Archive for April, 2010

Education to play central role at the16th Dubai Entertainment, Amusement and Leisure expo

Monday, April 12th, 2010 | Permalink

The Dubai Entertainment, Amusement and Leisure (DEAL) expo will offer its most comprehensive educational programme ever, playing host once again to the World Water Park Association’s Middle East Symposium from April 24 to 25.

This year’s DEAL will also see the first ever international edition of the Foundations Entertainment University – organized and presented by Trade Shows International on behalf of the Amusement & Leisure Equipment Suppliers of the UK (ALES-UK).

“We are proud to present, for the first time ever outside the ISA, a special edition of the highly acclaimed Foundations Entertainment University,” said Gerry Robinson, Secretary of ALES-UK, and also that Alain Baldacci, President, SINDEPAT (Sindicato Nacional de Parues e Atracoes Turisticas of Brazil) has consented to Chair the proceedings.

“This course has been running for over seven years and is regarded as being the most influential presentation for those starting or involved in the family entertainment sector. It is a ‘must attend’ event.”

DEAL will also include a seminar on New Bowling Investment, also presented by the president of the Bowling & Billiards Division of Brunswick.

“We are very excited that this year’s DEAL will boast an even stronger educational programme. Having industry recognized seminars such as the Foundations Entertainment University coming to Dubai is testament to the growing importance of the entertainment industry here in the region,” said Abdul Rehman Falaknaz, President of IEC.

DEAL 2010 will take place April 25-27 at Dubai World Trade Centre (DWTC) extension.

Those interested in exhibiting or visiting the event can now register for the show and seminars online at www.themeparksdubai.com

Online registration for visitors will speed up the entry process, enabling visitors to make the most of their valuable time at the show.

Substantial industry support for DEAL is given by the Amusement Industry Council of Europe, including Association Fabricantes Y Exp. Maquinas de la Foia de Bunyol (Spain) Associazone Nazionale Costruttori Attrezzature, Spettcoli Viaggianti (Italy); Amusement & Leisure Equipment Suppliers of the UK; American Amusement Manufacturers Association); International Association for the Leisure & Entertainment Industries; India Association of Amusement Parks & Industries; and the World Water Park Association.

DEAL is organized by International Expo-Consultants LLC (IEC), an internationally recognized trade show management company with an impressive track record of over a decade of operations in the Middle East and Asia Pacific region.

IEC excels at creating high profile, highly focused business exhibitions and expositions, which serve as effective business interfaces for buyers and suppliers from around the world. For more information, visit www.iecdubai.com.

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Theme Parks: Cedar Fair & Affiliates of Apollo Global Management Mutually Terminate Merger Agreement

Monday, April 12th, 2010 | Permalink

Cedar Fair Entertainment Company (the “Company”) (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that it and affiliates of Apollo Global Management, a leading global alternative asset manager, have mutually agreed to terminate the previously announced definitive merger agreement.

Consistent with the terms of the agreement, Cedar Fair will pay Apollo $6.5 million to reimburse Apollo for certain expenses incurred in connection with the transaction. In addition, both parties will release each other from all obligations with respect to the proposed merger transaction as well as from any claims arising out of or relating to the merger agreement.

As a result of the termination of the merger agreement, the Special Meeting of Unitholders to be held on April 8, 2010 has been cancelled. The Company will hold its 2010 Annual Meeting of Unitholders on Monday, June 7, 2010, for unitholders of record as of April 23, 2010.

Dick Kinzel, chairman, president and chief executive officer of the Company, said, “The Board has heard from Cedar Fair unitholders and it is apparent that the merger transaction does not have the required level of investor support. We are honored and excited by the opportunity to continue to manage and operate Cedar Fair as a public company and to provide our guests with an outstanding experience.

Company Adopts Unitholder Rights Plan

“Our 2010 operating season is upon us, and we have already introduced major new attractions at two of our parks. Intimidator305, a 305-foot-tall roller coaster at Kings Dominion, and Intimidator, a 232-foot-tall roller coaster at Carowinds, both had very successful opening days. We hope to continue this momentum across the rest of our properties and throughout the operating season. As we execute on our business objectives, we will also be evaluating next steps to address our capital structure. The Board and management team remain committed to acting in the best interests of all Cedar Fair unitholders. We appreciate the feedback that we have received from unitholders as well as Apollo’s interest in Cedar Fair and their cooperation and professionalism throughout the process.”

In order to allow adequate time to evaluate all options, a unitholder rights plan (the “Rights Plan”) has been adopted. The Rights Plan is designed to enable all unitholders to realize the long-term value of their investment in the Company and to ensure that all unitholders receive fair and equal treatment in the event of any hostile attempt to gain control of the Company. The Rights Plan is not designed to prevent transactions that treat all Cedar Fair unitholders fairly.

Under the plan, the rights will initially trade together with the Company’s units and will not be exercisable. The rights will generally become exercisable after a person or group becomes a beneficial owner of 20% or more of the Company’s units. The rights will expire on April 5, 2013, unless earlier redeemed, exchanged, or amended.

The Rights Plan was not adopted in response to any specific effort to acquire control of the Company, but as an appropriate preventative measure to ensure all unitholders are protected while the board of directors considers next steps. A copy of the merger termination agreement and the Rights Plan have been filed with the Securities and Exchange Commission and can also be found on the Company’s website at www.cedarfair.com/ir/financial/sec.

About Cedar Fair

Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Amusement parks in the Company’s northern region include two in Ohio: Cedar Point, consistently voted “Best Amusement Park in the World” in Amusement Today polls and Kings Island; as well as Canada’s Wonderland, near Toronto; Dorney Park, PA; Valleyfair, MN; and Michigan’s Adventure, MI. In the southern region are Kings Dominion, VA; Carowinds, NC; and Worlds of Fun, MO. Western parks in California include: Knott’s Berry Farm; California’s Great America; and Gilroy Gardens, which is managed under contract.

This news release and prior news releases are available online at www.cedarfair.com.

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Amusement parks: Holiday World adds to Directors Staff

Monday, April 12th, 2010 | Permalink

Holiday World & Splashin’ Safari President Will Koch announces the appointment of 3 new directors to the parks’ staff, as two new positions are created.

The two new director-level positions are Director of Information Systems and Technology and Director of Training and Development.

As Director of Information Systems and Technology, Joseph P. Hurst (right) oversees the parks’ computer systems, data storage, sound systems, phone systems, servers, camera systems, network cabling and fiber optics. Hurst began his career at Holiday World seasonally in 1990 and was hired full-time in 1996. He is a graduate of Forest Park High School in Ferdinand and the University of Southern Indiana in Evansville, where he earned a Bachelor of Science degree in Industrial Supervision. Hurst resides in Princeton, Indiana, with his wife, Lana, and their daughter, Katherine.

Samantha Ramsey (left) is the parks’ new Director of Training and Development. Her duties include planning and implementing Orientation and Hospitality Training for Holiday World & Splashin’ Safari’s 2,100 seasonal employees. She also heads up seasonal management training and keeps the operations departments fully staffed throughout the season. Ramsey began her career at the park seasonally in 1997 and was hired full-time in 2005; she was named Director of Cleaning in 2007. Ramsey is a graduate of Tell City High School and Oakland City University, where she earned an Associate’s Degree in Business Administration and a Bachelor’s Degree in Human Resource Management. She and her husband, Chad, live in Tell City.

Replacing Ramsey as Director of Cleaning is Cathy Greubel,(right) who has worked seasonally at the park since 2005. She is responsible for a staff of 140 seasonal employees who scrub the parks down early each morning before opening, keep the parks free of litter while open, and clean restrooms and dining area continuous throughout each day. Greubel, who is a graduate of Tell City High School, lives in Tell City with her husband, Gary; they have two children and one grandson.

Holiday World’s 64th season begins May 1; the premiere of the World’s Longest Water Coaster, Wildebeest, is May 14, Splashin’ Safari’s opening day. For more information, visit the park’s website at www.HolidayWorld.com or call 1-877-Go-Family.

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