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Latest news

Green Flag

  • Poster: Jonathan
  • Thu Feb 04, 2010 4:31 pm

At around 4:27 PM today, Intimidator completed its first test run, appearing to glide through the course at a very quick pace. Some members were out there this afternoon, so we will forward along photos and/or videos later as they surface.

Here is the first video, from user Wormy:


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Full 2010 Calendar Posted

  • Poster: Jonathan
  • Wed Jan 20, 2010 7:51 pm

The official website has posted the 2010 Carowinds operating schedule HERE.

As already announced, opening day is March 27. Weekend only operation will continue, with the park open weekdays the week of April 4 for Spring Break, and then the park opens every day in June and July. Weekend only operation resumes August 21. Scarowinds begins on September 17 and runs until the last operating day, Halloween, October 31. Boomerang Bay opens on May 29 and closes on September 6.

The park has also announced they are hiring 2,100 seasonal jobs for this season. All of that info can be found at http://jobs4fun.com.

Views: 56  •  Comments: 0  •  Write comments
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Intimidator First Ride Auction Underway

  • Poster: Jonathan
  • Thu Jan 14, 2010 12:32 pm

As has been the case with many new coasters opening in the last few years, Carowinds will hold a charity auction to be one of the first 96 public riders at 10:00 AM on opening day, March 27th. The minimum bid is $50 for a seat, and winning bids receive a seat on one of the first three public trains, as well as two admission tickets to the park. Seat preference will be given in order of bid amount. The auction ends at 11:59 PM on March 23rd.

All proceeds will go to The Dale Earnhardt Foundation, which distributes money to programs centered around children, education, and wildlife. Charities include JDRF (Juvenile Diabetes Research Foundation), Make-A-Wish Foundation® of Central & Western North Carolina, and the American Red Cross.

The website for the Indimidator First Ride Auction can be found HERE.

Views: 51  •  Comments: 0  •  Write comments
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Trains

  • Poster: Jonathan
  • Tue Jan 12, 2010 11:30 am

Just moments after my post yesterday, the park posted some new photos, which can be found HERE.

The first Intimidator train is on site.

Image

Views: 74  •  Comments: 0  •  Write comments
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Mark Your Calendars: Carowinds Opens March 27

  • Poster: Jonathan
  • Mon Jan 11, 2010 4:34 pm

It's official. Carowinds and Intimidator will open for the 2010 season on Saturday, March 27. The park announced the opening date today as well as a "Buy Now, Pay Later" season pass program which stipulates that until January 17, season passes can be purchased with no payment due until March 1.

With track work complete on Intimidator last month, there won't be much to report until trains show up and testing begins. Landscaping of the plaza area and construction on the station and gift shop are ongoing.

Views: 59  •  Comments: 0  •  Write comments
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Merry Christmas!

  • Poster: Jonathan
  • Tue Dec 22, 2009 1:53 pm

An early Christmas gift from Carowinds.

Image


Monday, the final piece of Intimidator track was hoisted into place. The circuit of the tallest, fastest, and longest roller coaster in the southeast is now complete. Construction of the ride was really completed at a lightning quick pace, and there will be plenty of time for landscaping and testing in the next few months building up to what should be a late March opening date.

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Cedar Fair Sold to Apollo Global Management

  • Poster: Jonathan
  • Thu Dec 17, 2009 10:10 am

Full Press Release

SANDUSKY, OHIO, December 16, 2009 -- Cedar Fair, L.P. (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, announced today that it has entered into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management, a leading global alternative asset manager.

Under the terms of the agreement, Cedar Fair unitholders will receive $11.50 in cash for each Cedar Fair limited partnership unit that they hold, representing a 43% premium over Cedar Fair’s volume weighted average closing unit price over the past 30 days and a 28% premium over the closing unit price on December 15, 2009. The transaction is valued at approximately $2.4 billion, including the refinancing of the Company’s outstanding indebtedness. Affiliates of J.P. Morgan, B of A Merrill Lynch, Barclays Capital Inc., UBS Investment Bank and KeyBanc Capital Markets have provided an aggregate $1.95 billion financing commitment in support of the transaction.

The board of directors of Cedar Fair has unanimously approved the merger agreement and has resolved to recommend that Cedar Fair limited partnership unitholders adopt the agreement.

Cedar Fair’s chairman, president and chief executive officer, Dick Kinzel, said, “We have considered a wide range of strategic alternatives over the past several years. After considering these strategic alternatives, we have concluded that the transaction with Apollo is in the best interest of our unitholders.”

“This transaction allows Cedar Fair unitholders to realize significant value from their investment in our Company over recent trading levels,” added lead director, Michael Kwiatkowski. “Apollo has a strong track record of growing businesses, and its desire to add Cedar Fair to its portfolio serves as a testament to our solid business model and the talent of our people.”

Aaron Stone, a Senior Partner at Apollo, said, “We are extremely pleased to be acquiring this premier amusement park operator. We look forward to partnering with Cedar Fair’s management team and employees to build on the many strengths of the Company. We are firmly committed to Cedar Fair’s continued growth as an industry leading amusement park operator.”


Cedar Fair has been a publicly traded company since 1987, and this announcement follows on the heels of Blackstone's purchase of Busch Entertainment and the decision to take those parks private. Cedar Fair's stock was the second most valuable in the amusement park industry behind Disney. The deal is valued at $2.4 billion, but an estimated $1.6 billion of that is debt that will be taken on by the new owners. The company took on a very large amount of debt when it acquired the Paramount parks (including Carowinds) in 2006 for $1.24 billion.

Apollo, a company with nearly $40 billion in assets, will give Cedar Fair a strong cash backing that they have been looking for since the Paramount acquisition. Other notable Apollo holdings in the entertainment and tourism industry include AMC Entertainment, Harrah's Entertainment, Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises.

The sale will be contingent on the approval of two-thirds of the shareholders, and should close around March or April of 2010.

Views: 216  •  Comments: 2  •  Write comments
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