Leland Wykoff

The Orange County Register has an insightful article discussing the aggressive and unwise discounting Six Flags has undertaken. It is worth noting Cedar Fair had years of experience holding pricing power and raising revenues thru careful pricing strategies. The current fire sale on season passes damages the product, experience, and future expansion and capital investment as well as sets a new low floor price and trains guests to expect extraordinary cheap admissions moving forward. Additionally, Cedar Fair sets itself up for having to potentially take massive write downs on assets as they may not be able to generate expected economic returns. An example of which we saw when Cedar Fair recorded the write down and impairment of the Schlitterbahn water parks in Texas. Following the $261 million acquisition, Cedar Fair folded the Schlitterbahn Resorts into its annual pass program. This substantially reducing the average gate and admission revenues. Resulting, it is believed, in the impairment of value. Beware such discounting. Six Flags is slashing season pass prices it is aggressively adding up-charges for park experiences such as Halloween attractions and haunts. Freddy Krueger sinks yet another knife into the backs and purses of season pass holders. Frightening financial developments: https://www.ocregister.com/2025/08/12/niles-is-six-flags-cutting-ticket-prices-by-too-much/

Even the hometown paper, The Sandusky Register, is stating Zimmerman was let go due to poor performance: https://sanduskyregister.com/news/616158/six-flags-ousts-ceo/ Once again Cedar/Six blamed 'the weather':for dismal performance. This after touting the merger as the hedge against weather events. Good riddance to Richard. He, and his team, mucked up the transition and integration of Six Flags from day one. One poor decision following upon poor decision. Much of the promised cost cutting and savings was accomplished by simply removing significant Park assets and rides without warning. This has resulted in reluctance of guests to purchase full priced season passes as they have no confidence in what rides, shows, and seasonal events will still be in offered the parks next season. People are being asked to buy a pig-in-a-poke. And the result is they aren't buying. At least the board took action rather quickly. With luck a qualified successor will be quickly located and hired and 'Lil Dick can be sent packing early. Pitiful.

Six Flags Entertainment seems to be suffering a serious lack of management ability to construct and operate new and refurbished rides. If Cedar Point management hoped Siren's Curse would eclipse memories of the failure of Top Thrill II to properly launch last season, they were sorely mistaken. Current management seem experated in efforts to introduce quality rides on time, within budget, displaying acceptable reliability, and pleasing park visitors. Management has shown a frightening skill removing, closing, and discontuing attractions. Note such closures require limited management skills. https://nypost.com/2025/07/28/us-news/cedar-points-sirens-curse-rollercoaster-breaks-down-for-4th-time-since-opening-forcing-riders-to-scale-down-160-foot-tall-curve-video/?utm_source=aol&utm_campaign=nypost&utm_medium=referral

Orange County Register today publishes an article pointing out a possible closure date for Californias Great America following the Halloween season in 2027. https://www.ocregister.com/2025/06/20/californias-great-america-could-close-after-2027-season/

The Toledo Blade has an informative article about the explosive growth and employment of international workforces in the Amusement Park Industry: https://www.toledoblade.com/business/labor/2025/06/12/group-promote-international-work-exchange-program-cedar-point/stories/20250606115

Dollywood, as part of its 40th Anniversary, has produced a video featuring Executive Chef Bobby Brown, detailing how the famous Cinnamon Bread at the Gris Mill is produced. The report indicates 3,000 units can be sold per day. Selling for $14.39 per loaf, including taxes, Cinnamon Bread can generate daily revenues of $43,170.00! https://www.facebook.com/share/v/19H6hou7fd/

Here is an open story, which includes Ouimett's quotes: https://www.amusementsource.media/news/2025/5/24/more-six-flags-cuts-all-park-president-positions-eliminated-former-cedar-fair-ceo-responds

Former CEO Matt Ouimet offered his views on the routing of tenured leadership at the merged Cedar Fair/Six Flags. Ouimet indicates he retired and left Cedar Fair a year prior to the merger to avoid being a part of the cost cutting dismissals of top leadership. This Orange County Register article covers Ouimett's statements in its broad article reporting on the elimination of the Park President positions across the entire Six Flags Entertainment chain: https://www.ocregister.com/2025/05/23/six-flags-lays-off-knotts-and-magic-mountain-presidents/

Attractions Magazine has quite an interesting story reporting on the Six Flags Investor Day at Cedar Point (see link below). Six Flags outlined aggressive growth in attendance, season pass sales, expanded food and beverage revenues, significant increases on in park spending, festival/special event growth, among other plans for revenue enhancement. Six Flags was also reported by Attractions Magazine to recommitting to continued cost reductions in coming seasons in the $50-60 million dollar range for the next two years. At the time of the Merger Six Flags/Cedar Fair management assured the investor community serious operating cost reductions and synergies were planned. However, the markets seem to have been disappointed in the delivery of these promised reductions. It appears, to some investors, the bulk of the savings have been achieved simply by tearing down and/or removing significant marque rides and attractions from multiple parks. In other words, by simply discontinuing operating the stock-and-trade of the amusement park industry--landmark rides. Investors question the wisdom of simply reducing attraction inventory to achieve cost reductions. Particularly given most of the removals occured with little or no warning at the close of last season. No revenue producing final season fanfare, or collector merchandise, or send off celebrations. Hasty closures suggests management may have been having difficulties delivering on the promised cost savings. Absent in the Attractive article was a deep dive into how Six Flags proposed to increase revenues across its many hotel, campground, and resort hotel properties. If Six Flags covered this area it must not have been impressive enough to merit mention. Enjoy the read: https://attractionsmagazine.com/six-flags-entertainment-future-focus-investor-day/

Interesting article exploring the evolving food and beverage service and offerings, particularly from the perspective of kitchen equipment and labor reduction techniques: https://fesmag.com/topics/trends/22740-amusement-parks-make-major-f-b-investments

Take a look at this excellent video for updates and progress at Dollywood as they get ready to celebrate their 40th Anniversary: https://www.facebook.com/share/v/1FQdsg62cQ/

Six Flags gets a mention on Saturday Night Live Weekend Update news section https://www.facebook.com/share/r/1BVo97f6Rs/

Six Flags Entertainment has announced $5.00 per hour wage cuts for many seasonal employees. It appears Cedar Point will rely upon even more J-1:workers. The Sandusky Register has published a scathing editorial: https://sanduskyregister.com/news/560392/welcome-to-america/

Universal has entered a quiet period surrounding planning and negotiating Theme Park assets near Bedford: Universal in talks with government over UK theme park | blooloop

Appeals Court holds Cedar Fair did not violate the Americans with Disability Act when it refused to let a blind man operate a bumper car without assistance. Further, the court ruled Cedar Fair had no duty to provide assistance to the blind man by providing an Sherpa for the experience: Appeals court sides with amusement park operator over blind man on bumper cars | St. Louis Record (stlrecord.com)

Inside the collapse of Disney’s America, the US history-themed park that almost was (theconversation.com)

Like Beatrice snatched products from Wesson Oil to Samsonite Luggage?

The generally accepted rule for prudent theme park development calls for a major marketable capital investment (MCI) to occur on a three year cycle. Historically, a MCI was viewed as a major thrill ride, themed area installation, or addition of a major resort hotel property. In the two valley years between MCI smaller investments such as flat rides, theaters/entertainment venues, restaurants, retail, and place-making would be undertaken. This allocation of investment allowed parks to fully capture revenue values from major ride additions as the first year brought in new-to-park guests, second year those guests returned along with fallen-away guests, and third year the shine was still on the major investment and pulled in new and returning guests as the reputation of the investment continued to create and maintain guest demand. Valley years allowed parks to take a break from large capital intense investments while focusing primarily on direct revenue generation additions such as food and beverage, shops, parking, line-skip passes, and other new revenue streams. Example: Cedar Point invested heavily in the "new" Top Thrill 2 attraction for 2024. Prior to the discovery of the issues which have crippled the deployment of this ride, we could assume Cedar Point would go approximately three years before the announcement of another major new attraction. In the valley years we could have anticipated water park additions, flat rides, Camp Snoopy improvements, new food venues, shopping, and such. With the coming merger completion of Six Flags and Cedar Fair in the next week or so we can assume a much refined, and likely reduced from historical levels, MCI plan chain wide. Six Flags parks will require much cosmetic adjustment such as painting, deferred maintenance attention, place-making, food and beverage enhancements, and retail additions to improve on-park expenditures. Seasonal enhancements such as IP related Haunt product introductions as just announced will flesh out the capital expenditures budget. Major rides will likely be placed on the back burner for a couple of years as park potentials are evaluated, marketing studies are undertaken, and legacy Cedar Fair management works to establish and restore relationships with major ride manufacturers. Given the past bad blood between Cedar Fair and several ride manufacturers, and the effort to elevate Zamperla via TT2 has gone south, compounding Cedar Fair management failures to manage ride projects on-time and on-budget (think Knott's Berry Farm and its long idle Montezooma's Revenge and ongoing issues with Xcelerator), failure to successfully implement the Amusement Dark project introducing dark rides to each park, and apparent lack of follow thru on projects to expedite replacement ride part manufacturing in Ohio (rather than awaiting long delays on parts to be crafted by China and other Asian suppliers), management seems lacking in the skill sets necessary to engage in large complicated capital projects at this point in time. Watch for Cedar Fair/Six Flags managers to be picking up paint brushes, rather than erecting cutting edge rides for the foreseeable future. After all, management is still struggling to integrate an off-the-shelf mouse coaster at Cedar Point sourced from Zamperla. Tough engineering projects are likely on hold for the time being at Six Flags Entertainment.

Cedar Fair could have put the breaks on this IP expansion had they so desired. This is a clue the combined company will not run away from expanded IP as Cedar Fair historically has. Reports suggest additional Six Flags parks expect to announce additions of the stable of participating parks in adoption of the haunted house IP. As major streaming services expand efforts to monetize IP revenues watch for CF/SF to expand these branded experiences. Paramount and Warner Bro. Discovery are both desperately seeking to turn around losses in streaming. Neither of these entities have substantial theme park presence. Thus partnership opportunities exist which could be beneficial and profitable to both studios and the new Six Flags. Keep in mind these are rather low cost additions and enhancements to offerings already budgeted and planned for park operations. Large parts of each additional penny of revenue falls directly to the bottom line of operating profitability. Such deployment of capital investment has the potential of significant returns at low risks and low costs. Such enhanced haunted product will also be characterized by high mobility--haunt features and themes can be switched out and rotated among parks to provide constant annual refreshment of the product in various local markets. The potential exists for expanding relationships and partnerships with streaming services eager to expand product lines, awareness, merchandising opportunities, and unlock values from their vaults (note Saw is promoted as a 20th Anniversary product). The combined Cedar Fair/Six Flags provides a platform for showcasing exciting seasonal offerings and launching stages for a variety of IP products. These can potentially drive admissions, merchandise, and other on-park revenues. All at relatively low costs. The combined Six Flags Entertainment will be stretched thin as it deploys capital expenditures to upgrade both parks and park/company reputations. This will require an agile deployment of invested capital spends. FUN will be looking to maximize impacts and create bragging rights over competitors. FUN will not have adequate capital spend to simply add signature ride after ride to parks in the near future. Wow Factors must arrive at lower costs and risks. Seasonal and shoulder season revenue expansions are prime areas of exploitation to produce year round excitement and highly desirable new guest offerings.

Cedar Fair announces and confirms the management leadership which will take the reins of the newly merged company. Six Flags Entertainment Corporation will be the name of the merger of Cedar Fair Entertainment and Six Flags. The merger is anticipated to close July 1, 2024. The new company will relocate corporate offices to Charlotte, North Carolina, whilst also maintaining some corporate functions and offices at Cedar Point in Sandusky, Ohio, at least initially. https://www.msn.com/en-us/money/companies/cedar-fair-six-flags-reveal-leadership-lineup-as-merger-finalizes/ar-BB1osAme

The Disney Shareholder vote for the Board of Directors is tonight 4/2/24 at 11:59 pm. This is your opportunity to vote, or change your vote, for the dissident Board of Directors slate comprised of Nelson Peltz and former Disney Executive Jay Rasulo (you must also vote "Withhold" on the following candidates: Michael B.G. Froman, Maria Elena Lagomasino, Craig Hatkoff Jessica Schell, and Leah Solivan) if your goal is to elect Peltz and Rasulo. Disney has lost its way. Disney seems to be doubling down on producing movies and entertainment for which no profitable market currently exists. Disney studios has lost more money in one year than any studio in history--and that's saying a lot. Disney Parks and Resorts have been neglected, under invested, and treated like cash cows to fund any manner of foolishness in other divisions of the company. The newest Disney Cruise Line ship has debuted to less than stellar reviews. Streaming services are a huge money draining mess. Who is Nelson Peltz? And why do shareholders believe Peltz/Rasulo is the catalyst need to effect positive change and get Disney back on track as the premier entertainment company? Because Peltz has pulled off such a task before: he lead the board turn around of Proctor and Gamble and improved the performance of the company to all time highs. Rasulo has been an insider at Disney and clearly sees the problems created by current leadership. After Nelson Peltz exited Proctor and Gamble he moved on the join the board of international consumer goods company Unilever. The turnaround is well underway, non-core product lines have been divested, board governance has improved, a sharp focus has been placed on the most promising, profitable, and consumer preferred brands, executive talent has been sharpened and adjusted to execute a plan of success. Below is a link to the Unilever Growth Action Plan which reports upon, updates, and provides clear details about the turnaround. This plan is miles ahead of anything Disney has crafted to outline a concise plan of attack upon their many issues. Read the Unilever Growth Action Plan and decide for yourself if this is the type of leadership Disney shareholders deserve. If you agree that it is, vote, or adjust your vote, tonight to support Peltz/Rasulo. For those who think they have to few shares to make a difference, you should know Peltz board vote was so close at Proctor and Gamble that initially the company announced he had lost the vote. In fact Nelson Peltz won the vote by an extremely thin margin of victory. It is not to late to quickly vote or adjust your vote tonight. Here is the promised link to the Unilever Growth Action Plan update: https://www.unilever.com/news/press-and-media/press-releases/2024/implementing-growth-action-plan-at-pace/

Oh, my. What does this announcement suggest we might look forward to under the proposed Six Flags Cedar Fair merger? Five plus year timelines to refresh, renew, and renovate rides? If Cedar Fair has had this much difficulty managing rather mundane roller coaster updates one must question the ability of current management to integrate an entire chain of parks composed of troubled assets. A season pass holder system in shambles, failing on-park revenue growth, vast areas lacking strong elements of 'place making,' rundown facilities screaming for serious and urgent maintenance, among a host of other issues. The capital investments necessary are a daunting task to grasp. Much less finance and execute. We are to believe an organization which lacked the necessary moving parts to repair two coasters in a timely manner at Knott's Berry Farm is the correct management team to take on Six Flags and its plethora of problems? Color me skeptical.

Cedar Fair settles with two employees for $50,000.00 in housing age discrimination issue. Cedar Fair also agrees to modify housing requirements and procedures. https://www.cleveland.com/court-justice/2024/02/cedar-points-parent-company-agrees-to-reforms-pay-50000-in-eeoc-age-discrimination-case.html

The Cedar Fair board has began the process of awarding executives bonuses for arranging the proposed Six Flags merger. No doubt other payouts will be announced as time marches on. It is telling former CEO, board member, and man charged with acquisitions, Matt Ouimett is no longer onboard and seems to be left out of the bonus gravy train. Things to think about. https://www.tipranks.com/news/company-announcements/cedar-fair-grants-special-award-to-executive-pre-merger