Report: SeaWorld makes $3.4 billion offer to buy Cedar Fair

[Dead2009]

https://www.****************.com/report-seaworld-makes-3-4-billion-offer-to-buy-cedar-fair/
SeaWorld Entertainment is offering $3.4 billion to acquire the Cedar Fair chain, according to a report from Bloomberg.

The Bloomberg story said SeaWorld’s bid was set at $60 per unit. Cedar Fair’s stock price has fluctuated between $39 and $55 over the past year. The report was based on anonymous sources who said the companies are “working with advisers on the proposal.”

According to stock market analysis site Seeking Alpha, SeaWorld is the larger of the two companies in terms of employees (6,400 vs. Cedar Fair’s 2,700) and market capitalization ($4.5 billion vs. $2.75 billion).

Prior to the pandemic, Cedar Fair parks had higher attendance, with an estimated 27.9 million guests visiting Cedar Fair parks in 2019, compared to 22.6 million for SeaWorld. SeaWorld Orlando and Busch Gardens Tampa Bay each individually attracted more guests than any Cedar Fair park — though those two parks are open year-round, unlike every park in the Cedar Fair chain besides Knott’s Berry Farm.

The two chains do compete with each other in certain regional markets, with Cedar Fair’s Kings Dominion and SeaWorld’s Busch Gardens Williamsburg separated by a roughly 70-mile drive. Dorney Park and Sesame Place are about the same distance, but the latter is geared more towards small children. Knott’s Berry Farm and SeaWorld San Diego are separated by a 97-mile drive.

However, the two do not share many other large markets — SeaWorld, for example, has no presence in Cedar Fair’s home state of Ohio, and Cedar Fair in turn doesn’t operate any park in Florida.

News of the potential sale led to shares of Cedar Fair being halted for trading early Tuesday.

 

[BorderTenny]

I shudder to think what the price of their Platinum Pass would spike to if this goes through.

 

[Yoshi]

That’s my concern as well. I wouldn’t want to pay more for a Platinum Pass for access to the Cedar Fair parks that I rarely get to.

This would be good for people with a neglected Cedar Fair park for their local amusement park. SEAS seems to add new rides and attractions to their parks on a regular basis. My former local park was Dorney Park and it sometimes goes without a new ride for years and the latest coaster addition that is still operating at the park was added in 2008.

 

[Jrb1979]

That’s my concern as well. I wouldn’t want to pay more for a Platinum Pass for access to the Cedar Fair parks that I rarely get to.

This would be good for people with a neglected Cedar Fair park for their local amusement park. SEAS seems to add new rides and attractions to their parks on a regular basis. My former local park was Dorney Park and it sometimes goes without a new ride for years and the latest coaster addition that is still operating at the park was added in 2008.

I have no issue paying more for a platinum pass. My home park is Canada's Wonderland. Normally I visit Cedar Point 4 to 5 times a season on top of my home park visits.

It makes no sense to buy a platinum pass if you're only visiting your local park. Do they not have a regular season pass that costs less.

 

[Yoshi]

For Sea World/Busch Gardens two of the lower level passes with parking included and the cost of water parks added in cost more than the Platinum Pass. I needed a pass for Sea World Orlando, Aquatica, Busch Gardens Tampa and Adventure Island. There are a lot Platinum Pass only benefits like a free single ride Quick Queue each visit, 6 free tickets (lower levels get less tickets), extra free bonus tickets, 50% off merchandise and Quick Queue etc.

For Cedar Fair I had a Dorney only gold pass since I rarely traveled to other parks in the chain even when I lived in PA.

 

[Jrb1979]

For Sea World/Busch Gardens two of the lower level passes with parking included and the cost of water parks added in cost more than the Platinum Pass. I needed a pass for Sea World Orlando, Aquatica, Busch Gardens Tampa and Adventure Island. There are a lot Platinum Pass only benefits like a free single ride Quick Queue each visit, 6 free tickets (lower levels get less tickets), extra free bonus tickets, 50% off merchandise and Quick Queue etc.

For Cedar Fair I had a Dorney only gold pass since I rarely traveled to other parks in the chain even when I lived in PA.

That's a shame as Cedar Fair has some great parks in their chain.

 

[Yoshi]

Yeah some of the parks are really good. I have also been to Kings Island, Cedar Point, Knott’s and Kings Dominion (and Canada’s Wonderland when it was owned by Paramount in the 90s) but those trips were spread out over the years and only 1 trip to each park.

 

[old lady]

I am for it.

 

[Jrb1979]

Yeah some of the parks are really good. I have also been to Kings Island, Cedar Point, Knott’s and Kings Dominion (and Canada’s Wonderland when it was owned by Paramount in the 90s) but those trips were spread out over the years and only 1 trip to each park.

Hearing things like that fascinate me. Normally each summer I visit multiple Cedar Fair parks with my platinum pass. Then again a few years ago I visited 11 different parks over the year.

 

[hhisc16]

Does Cedar Fair own Carowinds?
I think it was bought in the Paramount deal years ago...

 

[Jrb1979]

Does Cedar Fair own Carowinds?
I think it was bought in the Paramount deal years ago...

Yes they do. It's a park I have been wanting to visit for awhile.

 

[hhisc16]

Yes they do. It's a park I have been wanting to visit for awhile.

Carowinds is a 3 hour drive for us, but I have been many times over the years.
It is a neat park on the border of SC and NC. It is cool to walk across the state line in the middle of the park!
It will be interesting to see what Sea World does with a local/regional park like this...

 

[kathy884]

Wow! Cedar Point in Sandusky, OH and SeaWorld in Orlando are my two favorite parks.

We've been trying to arrange an extended family get-together in Sandusky, OH -- used to go every year. With so many SeaWorld Platinum passholder in the family this might be just the ticket to make that happen for us. We're all meeting in Orlando in March and going to SeaWorld this year.

Both park families have a super family friendly laid back vibe. Very interesting news to me. Thanks for sharing.