Cedar Fair Drives Strong YTD Results Thru Summer Season

[The Interpreter]

Cedar Fair Drives Strong Year-To-Date Results Through Summer Season

- Revenues up $32 million through Labor Day Weekend compared with year ago - Increases attendance by 905,000 visitors, or 5%, to 18.7 million visits - Company reaffirms full-year revenue and adjusted EBITDA guidance

SANDUSKY, Ohio, Sept 08, 2010 - Cedar Fair Entertainment Company (FUN 11.86, +0.21, +1.80%) , a leader in regional amusement parks, water parks and active entertainment, today reported that it has continued its strong year-to-date operating performance through the Labor Day weekend.

Through September 5, 2010, revenues increased approximately $32 million, or 4%, to $824 million compared with $792 million a year ago. This continued strong performance is due primarily to attendance increasing 5% to 18.7 million visitors and out-of-park revenues increasing 6% to $87 million when compared with last year. Average in-park guest per capita spending was down 48 cents to $39.28 during this same period. The decrease in the average in-park guest per capita spending is a result of increased season pass sales and a shift in the attendance mix toward season pass visits, typically a lower per capita guest, in the southern and western regions.

"We are pleased with our overall performance this summer," said Dick Kinzel, chairman, president and chief executive officer. "We have experienced solid performances across all of our regions and we are hopeful this will continue as we enter our award winning Halloween season. There continues to be a positive guest response to the new rides and attractions we introduced this year, especially in our southern region where we built two world-class coasters. Strong marketing and pricing initiatives have driven growth, including in our western region where adjustments to our season pass program at Knott's Berry Farm have been very popular. The northern region has also received favorable responses to promotions offered through our online and social media outlets as well as targeted promotions through our retail partners."

According to the Company, the parks in the southern region reported a 9%, or $12 million, increase in in-park revenues. This increase was primarily attributable to a 13% increase in attendance, or 444,000 visits, offset somewhat by a 4% decrease in average in-park guest per capita spending. The parks in the northern region increased in-park revenues by 2%, or $10 million, while in-park revenues in the western region increased 3%, or $4 million. The increase in the northern region is a result of a 2% increase in average in-park guest per capita spending and a 1% increase in attendance, or 83,000 visits. In contrast, the western region experienced a more than 10% increase in attendance, or 378,000 visits, offset by a 7% decrease in average in-park guest per capita spending.

"We view our performance to date as further evidence of the underlying strength of our business model and the entertainment value we provide families," said Kinzel. "Based on this recent performance, coupled with the recent completion of the refinancing of our debt, we remain enthusiastic about the potential value creation, through distributions and debt reduction, for this company over the long term."

Kinzel concluded by stating that based on the preliminary August results, the Company reaffirms its current guidance of full-year revenues between $940 million and $965 million and full-year adjusted EBITDA, excluding one-time costs, between $320 million and $340 million.

About Cedar Fair

Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Amusement parks in the Company's northern region include two in Ohio: Cedar Point, Sandusky, consistently voted "Best Amusement Park in the World" in Amusement Today polls; and Kings Island, near Cincinnati; as well as Canada's Wonderland, near Toronto; Dorney Park, Allentown, Pa.; Valleyfair, Shakopee, Minn.; and Michigan's Adventure, near Muskegon, Mich. In the southern region are Kings Dominion, Richmond, Va.; Carowinds, Charlotte, N.C.; and Worlds of Fun, Kansas City, Mo. Western parks in California include: Knott's Berry Farm, Buena Park; California's Great America, Santa Clara; and Gilroy Gardens, which is managed under contract.

Forward-Looking Statements

Some of the statements contained in this news release constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including statements as to the Company's expectations, beliefs and strategies regarding the future. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, competition for consumer leisure time and spending, adverse weather conditions, unanticipated construction delays and other factors discussed from time to time by the Company in reports filed with the Securities and Exchange Commission (the "SEC") could affect attendance and guest spending at our parks and cause actual results to differ materially from the Company's expectations. Additional information on risk factors that may affect the business and financial results of the Company can be found in filings the Company has made with the SEC. The Company undertakes no obligations to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release and prior news releases are available online at http://www.cedarfair.com.

[CoastersRZ]

So they are attributing the drop in per caps to an increase in visits from pass holders? The abnormally high food prices have nothing to do with the drop at all, right? When will they learn to give pass holders a discount on food so that instead of drawing per caps down, they can be enticed to spend more money and pull per caps up?

[The Interpreter]

...or to at least greatly improve the quality of the food offerings and the service so that they are actually worth a premium price?

[markr]

^Like last weekend when I was at CP, I ordered a hamburger basket in the frontier section of the park. As the old lady said in the Wendy's ad, " Where's the beef?" My burger filled up about half the bun. This time, I showed my hamburger to a manager at the food stand and asked if he expected a guest to pay over $9 for this. The manager was very nice and put another burger on my bun. My friend and I spent about $20 at Bob Evans for dinner later that day because of this negative experience. That adds up to a lot of lost food revenue when you consider the many other guests who leave the park to eat.

[The Interpreter]

Two things:

The greatly reduced quality of the supposedly now made in the park pizza at Cedar Point may alone make up most the per cap decrease. That stuff is, in my humble opinion, nasty beyond belief. Dripping with orange grease, doughy crust...shriveled up hard pepperoni...what's to like?

And a Kings Island park rep would doubtless claim the park DOES offer discounts to passholders. I'm sorry, but a deal for four people does not help me in any way....and I have no interest in funnel cakes, cinnamon rolls, etc. Where's that fruit they said they'd look into months ago?

[RailRider]

I always like to think we complain because we care, if there were no complaints then apathy or indifference has set in and that is not a good thing.

Still positive results for the most part for a tough economy and a hot summer.

[CedarPointer]

Where's that fruit they said they'd look into months ago?

I know that Outer Hanks has strawberries with whipped cream and watermelon. Not exactly the most healthy option, but at least it's something. (some other places have them also, but I don't know which ones)

[Oldiesmann]

CF also needs to learn that an increase in season pass sales should lead to an increase in per-caps, as season pass holders don't have the expenses of park admission and (in most cases) parking.

A typical family of four will be out over $100 just by the time they walk through the turnstiles. They're not going to want to spend a lot in the park as they can't afford it. A season pass holder on the other hand has more money to spend without the cost of admission and (in most cases) parking.

Kinzel also needs to learn the meaning of competitive pricing. With so many fast food places near KI competing for guests' money, food prices are an important factor - much more so than they would be at a more rural park where guests need to drive 30-45 minutes to find a decent fast food joint.

Of course, KI was once a rural park, but that is no longer the case.

[The Interpreter]

http://www.sanduskyregister.com/2010/sep/10/cfsidebarjs091010xml

[Pillsberry123]

It's good to hear something positive from a company that wasn't looking so good this time last year. Either way, I agree about the food prices, although this is true for a lot more than just Cedar Fair parks. Look at other parks, movie theaters, ect. The days of good park food are long over, and the only places that remain are the parks that specialize in different types of food like Busch Gardens Williamsburg and Epcot.

I liked Indiana Beach for the fact that leaving the park WASN'T needed to get a halfway decent (and cheap) meal. As for the other meals I've had at parks recently: I didn't like the pizza at Holiday World, I've never had an above average meal at Cedar Point, and the food at Kings Island is stuff that management should be ashamed of. Skyline taste nothing like it should, and the portions across the board are stingy beyond belief. Eating at parks has become Taboo.

[CedarPointer]

Skyline taste nothing like it should

It's *exactly* the same as outside the park.

[The Interpreter]

Which doesn't mean it tastes as it should. If it did, it'd be the taste that's taking over.

Terp, looking for his gold star...

[CoastersRZ]

Now that was bad! I am a die hard Skyline fan, and can probably count the number of times I`ve been to Gold Star on my hands! Skyline on the other hand, I`ve likely been there ten times in the last two months! Although, I have not eaten at Skyline at KI this season. I do know that even at Skyline locations, there are pricing differences. There are two Skylines near me, one is company owned the other franchisee owned. The company owned one has 3-ways for $4.99. The franchise location has them for $5.49!

[Pillsberry123]

Skyline taste nothing like it should

It's *exactly* the same as outside the park.

The hot dog buns were small, the chili was obviously reheated, the portions were small, and my coneys tasted like they were thrown in the microwave. Skyline chili is served on a *fresh* bun, a fresh pot of chili, big portions, and coneys that are made as you order them.

Never really liked Gold Star. Either way, Camp Washington beats the heck out of any of them...

[The Interpreter]

Well, if you want to go with the independents, I highly recommend Dixie Chili!

[Pillsberry123]

I've never been to the actual location, but I've had their stuff out of the can and it was very good.

[CedarPointer]

The hot dog buns were small, the chili was obviously reheated, the portions were small, and my coneys tasted like they were thrown in the microwave. Skyline chili is served on a *fresh* bun, a fresh pot of chili, big portions, and coneys that are made as you order them.

Never really liked Gold Star. Either way, Camp Washington beats the heck out of any of them...

They don't even have a microwave.