Is The Fun Out of Cedar Fair?
After struggling through a difficult transition year, Cedar Fair, L.P. (FUN), owners of 18 amusement parks across the US and Canada, face an unclear future in 2008. The stock, with its flagship park Cedar Point in its headquarters of Sandusky, Ohio, has grown over the last couple of decades by purchasing such parks as ValleyFair amusement park years ago, but last year bit off a big acquisition when it purchased the Paramount Parks’ portfolio, which includes Kings Island in Cincinnati and a group of parks in the southern US. The strategy was to offset the difficult market for Cedar Point,…