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Cedar Fair looking to sell CGA, WOF and VF

Talk about anything that has to do with the amusement park industry here.
Postby DejaVu2001 on March 9th, 2009, 11:58 am
"In addition, the Company continues to pursue the sale of excess land in the Toronto and Cleveland markets and continues to discuss the potential sale of California’s Great America, in Santa Clara, California, with the San Francisco 49ers. It has also completed a strategic review of its assets and has decided to explore the potential sale of Worlds of Fun, in Kansas City, Missouri and Valleyfair, in Shakopee, Minnesota. The Company said it would be premature to speculate on either the price or timing of any potential transaction."

Full press release: http://www.cedarfair.com/ir/press_relea ... ory_id=190

California's Great America is unfortunately not a real suprise with the whole 49er's BS and Prudential's blank-fest that got the GCI bumped off. Worlds of Fun is somewhat suprising since they're getting a new coaster this year. Valleyfair to me is the biggest suprise since it along with with Cedar Point was one of the original 2 CF parks, hence the name Cedar Fair.
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Postby rct2wizard360 on March 9th, 2009, 2:35 pm
Yeah I'm pretty sure CGA wont come a surprise to most of us.

But WOF and VF kinda jumped out at me.
Those are some really solid parks, with one getting a new coaster this year.
Surprising to say the least.

I would have thought to see most of the Paramount Parks go first, but then again, they did just buy them.
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Postby cycamps on March 9th, 2009, 4:09 pm
This news came to a surprise to me as well. As far as WOF goes, the land there isn't really worth much, so they'd have to sell it as a park. And if they sold it as a park, what company would buy? I'm not too sure what the land at Valleyfair is worth though...
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Postby Galvan317 on March 9th, 2009, 9:22 pm
I would have thought to see most of the Paramount Parks go first, but then again, they did just buy them.

The Paramount Parks are some of their most profitable parks, especially Canada's Wonderland and Kings Island. CGA doesnt surprise me because of the 49ers stadium situation, WOF dont care about, and VF is a lame park but surprises me because it pretty much owns its market.
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Postby FParker185 on March 9th, 2009, 11:09 pm
yeah the former Paramount parks are bread and butter for Cedar Fair. In the likes of Cincinatti, Richmond, VA, etc. Slightly larger and more profitable markets than say Minneapolis or Kansas City, both of which are relatively small.
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Postby monsterfan99 on March 10th, 2009, 1:20 am
FParker185 wrote:yeah the former Paramount parks are bread and butter for Cedar Fair. In the likes of Cincinatti, Richmond, VA, etc. Slightly larger and more profitable markets than say Minneapolis or Kansas City, both of which are relatively small.

This is very true. You also have to consider ValleyFair is competing with the revamped Nick Universe.

I don't see either parking going. I would be stunned to see Worlds of Fun go after adding a brand new woodie. CA Great America, however, should be put on high alert raze watch. On the positive, in July, it is only 212 round trip from Milwaukee to San Jose. Might get a chance to go there before the park becomes an end zone and part of a parking lot.
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Postby FParker185 on March 10th, 2009, 6:36 pm
Yeah if they are sold I don't think either park will close up. Parts of VF! are on a flood plain which renders it useless, WOF! seems to be a fairly successful park. Part of this also could be just something to passify stockholders who are seeing a lot less $$ this year, CF saying they want to sell the parks, when they know that in this current market buyers are few and far between, also anyone interested in buying a theme park are preoccupied by HRP, though that's over with now, but all the Busch Parks are up for sale also.
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Postby w00dland on March 11th, 2009, 3:26 pm
Not sure if there are any buyers in MN, but I think Valleyfair would function really well as a family owned regional type park. Its fairly small and has enough thrill for the market that it serves, and if the potiential buyers could add a few nice "homey" type aspects to the park like they have in Dollywood I think it could really flourish into a great place to spend the day. Right now the park isn't sure what it is.
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Postby Ilovthevu' on March 12th, 2009, 11:17 am
If I were Cedar Fair, I would probably do the same thing, but again the market as someone has said is bad. Because of the Paramount Parks, they are are in huge debt even though doing better than Six Flags. For those parks, I would let go of them like they are doing. They don't seem to be really great parks in my opinion just based on the rides.

Again though I'm not that much into Cedar Fair like Six Flags. It's just the roller coasters. I don't get why you would put in a new roller coaster this year though at World's of Fun. That makes no sense!
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