard Zimmerman era (2021–2024) and merger with

Richard Zimmerman assumed the role of president and chief executive officer of Cedar Fair on January 1, 2018, succeeding Matthew Ouimet, who transitioned to executive chairman. With over 30 years in the hospitality and entertainment industry, including prior roles as Cedar Fair's president and since 2016, Zimmerman focused on operational efficiency and guest experience enhancements during his tenure. Under his leadership, Cedar Fair published its inaugural environmental, social, and governance (ESG) strategy report in 2023, emphasizing sustainable practices such as waste reduction and energy efficiency across its properties. On November 2, 2023, Cedar Fair and Entertainment Corporation announced a merger of equals, with a enterprise value of approximately $8 billion, aimed at forming the largest regional operator in with a combined portfolio of 27 amusement parks, 15 water parks, and nine resort properties. The transaction structure provided Cedar Fair unitholders with one share of the combined company's per unit, while Six Flags shareholders received 0.58 shares per share, resulting in Cedar Fair unitholders owning about 50.1% of the new entity. The merger closed on July 1, 2024, with the combined company operating as Entertainment Corporation and trading under the NYSE ticker "." Zimmerman served as president and CEO of the merged entity, with Six Flags' former CEO Selim Bassoul as executive chairman; a planned transition was outlined, with Zimmerman to remain in the role until a successor was appointed by the end of 2025. In 2025, following the merger, conducted a comprehensive portfolio review, identifying opportunities for divestitures of underperforming or overlapping assets to streamline operations and reduce debt. This included considerations for selling parks like Dorney Park in , amid analyst warnings of potential restructuring. The company's third-quarter 2025 results reflected integration challenges, with revenue declining 2% year-over-year to $1.32 billion, attendance up 1% to 21.1 million guests, but spending down 4% due to softer demand and merger-related costs.

Corporate affairs

Leadership and governance

Cedar Fair's leadership has evolved through several key chief executives who guided the company's growth in the amusement industry. Dick Kinzel served as president and CEO from 1986 until his retirement in 2011, during which he expanded the company's portfolio of parks and emphasized guest experience innovations. He was succeeded by Matt Ouimet, a former executive at , who assumed the role of president in 2011 and CEO in 2012, serving until 2017 and focusing on strategic enhancements to operations and guest services. Richard A. Zimmerman, who joined Cedar Fair in 1998 and rose through operational roles, became president and CEO in January 2018, leading the company through its merger with Entertainment Corporation in July 2024; post-merger, he transitioned to CEO of the combined entity while planning to step down by the end of 2025, with a successor search ongoing. Prior to the merger, Cedar Fair's comprised approximately 11 members, including industry veterans with expertise in and related sectors, such as former leader Matt Ouimet, who served on the board from 2008 until his departure in 2023. Following the merger, the combined company's board initially consisted of 12 members, with six directors from each predecessor organization plus an executive chairman; it later expanded to 13 members in October 2025, with plans to reduce to 11 following recent departures. In terms of governance practices, Cedar Fair adopted its first comprehensive ESG strategy in 2022 under the "Better FUN Builds a Better World" framework, which includes a pillar dedicated to operations and encompassing ethical standards and sustainability oversight. This initiative aligned with broader corporate policies on and compliance, though specific diversity targets and measures were integrated into standard board oversight without publicly detailed quotas. Kinzel's extended influence post-retirement, including board service until 2013, helped foster a culture rooted in long-term of park operations.

Financial performance

Cedar Fair's revenue has shown substantial growth over its history, reflecting expansion through acquisitions and operational improvements. In the early 1980s, shortly after its formation, the company generated approximately $64 million in annual revenues. By , net revenues had increased to $978 million, driven by growth and higher per capita spending despite economic challenges. In 2023, net revenues reached a record $1.80 billion, supported by 26.7 million guests across its properties, though slightly down from $1.82 billion in 2022 due to softer demand in certain markets. The company's revenue streams are diversified, with admissions contributing the largest share at around 60%, followed by , merchandise, and at approximately 25%, and accommodations and other out-of-park revenues at 15%. This breakdown underscores Cedar Fair's reliance on in-park spending, where per capita expenditures on and retail have grown steadily, enhancing overall profitability. In 2023, out-of-park revenues hit a record $223 million, up 5% from the prior year, bolstered by operations and pass sales. Profitability metrics have also improved markedly. Adjusted EBITDA stood at approximately $205 million in 2010, amid recovery from the global . By 2023, it reached $528 million, reflecting operational efficiencies and revenue growth, though down slightly from $552 million in 2022 due to higher operating costs. Debt management has been a key focus; levels peaked near $2 billion following the 2006 acquisition of and the 2008 financial downturn, with long-term debt at $1.72 billion by year-end 2008. Through and generation, net debt was reduced to about $1.2 billion by 2023, improving the leverage ratio to around 4.0x EBITDA. The 2024 merger with Entertainment Corporation created a combined entity valued at $8 billion, integrating complementary portfolios to drive scale. The transaction is projected to yield $200 million in annual synergies by , including $120 million in cost savings from and overhead reductions and $80 million in incremental EBITDA from enhancements like cross-promotions. Post-merger, the combined company's total debt stood at approximately $5.0 billion as of September 2025, necessitating careful integration to maintain financial health. In 2025, the merged entity reported Q3 net revenues of $1.32 billion, a 2% decline year-over-year, attributed to integration challenges and softer attendance amid economic pressures. Net loss totaled $1.2 billion, primarily due to a $1.5 billion non-cash impairment charge on goodwill and other intangibles, though adjusted EBITDA remained stable at $555 million. These results highlight ongoing efforts to realize synergies while navigating elevated service amid fluctuating .

Properties and operations

Amusement parks

Cedar Fair's amusement parks form the core of its entertainment portfolio, offering a diverse array of roller coasters, thrill rides, and family attractions across . Following the 2024 merger with Entertainment Corporation, the combined entity operates 26 amusement parks, with Cedar Fair's legacy properties retaining their distinct branding and character licensing, such as Peanuts-themed areas. These parks emphasize high-thrill experiences, with a focus on innovative roller coasters and seasonal events to drive visitor engagement. The flagship property, in , is renowned as the "Roller Coaster Capital of the World," featuring 19 roller coasters, including the hybrid , which holds records for its 205-foot drop and 74 mph speed. In 2025, introduced Siren's Curse, the tallest, longest, and fastest tilt coaster in , reaching speeds of up to 58 mph on a 160-foot structure themed around sirens. Other prominent parks include in , which celebrates its heritage with attractions like the inverted HangTime coaster and the wooden GhostRider, blending historic charm with modern thrills across five themed areas. in , , stands as the largest in Canada, boasting over 200 attractions, including the , which launches riders to 148 km/h from a 93-meter . Additional key locations encompass in , home to the legendary wooden coaster The Beast with its 7,361-foot track and over four-minute ride duration; in ; and on the North Carolina-South Carolina border, each offering signature coasters like Orion and , respectively. Pre-merger attendance across Cedar Fair's amusement parks reached approximately 25 million visitors annually in 2023, establishing significant scale in the industry, with post-merger integration enabling shared All Park Passport access while preserving individual park identities and perks like meet-and-greets. Recent developments in 2025 highlight ongoing investment, such as the debut of AlpenFury at Canada's Wonderland, Canada's longest, tallest, and fastest launch coaster, spanning 1,000 meters with multiple launches up to 115 km/h. At Kings Island, while no new dry roller coaster was added, the park continues to leverage its collection of 14 coasters for high attendance, ranking among the top U.S. parks outside Florida and California. California's Great America in Santa Clara faces potential divestiture due to its proximity to other merged properties, with operations slated to continue through the 2027 season before a planned closure amid the company's portfolio review. The Fast Lane virtual queue program enhances ride access at these parks, reducing wait times for premium passholders. Cedar Fair's amusement parks operate seasonally from May to October, capitalizing on peak summer visitation, with select extensions for off-season events like Halloween Haunt, which transforms parks into immersive horror experiences with haunted mazes, scare zones, and nighttime ride operations from September through early November. This model supports year-round revenue through pass sales and events, while maintaining a focus on safety and guest experience across all locations.

Water parks

Cedar Fair operates a portfolio of outdoor and indoor water parks, many of which are co-located with its parks to offer combined ticket options for guests seeking diverse experiences. The company's outdoor water parks emphasize seasonal aquatic attractions, including high-speed slides, s, and s designed for family recreation. A prominent example is in , which features more than 20 water slides, such as the six-story Point Plummet drop slides and the 76-foot-tall tube slide, alongside a large and interactive children's areas like Lakeslide Landing. Another key facility is in , renowned for its 750,000-gallon Tidal Wave Bay that generates four-foot waves, complemented by 23 slides including body, tube, and speed varieties, as well as a 1,780-foot . Across its sites, these outdoor parks collectively accommodate approximately 50,000 visitors daily during peak season, providing scalable capacity for regional summer crowds. In addition to outdoor offerings, Cedar Fair maintains indoor water parks for year-round access, insulated from weather variability. The flagship is Castaway Bay in Sandusky, Ohio, a 38,000-square-foot tropical-themed facility heated to 82 degrees , featuring a 100,000-gallon , 10 water slides including a multi-story water coaster, and family-friendly elements like a sprayground and arcade. This indoor venue supports extended stays, often bundled with nearby resort accommodations. Cedar Fair's water park portfolio has expanded significantly over the years, growing from five outdoor facilities around 2000 to 11 by 2006, with further additions reaching 12 operational sites by 2023 through targeted investments in co-located expansions. Water park revenues have contributed meaningfully to overall operations, accounting for about 15% of total income by the early , with growth accelerated by the introduction of all-season passes following the 2020 pandemic that encouraged multi-park visitation. Following the 2024 merger with Entertainment Corporation, Cedar Fair's water parks have integrated into a broader network, incorporating elements of the Hurricane Harbor brand for enhanced cross-promotions and upgrades. In 2025, this includes new additions at , such as two multi-colored twisted tube slides replacing older attractions, and planned enhancements like an expanded at adjacent to in , to boost guest flow and thematic consistency.

Former properties

Cedar Fair has divested several properties over the years to streamline its portfolio, reduce operational overlap, and optimize finances amid declining attendance at underperforming assets. One prominent example is in Aurora, , which the company acquired from in 2004 for $145 million. In September 2007, Cedar Fair announced the permanent closure of the amusement park portion following the season, citing low attendance and its proximity to the flagship park, which created market overlap and cannibalized visitors. The water park component, rebranded as Wildwater Kingdom, continued operations until its closure on September 5, 2016, as part of broader efforts to consolidate offerings and focus resources on higher-performing locations. These closures facilitated financial optimization by eliminating ongoing maintenance costs for aging infrastructure and redundant facilities. In 2020, Cedar Fair sold the 377-acre former property to Industrial Commercial Properties LLC for redevelopment into mixed-use commercial and residential space, further divesting non-core to bolster liquidity. Similarly, in August 2009, the company sold 87 acres of surplus land adjacent to to the Health Campus Corporation, netting approximately $54 million after expenses, which was applied directly to debt reduction during a period of economic pressure. The divestitures had notable impacts on Cedar Fair's operations, enabling a sharper focus on marquee properties with stronger attendance draws. The Geauga Lake closures, for instance, redirected regional visitors toward , contributing to stabilized and improved performance at the Sandusky flagship by reducing competitive dilution in the market. Overall, these moves streamlined the company's footprint, cutting redundant expenses and allowing investment in enhancements at core parks, which supported long-term attendance growth and operational efficiency. Following the 2024 merger with , which formed , the combined entity accelerated portfolio reviews in 2025 to address elevated debt levels exceeding $5 billion. Company executives identified divestitures of underperforming or legacy parks as a priority, aiming to generate substantial proceeds to pay down obligations and enhance financial flexibility without disrupting high-value assets. In November 2025, in , permanently closed after the 2025 season as part of ongoing portfolio optimization. This strategy builds on Cedar Fair's historical approach to overlap reductions and asset optimization, positioning the merged operator for sustained growth amid post-pandemic recovery challenges.

Programs and innovations

Fast Lane

Fast Lane is a virtual queuing system introduced by Cedar Fair in 2011 as a pilot at , allowing guests to purchase wristbands for expedited access to select popular rides and attractions, thereby skipping the standard lines. It was rolled out to and all other Cedar Fair amusement parks starting in the 2012 season, marking a major innovation in guest convenience at the company's properties. The system provides shorter queues on high-demand roller coasters and thrill rides, with pricing structured as an add-on to general admission tickets, typically ranging from $99 to $199 per person per day as of 2025, depending on the type (Fast Lane or Plus), park, date, and demand levels. In 2013, Cedar Fair expanded the offering with Fast Lane Plus at select parks, which includes access to an even broader selection of attractions for a higher fee, enhancing the system's appeal on busier days. By the mid-2010s, Fast Lane had become available across all 11 of Cedar Fair's legacy amusement parks, helping to manage peak crowds and improve throughput. The program has been praised for significantly reducing average wait times for participating guests, though effectiveness varies by ride and attendance. In 2024, Cedar Fair introduced single-use Fast Lane passes at select parks, allowing guests to purchase one-time priority access to individual high-demand rides for added convenience. Fast Lane has evolved into a key revenue driver for Cedar Fair, contributing significantly to in-park per capita spending through upcharge products, with strong performance noted in financial reports as part of overall guest spending on premium experiences. Usage can reach significant levels on high-attendance days, supporting operational efficiency without requiring major infrastructure changes. Following the 2024 merger with Entertainment, Fast Lane remains the primary queuing system at legacy Cedar Fair parks through 2025, with plans to integrate and replace Six Flags' Flash Pass across all combined properties starting in 2026 for a unified experience. The post-merger enhancements include adjustments and compatibility with the shared mobile app for reservations and wait time tracking at parks like .

Safety record and incidents

Cedar Fair maintains a comprehensive framework that includes rigorous operator training, daily ride inspections, and adherence to standards set by the International Association of Amusement Parks and Attractions (IAAPA). The company requires extensive training for ride operators, covering emergency procedures, equipment operation, and guest protocols, often through hands-on simulations and programs. Industry-wide from IAAPA indicates a low injury rate of approximately 0.9 injuries per million rides across U.S. fixed-site amusement parks, with serious injuries occurring at a rate of 1 in 15.5 million rides; Cedar Fair's operations align with or exceed these benchmarks through proactive maintenance and third-party audits. Notable incidents at Cedar Fair properties have been rare but significant. In September 2017, at Cedar Point, the Top Thrill Dragster experienced a malfunction when its catch car collided with the brake fins during operation, leading to the ride's closure for the remainder of the season; no injuries were reported, but the event prompted enhanced engineering reviews by the manufacturer, Intamin. Another incident occurred in August 2021 at the same park, where a metal object detached from a passing Top Thrill Dragster train and struck a guest waiting in line, causing serious head injuries and resulting in a lawsuit settlement; this led to immediate ride shutdowns and reinforced debris containment measures across Cedar Fair's fleet. In 2023, Cedar Point's GateKeeper roller coaster underwent maintenance following reports of structural concerns on a support beam, though no operational malfunctions or injuries were linked to the ride that year. Following major incidents, Cedar Fair implements thorough response measures, including independent engineering audits, ride retrofits, and operator retraining to prevent recurrences. The 2024 merger with Six Flags introduced unified safety enhancements, such as a chaperone policy requiring guests under 15 (or 17 at some parks) to be accompanied by a responsible adult (21 years or older), applied all day or after certain hours depending on the property, aimed at reducing unruly behavior and improving overall park security. This policy, rolled out across former Cedar Fair and Six Flags properties, has contributed to fewer behavioral-related disruptions without reported increases in ride downtime. Additionally, programs like Fast Lane help manage crowd flow, indirectly supporting safety by minimizing congestion around attractions. As of November 2025, Cedar Fair properties have reported no fatalities or severe injuries from ride malfunctions this year, though minor operational issues occurred, such as a cable detachment on Cedar Point's Power Tower in August, which stranded riders but resulted in no harm after a safe evacuation. The company has also emphasized weather-related protocols amid increasing storm frequency, closing rides during high winds or lightning to protect guests, with ongoing evaluations for more durable designs in future installations.

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