Derek Potter

Published: July 31, 2007 at 9:20 PM

The twist to the story now is that Destiny Capital released a reply that effectively really we've been talking to them. Something doesn't add up here. It's like Cedar Fair to play around with ride announcements, and to tease things like the Paramount purchase, but to issue a public statement with a flat out denial isn't like them...normally they would be quiet about such rumors. Either the NY Post is practicing some crappy journalism (which isn't out of the question), or Cedar Fair is trying to keep things quiet. If that is the case, than Destiny Capital isn't keeping up their end of that deal. Cedar Fair's second quarter conference call was today, perhaps that was a reason for the denial.

Cedar Fair just had their conference call, and profit is up for the company. Attendance is down, but operating costs are down, and guest spending is up enough to cover the decrease, which was reportedly due at least in part to a reduction in the number of operating days. In plain speak, Cedar Fair is so far still turning a profit despite the heavy burden of debt they've shouldered.