Cedar Fair's 2013 broke records, Cedar Point adds for 2014

Ouimet reports full-year net revenues of $1.135 billion, up 6 percent
Register
Feb 20, 2014

 

Matt Ouimet, Cedar Fair's president and chief executive said the company is on track for keeping on a record pace. 

"It was a remarkable year for Cedar Fair and we expect this momentum to continue into 2014," he said. "Our long-term FUNforward strategy is working well as we experienced solid increases across all aspects of our business this year, including record attendance and in-park guest per capita spending."

Cedar Point announces additional fun for 2014, including SlingShot ride

Cedar Fair executives remain confident in the company's ability to meet its long-term growth goal of $450 million in Adjusted EBITDA, a cash flow estimate, earlier than its original target of 2016.  

The company will host a conference call with analysts at 10 a.m. today, which will be web cast live in "listen only" mode via the Cedar Fair web site (www.cedarfair.com). It will also be available for replay starting at approximately 1:00 p.m. today, until 11:59 p.m. March 6.

In order to access the replay of the earnings call, please dial 1-877-870-5176 followed by the access code 4662256.

Comments

Bogtrotter

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Babo

How large a retainer does the billion dollar gorilla provide to Murray and Murray? Maybe Commissioner Murray ought to disclose that conflict of interest.

reader

The proposed budget fails to address the need for more revenue.

local man

When it comes to admissions tax, how about the Sandusky Register research what the other communities that have a Cedar Fair Amusement Park in their town charge for their admissions tax rate. With our park being the largest they should be able to incur at least a comparable admission fee of their sister parks.

Bogtrotter

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The Bizness

KINGS ISLAND ISN'T IN CINCINNATI, NOR IS IT IN THE SAME COUNTY!

Nor'easter

ORLANDO 8% LAS VEGAS 10% WILLIAMSBURG 8%

reader

How does the commission plan to maintain our streets?

IT'S ME

Other than Cedar Point & Castaway Bay, who else collects admission tax in Sandusky?

Nor'easter

ADMISSIONS TAX IS COLLECTED ON COVER CHARGES, ADMISSIONS TO EVENTS, THEATERS, BANDS, ETC. Predominantly this impacts tourists that use our roads, water, sewer, police, fire, ems and related services that the local taxpayers are burdened with the job of paying taxes to meet these needs. We have spent over $100,000,000.00 to provide these services for highways alone over the years to get tourists to Cedar Point. Time for the tourists to pay to pave the rest of the city. Thopre Dirve was paved by developer in 1957, Alpine Drive in 1960's, Kalr-Ann Dr , Larchmont Drives, Oaklmont, Roosevelt, Wamajo, Dixon Dr, Judy Dr, Ferndale, Bauer Ave, Adrian Circle, Aspen Run in 1970's have not been repaved since development and many need patching NOW! RAISE THE ADMISSIONS TAX TO 8% AND CALL THE PAVING COMPANIES.

reader

I suppose they'll pass out shovels and bags of cold patch asphalt so we can adopt and patch our own potholes.

We wouldn't want the tourists to get jarred as they pass through on their way to the park.

T. A. Schwanger

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Go to the City of Sandusky's web-page and search under City Commission "Codified Ordinances" CHAPTER 195 Admissions Tax to have all your Amusement Admissions Tax questions answered including exemptions.

"""The tax levied by this chapter shall not be applicable to an admission charge to an event for which the net proceeds, if any, are to be used exclusively for charitable, eleemosynary, educational, cultural, civic, community improvement, or religious purposes""".

reader

Tim, any interest in a citizen initiative to place an admission tax increase on the ballot?

T. A. Schwanger

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Let's wait and see which direction the elected officials take.

There are many in the community who believe Sandusky does not have a revenue problem. We have a spending problem. Therefore, any increase in the Income Tax or Amusement Admissions tax would give elected officials a green light to continue on a spending binge for pet projects.

The Bizness

I see zero "pet projects" going on in the city right now. That is not necessarily a good thing either.

T. A. Schwanger

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@the bizness

Relocating the place you call a dump, City Hall, is a pet project at a time when there are efforts to reduce services across the board including police and fire. See my Readers' Forum in Thursday's Sandusky Register.

The Bizness

First of all I never said it 100% must be relocated. As others have said you could tear it down and rebuild on the same site.

Secondly, the place is a dump, and it is necessary to build new rather than dump more and more money into a building that continually costs more and more to run.

reader

You mean like repairing our streets and staffing our safety forces?

reader

I don't see any pet projects either. The city recently turned down either a grant or a low or no interest loan to repaved Caldwell Street by the Post Office because we don't have the money for our share of the project. And that street is in terrible shape.

phroggy

Try Pipe Street in the near future. Canfield-Hartley a.k.a. FSI should be partly responsible for repaving. It's easily the worst street in the city right now.

Dr. Information

First off Disney is 100x bigger than Cedar Point. Vegas, not even the same type of entertainment.

What happens if you raise the tax and the city still comes up short, which will happen in no time, mark my word. Keep raising the admissions tax until you get a broken amusement park with hardly anyone going because they cannot afford it.

Typical liberal mindset. There are no problems within the city and its budget, lets just raise taxes and ignore the real issues.

Comrade Boose

No one is asking them to foot the bill just pay their fair share. If they pay no sales tax on admissions then 3% admission tax is a steal.

Bogtrotter

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Nor'easter

$1300.00 dollars a year for suspension repairs a year for 2 cars. ENOUGH ALREADY!!!!!!

IrishEyes

"Keep raising the admissions tax until you get a broken amusement park with hardly anyone going because they cannot afford it."

This is never going to happen. All through the current "recession," while people are losing their jobs and their houses and gas prices are going sky high, there's always a steady stream of cars heading to CP. The park's target visitors are no longer dad-mom-and-the-kids. The majority of the people who go there are 18-30, mainly from out of town, who seemingly have money to burn. Raising ticket prices isn't going to bother them one bit.

Babo

The Admissions Tax is paid by the tourist on the price of the ticket paid. There is no sales tax on ticket prices. Thus, people are accustomed to paying at least 7% on sales of items and a tourist isn't going to quibble over paying 8% tax the maximum allowed by law.

The only reason Cedar Point would object to an increased admissions tax is revealed in the article. There may be a couple of dollars less to spend in the park on food, souvenirs etc.

In any event, the admissions tax costs Cedar Point nothing. Further most people already expect to pay sales tax of at least 7% so why not raise the tax to 8% and reduce the income tax to 0.5%?

Use the additional revenues to improve traffic flow, street conditions and sidewalk and street landscaping/lighting. Also promote the reduced income tax as a reason for residents with jobs and new businesses to relocate to the City.

Raise the income tax and all you do is drive business and income earning people to lower taxed areas.

Nor'easter

If the city were to raise the admissions tax to 8%, the additional funds need to be restricted to only be used to rebuild and repair streets. Sandusky can insulate and update City Hall ONLY AFTER WE HAVE PAVED STREET AGAIN!