The new Six Flags – led by former Cedar Fair CEO Richard Zimmerman – issued its first joint earnings report Thursday, and revealed some details of what’s ahead for the new company.
CLEVELAND, Ohio – Cedar Fair went out on a high note, with a record-setting second quarter, buoyed by an increase in attendance, revenue and out-of-park spending.
While some of Cedar Fair’s attendance boost was attributed to a shift in the calendar, Zimmerman also cited robust season pass sales and the return of group business for the increase. He also said parks in markets that debuted new major attractions had seen a significant attendance increase. The merger was official July 2. Former Cedar Fair parks in Ohio, Cedar Point in Sandusky and Kings Island near Cincinnati, are included in the transaction.
On the call, Zimmerman reiterated what he sees as the benefits of the combined company: a larger geographic footprint that is more insulated from regional weather factors and other concerns; costs savings through operational efficiencies; and greater brand loyalty with more parks to enjoy.Due to an “extensive antitrust review process,” he said Six Flags and Cedar Fair were limited in what they could share about individual parks during the merger talks.
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