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Cincinnati Business CourierOriginal Article »
June 04, 2007
Cedar Fair Entertainment Co., the parent of Kings Island amusement park in Mason, reported revenues on a same-park basis were relatively unchanged for the first five months of its 2007 season.
The Sandusky, Ohio-based company reported combined revenues through Memorial Day weekend of $147.2 million, with 3 million guest visits and average in-park per-capita spending of $41.26.
On a same-park basis, net revenues were down by 2 percent, or $1.5 million, compared to the same period in 2006. Attendance was down 5 percent, while per-capita spending rose 5 percent, according to a news release. Several of Cedar Fair's amusement parks opened later this year than in 2006, which accounted for the revenue decrease.
Cedar Fair acquired Paramount Parks, including Kings Island, last June. Most of the company's revenues, with the exception of three year-round venues, realize most of their income between early May and the end of September.
Cedar Fair (NYSE: FUN) operates 12 amusement parks, five outdoor water parks, one indoor water park and six hotels.
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