Cedar Fair Capitalizes on Opportunity to Sell Its Land at California’s Great America Amusement Park

Press Release from Cedar Fair

SANDUSKY, Ohio (June 27, 2022) – Cedar Fair, L.P. (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today announced it has sold the land at its California’s Great America amusement park and plans to close the park. Cedar Fair elected to sell the land to Prologis, Inc. (NYSE: PLD), a Bay Area-based logistics real estate company, for approximately $310 million with a lease agreement. The Company will continue to operate the park for a period of up to 11 years and then will close existing park operations at the end of the lease term.

The land sale, which was marketed by CBRE, was the outcome of a strategic review initiated by Cedar Fair in 2021 to explore potential avenues to maximize the value of the Company’s extensive asset portfolio. Cedar Fair purchased the land at California’s Great America in 2019 from the City of Santa Clara after the State of California dissolved redevelopment agencies, requiring the city to cede its ownership of the property to pay off existing debt. Prior to that transaction, the Company leased the land from the City for more than 40 years.

Cedar Fair intends to use proceeds from the land sale transaction to accelerate progress on its strategic priorities of reducing debt to achieve its $2 billion target, investing in high-return projects within its portfolio such as upgrading resort properties, and reinstating a sustainable unitholder distribution. Based on the strength and pace of the recovery since reopening its parks in 2021, and due to the additional capital raised through the Great America transaction, Cedar Fair expects to reinstate quarterly unitholder distributions by the third quarter of 2022, subject to review and approval by the Cedar Fair Board of Directors.

“We chose Prologis as our partner because of their deep ties in the Bay Area and their reputation for working closely with local communities on large developments,” said Cedar Fair President and CEO Richard A. Zimmerman. “For our investors, the sale and lease agreements allow us to monetize a high-value asset in the heart of Silicon Valley at a very attractive multiple. The transaction also provides us with a substantial sum of incremental capital which we intend to use to further advance our strategic priorities and generate enhanced returns for our unitholders.”

About Cedar Fair

Cedar Fair, L.P. (NYSE: FUN), one of the largest regional amusement-resort operators in the world, is a publicly traded partnership headquartered in Sandusky, Ohio. Focused on its mission to make people happy by providing fun, immersive, and memorable experiences, the Company owns and operates 13 properties, consisting of 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling more than 2,300 rooms and more than 600 luxury RV sites. Cedar Fair’s parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario.

Six Flags Over Texas Opens Pirates of Speelunker Cave Ride

Press Release from Six Flags over Texas

ARLINGTON, Texas — May 12, 2022 — Six Flags Over Texas, the Thrill Capital of Texas, will open the highly anticipated, Pirates of Speelunker Cave, this Saturday, May 14. This family ride is a re-imagining of one of the park’s first attractions, The Cave, that operated from 1964 until 1991 and featured original characters called Speelunkers that were created exclusively for Six Flags Over Texas.

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Six Flags Hurricane Harbor Splashes Into Summer 2022!

Press Release from Six Flags Hurricane Harbor Los Angeles

LOS ANGELES, CALIF. — May 3, 2022 — Back with a splash, Six Flags Hurricane Harbor is ready to keep Southern Californian’s cool all summer long with over 25 unique slides and attractions for the entire family. The water park season kicks off Saturday, May 28 for weekends including Memorial Day on May 30, and will be open daily beginning June 11.

“Hurricane Harbor continues to be the perfect summer gathering spot for friends and families of all ages,” stated Six Flags Hurricane Harbor Park President, Don McCoy. “The water park provides unlimited fun for the whole family with a wide variety of thrilling water adventures. We’re excited for the fun summer season ahead,” he added.

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Live Music Returns to Kings Island in 2022 with Concert Series Featuring The Avett Brothers, 3 Doors Down and More Beginning June 28

Press Release from Kings Island

MASON, OH – Celebrating its 50th anniversary in 2022, Kings Island today announced the return of live music to the Timberwolf Amphitheatre this season with a concert series lineup including The Avett Brothers, Berlin & A Flock Of Seagulls, 3 Doors Down with special guest Candlebox, Skillet with special guest Jordan St. Cyr and Five for Fighting with special guest The Verve Pipe.

The 2022 Kings Island Concert Series at Timberwolf Amphitheatre presented by Platform Beer Company marks the most summer concerts at Timberwolf since 1995. For the first time, Kings Island will not require concert goers to also purchase admission to the amusement park. Concert tickets will be available to the general public and will include free parking after 5 p.m. and an exclusive entrance to Timberwolf before each show begins.

“Since Timberwolf opened in 1982, some of the most popular performers of our time have taken its stage,” said Mike Koontz, Kings Island vice president and general manager. “We are excited to bring that tradition back to Kings Island this
summer.

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Canada’s Wonderland announces exciting festival and event lineup ahead of opening day April 30

Press Release from Canada’s Wonderland

VAUGHAN, ON (April 4, 2022) – Canada’s Wonderland opens this month and today it released the full lineup of exciting events and entertainment returning for the 2022 season. The park opens to the public on April 30 and this summer it will feature seven festivals, including three new food festivals – Portugal, Ireland and The Caribbean – plus the return of long weekend fireworks. The seasons of fun continue through fall and winter with Camp Spooky, Halloween Haunt and WinterFest. “We’re really pleased to be able to provide our guests with a full season of fun once again,” said Norm Pirtovshek, general manager. “With more than 200 attractions at the park, we’re known for thrills, but the return of our summer events really enriches the park experience, offering something for guests of all ages through spring, summer, fall and winter.”

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