Owner of Dorney Park anticipates merger with Six Flags | Business News

Cedar Fair Entertainment Company, the parent company of Dorney Park and Wildwater Kingdom, has reported its first-quarter financial results for 2024, and despite the slow start to the year, there are positive signs of growth and momentum.

CEO Richard Zimmerman highlighted the company’s performance, noting an increase in guests and season pass sales despite fewer operating days compared to the same period in 2023. The company entertained 290,000 more guests and saw a significant uptick in season pass sales, indicating strong pre-season excitement.

Additionally, Zimmerman addressed the proposed merger with Six Flags, expressing optimism that the transaction will be completed before the end of the second quarter. Both companies are working with the Department of Justice to finalize the merger and are focused on driving the full potential of the strategic combination.

In terms of financials, Cedar Fair reported a 3% increase in net revenues and a 10% increase in attendance on a same-week basis compared to the first quarter of 2023. Operating costs and expenses also saw an increase, primarily due to SG&A expenses related to the merger.

Looking ahead, Cedar Fair remains optimistic about the rest of the year, with strong demand channels such as group bookings and resort reservations expected to drive continued growth. The company’s balance sheet and liquidity position are also solid, with total liquidity of approximately $157 million as of March 31, 2024.

Overall, Cedar Fair’s first-quarter results indicate a promising start to the year, setting the stage for another successful season for the amusement-resort operator.