Le Lézard
Classified in: Covid-19 virus
Subject: Product/Service

Cedar Fair Announces Exciting Capital Plans for 2023 Operating Season

Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today unveiled exciting plans for the 2023 operating season across multiple properties in the U.S. and Canada. These include new themed areas at Carowinds in North Carolina and Cedar Point in Ohio, several major upgrades at Knott's Berry Farm in southern California, and 50th anniversary celebrations at Worlds of Fun in Missouri and Carowinds. In addition, several parks will be introducing a new generation of guests to some iconic rides and attractions from the past ? such as the Wild Mouse at Cedar Point and Zambezi Zinger at Worlds of Fun -- that have been reimagined and recast for today's thrill seekers. There will be plenty of delicious new food and beverage options across the board, and park event calendars will be chock full of seasonal festivals and special celebrations that offer something fun for everyone in the family throughout 2023.

"The investments we will be making in 2023 across our park footprint are focused squarely on what matters most ? making people happy and providing our guests with a best-day experience on every visit," said Cedar Fair President and CEO Richard A. Zimmerman. "Guest satisfaction ratings at our parks this season have been among our highest ever, validating that the investments we've made to improve the guest experience are paying off. Our capital plans for 2023 are aimed at taking those experiences to a new level, whether you're a diehard coaster fan, a foodie with a taste for something unique, or a festival lover who enjoys great live entertainment."

Zimmerman said Cedar Fair's capital investments for 2023 will be the largest ever at approximately $200 million. Among the highlighted plans and developments for next season:

In addition to new rides and attractions, Cedar Fair will continue to upgrade and expand food and beverage facilities across its portfolio in 2023, with a focus on providing signature menu and beverage items that tap into consumers' cravings for unique flavors and experiences they can't find anywhere else. These capital investments also will be aimed at improving the capabilities, technologies and efficiencies of the parks' food preparation and delivery systems.

Also on tap for 2023 is a full lineup of seasonal events. The wildly popular Grand Carnivale celebration will return to a half-dozen parks next summer, including Carowinds, Dorney Park, Kings Dominion, Kings Island and Worlds of Fun. Carnivale at Orleans Place will return to California's Great America, while the Frontier Festival will be back at Cedar Point. In the fall, 10 parks will offer Halloween-themed special events such as Tricks and Treats or Halloween Haunt that are sure to appeal to those looking for some frightful family fun or a good scare. And as temperatures drop, WinterFest will return to Carowinds, California's Great America, Kings Dominion, Canada's Wonderland and Kings Island. This one-of-a-kind holiday spectacular is filled with millions of lights, enchanting themed areas, live holiday entertainment, sweet and savory treats, and a variety of additional activities for the entire family.

"Each season we introduce a full slate of immersive rides and attractions, limited-time special events, and innovative food and beverage programs," Zimmerman said. "It's clear from Cedar Fair's financial results that consumer demand remains healthy and that guests are responding well to the quality and breadth of the entertainment experience we offer. With 2023 season passes now on sale, we look forward to raising the bar even higher as we continue delivering on our commitment to make people happy."

For more information about 2023 season passes, please visit www.cedarfair.com and click on your favorite park property.

About Cedar Fair

Cedar Fair Entertainment Company (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.

Forward-Looking Statements

Some of the statements contained in this news release that are not historical in nature constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements as to the Company's expectations, beliefs, goals, and strategies regarding the future. These forward-looking statements may involve risks and uncertainties that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct, including the timing of any debt paydown or payment of partnership distributions, or that the Company's growth strategies will achieve the targeted results. Important factors, including the impacts of the COVID-19 pandemic, general economic conditions, adverse weather conditions, competition for consumer leisure time and spending, unanticipated construction delays, changes in the Company's capital investment plans and projects and other factors discussed from time to time by the Company in its reports filed with the Securities and Exchange Commission (the "SEC") could affect attendance at the Company's parks, as well as the timing of any debt paydown or payment of partnership distributions, and the Company's growth strategies, and cause actual results to differ materially from the Company's expectations or otherwise to fluctuate or decrease. Additional information on risk factors that may affect the business and financial results of the Company can be found in the Company's Annual Report on Form 10-K and in the filings of the Company made from time to time with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether a result of new information, future events, information, circumstances or otherwise that arise after the publication of this document.

This news release and prior releases are available under the News tab at http://ir.cedarfair.com.

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