Kansas City’s Worlds of Fun and Oceans of Fun amusement parks are on the sales block, Ohio-based parent Cedar Fair Entertainment announced Monday.
The parks will open for business as usual this spring.
“It’s not a park performance concern,” said Cedar Fair spokeswoman Stacy Frole of the decision to sell. “They are great properties.
“All of our properties are profitable,” said Frole. “The company has gone through a strategic review of assets and these are the assets we’ve decided to explore the potential sale of.”
The publicly traded partnership said Monday it also was considering the sale of its California’s Great America, in Santa Clara, Cal., Valleyfair, in Shakopee, Minn., plus land it owns near Toronto and Cleveland.
The company also will slash nearly in half quarterly cash distributions to shareholders, to an annualized $1 from $1.92, said chairman, president and chief executive officer Dick Kinzel.
“In light of current economic and market conditions, reducing our debt and strengthening our balance sheet must continue to be a priority,” said Kinzel. “These actions are designed to reiterate our commitment to create long-term value for our unit holders.”
For the full statement, click here.
Hunt Midwest Enterprises Inc. built and opened Worlds of Fun in 1973 and Oceans of Fun a few years later.
Hunt sold controlling interest in the parks in 1995 to Cedar Fair for $40 million and by 2001 had sold the last of its remaining shares back to the Ohio firm.
Since taking control, Cedar Fair has invested more than $70 million in new rides and other park improvements, including the $8 million “Prowler,” a wooden roller coaster scheduled to open this spring.
Cedar Fair said it would be “premature” to speculate on the price or potential timing of any potential transaction.
The partnership owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels.













I grew up with WOF and while I would agree it is not what it used to be it is still a very nice park. Cedar Fair is in the amusement park business not the theme park business and they have done a lot to take away from WOF theming. That said WOF is a well run park that is clean and safe with quality employees. Kansas City is fortunate to have a quality park like WOF. Parks in St. Louis, Oklahoma City, Des Moines, Minneapolis, Louisville, Denver are no where as nice as WOF. Cities like Omaha, Indianapolis, Houston, Cleveland, Memphis and Nashville don't even have parks.
What confuses me about this move by Cedar Fair is with the way the economy is now, who could they possibly sell WOF to?