SeaWorld Makes $3.4 Billion Takeover Bid for Cedar Fair

[UniversalRBLX]

Just because its a "cash offer" of $3.5B, it doesn't mean SeaWorld has that amount sitting in a bank somewhere.

If they had that amount of cash available, it would be going straight into the parks.

 

[GAcoaster]

Here's a good analysis of the situation: SeaWorld's $3.4 Billion Offer for Cedar Fair Is a Win-Win Deal | The Motley Fool

 

[Mad Dog]

The irony if this happens. Apx. 30 years, or so, ago....in the little Ohio town Geauga Lake, there were two parks, one on each side of the lake. The one park was Sea World, which would close down in a few years. The second was a small amusement park that was bought by Six Flags and sold again to Cedar Point, and closed down fairly soon after the acquisition.....A strange twist.

 

[Parkscope Joe]

SeaWorld has been running their parks into the ground, can't keep stable leadership, and is so weirdly mismanaged someone created a "SeaWorld Work Order" Twitter account. Sure they throw you some coaster but they also closed tons of other rides without replacement. I don't want them within a six-foot radius of CF.

 

[SkiBum]

SeaWorld has been running their parks into the ground, can't keep stable leadership, and is so weirdly mismanaged someone created a "SeaWorld Work Order" Twitter account. Sure they throw you some coaster but they also closed tons of other rides without replacement. I don't want them within a six-foot radius of SF.

Yes, completely, with the exception that I don't want them within a six-foot radius of CF. They can do what they want to Six Flags (SF). It seems like their management is always searching for the next person or a new identity. Also, I don't think that they are good enough to run that many parks, especially since the CF parks are very different due to seasonality and guest expectations. Plus, I'm scared of SEAS due to Paramount's wrecking of the parks when they owned them.

 

[SkiBum]

The irony if this happens. Apx. 30 years, or so, ago....in the little Ohio town Geauga Lake, there were two parks, one on each side of the lake. The one park was Sea World, which would close down in a few years. The second was a small amusement park that was bought by Six Flags and sold again to Cedar Point, and closed down fairly soon after the acquisition.....A strange twist.

I went to Sea World in Aurora a number of times. It was a nice park, family friendly, and I really enjoyed the animal shows. I loved Shamu, the dolphins, and all of them but really enjoyed the Clyde and Seamore show. Heck, I remember watching the water skiing show on the lake and enjoying it. When it closed, I was pretty sad. I didn't get to Geauga Lake until after Six Flags had purchased it, although I would stare across the lake longingly. When I did go, it was Six Flags World of Adventure and it was trashy. I was comparing it to Cedar Point (hit both parks in one trip although I had been going to the Point every year for two decades) and there was no comparison. Cedar Point had fast and friendly ride operations and was clean. Six Flags was the opposite in every way.

 

[Mad Dog]

I went to Sea World in Aurora a number of times. It was a nice park, family friendly, and I really enjoyed the animal shows. I loved Shamu, the dolphins, and all of them but really enjoyed the Clyde and Seamore show. Heck, I remember watching the water skiing show on the lake and enjoying it. When it closed, I was pretty sad. I didn't get to Geauga Lake until after Six Flags had purchased it, although I would stare across the lake longingly. When I did go, it was Six Flags World of Adventure and it was trashy. I was comparing it to Cedar Point (hit both parks in one trip although I had been going to the Point every year for two decades) and there was no comparison. Cedar Point had fast and friendly ride operations and was clean. Six Flags was the opposite in every way.

Yes, I agree on Geauga Lake being a trashy park. I drove up there once or twice nearly every summer for thirty years, so I was present for just about every incarnation, though I would say the first two years with Six Flags it was probably the cleanest and the best attraction years. But it went back downhill pretty quick. Sea World though was a vey clean park, but I'm not into those kinds of parks so I didn't go there much. Going to Geauga Lake after attending my neighborhood Kennywood Park was night and day. On our Geauga Lake trips we would jokingly comment that 'we were slumming it'. The only way Geauga Lake could look good is if someone had a huge dose of childhood nostalgia to cloud their memories......and comparing Geauga Lake to Cedar Point or Kings Island would be like a street carnival to an amusement park.

 

[Parkscope Joe]

Yes, completely, with the exception that I don't want them within a six-foot radius of CF. They can do what they want to Six Flags (SF). It seems like their management is always searching for the next person or a new identity. Also, I don't think that they are good enough to run that many parks, especially since the CF parks are very different due to seasonality and guest expectations. Plus, I'm scared of SEAS due to Paramount's wrecking of the parks when they owned them.

ooops I meant CF LOL

 

[Disneyhead]

It will be good to have all the mid-tier parks under one brand. Having BGT/SWO lumped into CP/KI/KD/BGW top tier passes will help fluff Orlando's numbers.

 

[SkiBum]

It will be good to have all the mid-tier parks under one brand. Having BGT/SWO lumped into CP/KI/KD/BGW top tier passes will help fluff Orlando's numbers.

So close to blocking you for this. Or not. Anyway, my main concern is that I just think that SEAS would be spread way too thin to allow for the capital expenditures that we like to see in the parks. While I think that SEAS could do good things for CF, I can also see this backfiring and dragging the CF parks down with SEAS.

 

[GAcoaster]

I get people are loyal to their home parks, but I've been to Cedar Fair parks and SeaWorld parks and I've always found the SeaWorld parks a step above the Cedar Fair properties in most respects.

 

[Moose84]

It’s amazing to see people complain about SeaWorld taking over cedar fair and say SeaWorld will drag them down. I’m more concerned with cedar fair draining SeaWorld. I’ve been to there flagships(parks) of both minus wonderland in Canada over the last 5 years and if you believe CF is above SEAS your not concerned with the park overall, operational, shows, food, and balance. yet more worried about coasters. Don’t say “well SeaWorld added thrill rides so…” what a joke they continue to update parades, shows, and events(big thing) to keep balance. In fact my only complaint would be a lack of dark rides and less thrilling attractions for families, which I’m slightly holding hope these are coming. The CF acquisition makes me more worried for SeaWorld’s parks remaining more family friendly and evolving. CF hangs on its thrill rides mostly and don’t play the events card as hell knotts scary farms(the OG) is slow to try and improve or update its elements, let’s face it adding flashlights and turning off the actual lights is not an upgrade but a budget cut done cleverly. I do like Knotts offering and CP on occasion but even as a Platinum pass holder for SeaWorld, who could have more parks to option with CF, as SeaWorld I’d rather pay more to have them focus on there parks than enjoy the other parks offering coasters, coaster, and coaster, but wait here is an event with meh food and the same stuff as yesteryear. Give me SeaWorld events, better food events, operational standards, animal enjoyment/education, thrill rides, and (fingers crossed) more family rides for the future. I’m sorry maybe some don’t agree but having been to the parks recently SeaWorld is the higher standard and hell with the pandemic SeaWorlds food events(even some seasonal events) are surpassing that of Disney recently, and yes I’ve also been to both Disneyland and Disneyworld in within the last 5years as well. My opinion but had to say.

Oh and by the way for the Florida locals who don’t know the best SEAS rollercoaster is actually in San Antonio as their Texas Stingray is absolutely pure awesomeness. Iron Gwazi may change this but for now the Texas Stingray blew me away, unrelenting yet so smooooootthhh!!!

 

[shiekra38]

I get people are loyal to their home parks, but I've been to Cedar Fair parks and SeaWorld parks and I've always found the SeaWorld parks a step above the Cedar Fair properties in most respects.

Yes, I went to Kings Dominion and then BGW on a trip

I hadn't been to either in many years and wow, night and day

I've always said:

Six Flags Parks feels like I'm getting less than I paid for
Cedar Fair Parks feels like I'm getting exactly what I paid for
Sea World Parks feel like I'm getting more than I paid for

We have gripes and complaints about BGT and SWO...but they're my home parks and I grew up with them

I notice when the smallest of signs needs to be repainted lol

They are still a step above the rest

Which leads me to be nervous about this acquisition

However, I doubt we would notice it about as much as we notice Merlin owning Legoland and Alton Towers


I feel like some people are elated because they think they're going to start building Gigas in every park tomorrow

Some people are concerned because they think they're going to tear down Maverick and put in dolphins

Both are misguided

 

[Freak]

Let's not forget that Six Flags offered $4 billion to purchase CF. Here, they would be getting $600 million less. When you factor in that and rising inflation, that sounds like a rotten deal.

I don't see it happening.

 

[DeadSexeh]

It’s amazing to see people complain about SeaWorld taking over cedar fair and say SeaWorld will drag them down. I’m more concerned with cedar fair draining SeaWorld. I’ve been to there flagships(parks) of both minus wonderland in Canada over the last 5 years and if you believe CF is above SEAS your not concerned with the park overall, operational, shows, food, and balance. yet more worried about coasters. Don’t say “well SeaWorld added thrill rides so…” what a joke they continue to update parades, shows, and events(big thing) to keep balance.

So much to unpack here. Some parks would improve while others would suffer. Cedar Point, Kings island, Carowinds, Wonderland, or Knotts you will probably get worse additions. All other parks will probably see some kind of improvement (great America only one not sure if it would be an improvement or not).

On operations, yes sea world did better handling pandemic operations. Now I disagree with operations being better at sea world otherwise. Go through a sea world park (Busch gardens parks being the worst offender) then go to cedar fair parks and count how many rides or buildings are standing but not operating. Also when it comes to operations look at Orion vs sea world COVID coaster opening dates. People also love the fast lane system. Also all season food and fast lane items would probably disappear which have their fans.

When you look at new big additions, Cedar Fair has done more in the light theme and making area nicer (railblazer, copperhead strike, Yukon striker, Orion, ect) versus New sea world additions basically being let's just plop down a ride here (pantheon, Tigris, ice breaker, Texas Stingray, ect). When it comes to updating and theme these two companies seem to be moving in opposite directions.

When it comes to events Cedar fair has greatly improved their offerings. Your Halloween events are pretty even, CF Christmas event has impressive atmosphere and great for families. Cedar Point and Knotts have other quality events. I have also heard great things about the traveling grand Carnevale event. Sea world is probably better overall with event but cedar fair is stepping up their game.

Sea world, yeah they got better food and shows. My point is one chain isn't way better than the other. They each could provide things that would help the other chain but there are possible aspects that could be hurt on both chains.

 

[Scott W.]

Let's not forget that Six Flags offered $4 billion to purchase CF. Here, they would be getting $600 million less. When you factor in that and rising inflation, that sounds like a rotten deal.

I don't see it happening.

That was pre pandemic.

The world is a different place.

 

[Parkscope Joe]

I get people are loyal to their home parks, but I've been to Cedar Fair parks and SeaWorld parks and I've always found the SeaWorld parks a step above the Cedar Fair properties in most respects.

I have complained about CF, and CP, mismanagement before. The amount of attractions they've removed for food venues, when they can't run the current ones at full capacity, is insane. They totally messed up their 2020 and 2021 operations and let dollars fly over their heads to pick up pennies.

But I would take CF daily operations, maintenance, and management over SW any day of the week plush Schmursdays. Rides are open, updates are made, and things are moving forward. SW stops, starts, and resets every few years to varying degrees of success.

SeaWorld Orlando messed up so badly their highly touted E-Ticket dark ride is now permanently closed because they didn't plug in the batteries during the shutdown. With that level of mess maybe I'm not the one who's loyal to their home parks (which is for me, Kennywood).

 

[GAcoaster]

Here's another good analysis from CNBC: SeaWorld's bid for Cedar Fair 'makes sense,' but it may have to pay more

This merger/buyout really makes sense, and I think it will happen with some slight changes to terms/amounts offered. I'm guessing they'll throw in some stock.

 

[OrlandoGuy]

I have complained about CF, and CP, mismanagement before. The amount of attractions they've removed for food venues, when they can't run the current ones at full capacity, is insane. They totally messed up their 2020 and 2021 operations and let dollars fly over their heads to pick up pennies.

But I would take CF daily operations, maintenance, and management over SW any day of the week plush Schmursdays. Rides are open, updates are made, and things are moving forward. SW stops, starts, and resets every few years to varying degrees of success.

SeaWorld Orlando messed up so badly their highly touted E-Ticket dark ride is now permanently closed because they didn't plug in the batteries during the shutdown. With that level of mess maybe I'm not the one who's loyal to their home parks (which is for me, Kennywood).

Part of a takeover bid means acquiring non-capital assets too. I’m sure SeaWorld recognizes their bad management and sees Cedar Fair as an opportunity to bring in better talent for operations.

You guys are getting confused thinking SeaWorld making the bid=SeaWorld cleaning house. That’s rarely how acquisitions work. Most times there’s mutual benefit in a bid, and Cedar Fair actually brings a lot of benefit to SeaWorld. SeaWorld just happens to be more liquid right now, so they make the bid, but a lot of the superior talent on the CF side will survive and exist to make the SW parks better too.

 

[GAcoaster]

Yes, I went to Kings Dominion and then BGW on a trip

I hadn't been to either in many years and wow, night and day

I've always said:

Six Flags Parks feels like I'm getting less than I paid for
Cedar Fair Parks feels like I'm getting exactly what I paid for
Sea World Parks feel like I'm getting more than I paid for

I really like Kings Dominion- beautiful park, great rides. If you visit AFTER Busch Gardens Williamsburg it feel like a let down. If you visit BEFORE Busch Gardens, it's a great park. I've done it with several people who aren't necessarily "park people" and it's always the same reaction. When I lived in NJ I had both KD and BG passes and I learned you always have to go to KD first.

That CNBC article really got me thinking when they mentioned the undeveloped land at the CF parks. With SeaWorld's ambitions to open more Sesame Place parks I could see Kings Dominion adding one in their parking lot/undeveloped area and creating another attraction to bring people to the park. I'm not as familiar with their other parks, but I could see their geographic areas making them candidates for Sesame Place additions as well.