Cedar Fair Theme Park Attendance Worse Than Expected as Q2 Revenue Evaporates
Cedar Fair (NYSE: FUN) reported second-quarter earnings this morning that showed attendance at their reopened amusement park venues was lower than expected.
All of its parks were shut down in March as the COVID-19 outbreak spread, but it began reopening some of them late in the quarter as it was able. Instead of the 827 operating days across its parks it expected, or even the 726 days it had last year, Cedar Fair had just 39 operating days. Attendance plummeted by 8 million visitors as people did not show up in the numbers it anticipated.
The theme park operator suggested the timing of its reopenings coincided with a rise in COVID-19 cases, leading people to avoid coming out.
Source Fool.com
