Could they close the park?

^^I think Jeff's comment was warranted.

^I don't think the entire thing could be considered a Historical Landmark.

I'm more concerned about the quality of Kings Island and Cedar Point than I am that they will close down.

This is a LBO which will use a ton of borrowed money to aquire the chain. Which means Cedar Point and Kings Island will be the parks paying back that borrowed money since (and I may be wrong) those are probably their most profitable parks.

Which then means that there will be a reduction of staff, small improvements (like painting roller coasters) and possibly even scrapping some future major improvements like new roller coasters to pay it all back.

I don't like it. But then again my only concern is that platinum passes will remain at a reasonable price.

Well Kinzel did say this:

We had to make a lot of cuts during the operating season and there will be no cuts, no staffing changes as a result of this merger

So take that for what its worth.

Was he reffering to Cedar Point, all parks or HQ staff?

Prawo - there's one of the problems with this leadership. They don't seem to have ever successfully separated "corporate Cedar Fair" from "Cedar Point park".

There are bulidings on the peninsula that were at one time on the National List of Historic Places (such as Hotel Breakers) but that doesn't mean they can't be torn down (and much of the original Breakers has been...losing the hotel the "designation" which really didn't amount to anything.)

Now, all of this news doesn't mean the park is shutting down but I learned a long time ago never to say never. As a Cleveland Browns fan I don't think I ever envisioned a scenario where they Cleveland Browns would disappear and they did...for a while. (Some would say they are still MIA.)

As a boy growing up in Youngstown, Ohio I doubt my grandfather ever thought Idora Park would be gone. Saturn owners probably never anticipated that their cars would no longer be made. The people of Nashville probably never believed their theme park would be turned into an outlet mall.

Cedar Point has been around 135+ years. It isn't likely that it would go. Under what circumstance do I think it could go? Well, if Ohio ever opens up to gambling with no restriction then I would see people looking at the Cedar Point peninsula as a strong possibilty for a mega hotel/casino resort. Placing those is often complicated in the country because of the NIMBY attitude. But, a complex out on the peninsula wouldn't directly impact too many people that aren't already impacted by Cedar Point. And, a casino resort would stand to make a lot more money than a theme park operation.

A large resort hotel overlooking the lake and bay. A huge casino. Maybe a golf course. That isn't a hard idea to grasp...not that I think it is either a good idea or ever likely to happen.

From what I have seen, I wouldn't view it as a leverage buyout. I would view it as the buyout of a highly leveraged business. I understand the debt of CF now is about $1.7 billion. Apollo has secured financing commitments of $1.95 billion. So they may be leveraging the company a little further (depending on what they will do with the additional debt commitment). But issues with respect to servicing debt already exist.

But here is the key factor on a casino,keeping the minors out of there if they plan to run it during the cedar points operating season!

In my post above I'm not suggesting they would add a casino and keep the park open. I'm saying I could envision a scenario where they would close the theme park, level it, and put in an adult entertainment mecca. Maybe a mini Vegas instead of a mini WDW. Casino, resort hotel, indoor concert venue, etc.

I'm not predicting it. I'm just saying that if the opportunity presented THAT would make a lot more money than an amusement park. (Much the same way Opry Mills makes a lot more money than Opryland ever did.)

Boardwalk and Baseball is now retail and housing. Opryland is now a mega mall. Six Flags Atlantis (water park) is now a retail area. When money is involved nostalgia most often takes a back seat.

^^^

Geauga Lake was around for over 120 years and its now gone.

If there is a more profitable use for the land, anything can be gone.

That said, the CF chain is profitable and spinning off tons of cash. Admittedly most of that cash is going to repay debt, but it is a POSITIVE cash flow of well over $300m per year.

I work for the YMCA in downtown Columbus and our building was built in the 1920s and is on the national register of historic buildings and I can tell you it would be extremely difficult for any building that is on the registry to be removed so that it could be torn down. This facility has been remodled numerous times over the years but the rennovations have to be submitted and approved to the commision that runs the registry. It is a very long and difficult process and I can't imagine how much worse it would be with the opposition that surely would insue in the case of Cedar Point.

You can't build a casino there. It's written into the state constitution.

Allan Birmantas sr said:
Is part of your job as moderator is to insult people?

You should be happy that we take the trouble to visit your site.You need to learn something about public relations .(and courtesy)

Which part of people being ridiculous should I be happy about? I'd be happy if people used a little common sense now and then. Tell me, when you buy something expensive, do you buy it to throw it away?

Jeff - the constitution can always change. It'd just be another hurdle in the way of putting a casino on the point. Right now, its a pretty sizeable hurdle, but who knows in 30 or 40 years.

jwalk - couldn't the hoops also be because the YMCA wants to STAY on the register? If the company that owns a building doesn't care if it stays on the register, I don't know why they would have to go through a bunch of hoops to make modifications.

Florida is norotious for making changes to its Constitution...almost on a whim. We had a class size amendment a few years ago and now, because the State has no funding for education, they are looking to overturn it. High speed rail in the Constitution...high speed rail out. We past a Constitution amendment protecting pregnant pigs. Seriously.

I really don't expect anything but an amusement park on the peninsula for decades to come. But, I guess I'm jaded now because I wouldn't be shocked to learn it was being turned into a Hard Rock Hotel and Casino either.

As for the National Register of Historic Places...it is a nice thing but Cedar Point did not consult anyone when they built Breakers East or the Tower. They just did it and at some point when the folks who run the NRHP came out for what was likely a periodic review they found too many substantial changes and...poof...no more listing.

I doubt they ever got a, "you AREN'T on the listing anymore? I'm not staying there anymore."

Chief,

Where did you live at in Youngstown? In the city or the suburbs?

Born in Boardman but didn't live there long, myself. But, my mother and her large family is from there so I know the area. If you were in the Boy Scouts and went to Camp Stambaugh...my grandfather was the longest serving ranger there.

And oh how he loved Idora Park and was saddened by its closure.

My dad grew up in Youngstown. Still have a couple of aunts/uncles and a few cousins who live there. I can remember going to Idora a couple of times with my dad a few years before they closed it.

Cool. Grew up in Austintown, now live in Canfield. Never got to experience Idora, but obviously know a lot about the place being an amusement park aficionado. The ultimate dream would be to see that ugly warehouse coaster demolished at CP to make way for an exact replica of Idora's Wildcat. :)

Tell me, when you buy something expensive, do you buy it to throw it away?

Haven't you ever watched Pretty Woman?

They won't close the park.

They will only extend hours through the winter...