Wait, wait, wait. If Cedar Fair gots it's debt from getting the Paramount Parks...why did they do it? Was it as simple as: Hey lets take the competition out, or did they think after a few years they'd be able to make twice or three times as much money as they did with just having Cedar Point...?
EDIT: Oh and to answer the question, I think the better investing option is the Comp. that has the most ability to grow. However, that is kinda hard to decide at this point isn't it? I mean sure CF is in mass amounts of debt, but don't they own twice as many parks as SIX? (If not than my next point is mute) so can't we assume that after a while CF should be able to earn back their profits? Perhaps not, I really don't know how much debt they are in, versus how much money they take back in...
So I am not sure. I'd say the best Investment is a long term investment...so invest in both and see what happnes haha