Six Flags Entertainment Corporation Stock Price, News & Analysis

Cedar Fair Entertainment Company (NYSE: FUN) has appointed Ty Tastepe as the new Senior Vice President and Chief Information Officer. Located in Charlotte, North Carolina, he will report directly to CEO Richard A. Zimmerman. Tastepe brings over 20 years of experience in digital transformation from major brands like Universal, Hilton, and Disney. His expertise aims to enhance guest experiences and strengthen Cedar Fair's technology and data security initiatives, aligning with the company's investment priorities.

Cedar Fair Entertainment Company (NYSE: FUN) reported strong performance through Labor Day, with 2021 attendance hitting 12.9 million and net revenues reaching $879 million. This marks a significant increase from 2020's figures of 2.1 million visits and $134 million in revenues. For the comparable 10-week period, revenues increased by $3 million from 2019 to $645 million, with in-park spending up by 25%. The company anticipates continued momentum into 2022, with season pass sales surpassing early numbers from the previous record year, underlining robust demand for immersive experiences.

Cedar Fair Entertainment Company (NYSE: FUN) reported strong demand for its amusement and water parks in Q2 2021, with net revenues reaching $224 million, up from $7 million in Q2 2020. Attendance rose by 3.4 million visits thanks to 354 additional operating days compared to last year. In-park per capita spending increased to $55.94. While total operating costs rose to $227 million, the operating loss decreased to $38 million from $142 million in 2020. The company maintains strong liquidity with $652 million available and anticipates $50 million in annual run-rate benefits from its Business Optimization Program.

Cedar Fair Entertainment Company (NYSE: FUN) is considering the development of a new esports arena in Sandusky, aiming to attract youth and collegiate gaming. The proposed venue will accommodate 1,500 spectators and feature 200 gaming stations, enhancing the entertainment offerings at Cedar Point. Partnering with Esports Development Co. LLC, the estimated cost of the project is $28 million. If approved, construction is expected to start before year-end, with opening anticipated in the first half of 2023.

Cedar Fair Entertainment Company (NYSE: FUN) will release its 2021 second quarter financial results on Wednesday, August 4, 2021, before the market opens. A conference call with management, including President and CEO Richard Zimmerman and CFO Brian Witherow, will follow at 10 a.m. EDT to discuss the results and provide a business outlook. Investors can listen via a live webcast on Cedar Fair’s investor site, with a recorded version available shortly after the call concludes.

Cedar Fair, L.P. (NYSE: FUN) has announced an extension of the expiration date for its exchange offer of $300 million in aggregate principal amount of 6.500% Senior Notes due 2028. The new expiration is set for July 16, 2021, having been originally scheduled for July 13, 2021. As of July 12, 2021, holders had tendered $218.31 million of the outstanding notes. The exchange will facilitate the transition from unregistered to registered securities, aiming to enhance liquidity for investors.

Cedar Fair Entertainment Company (NYSE: FUN) announced the transition of Duffield E. Milkie from his role as Executive Vice President, General Counsel, and Corporate Secretary after nearly 14 years. His resignation is effective immediately, although he will continue as an employee until September 30, 2021, in a nonexecutive capacity. After this date, he will serve as Of Counsel Advisor until February 2022. CEO Richard A. Zimmerman praised Milkie's leadership during transformative company developments and highlighted his contributions to successful public/private partnerships.