Palace Entertainment Parks are
Red Cross Donation Sites For Midweststorm Relief Fund
Newport Beach, CA May 22, 2013 - In light of the recent tornadoes that occurred in Oklahoma and Texas this past week, all Palace Entertainment parks will collect donations for American Red Cross Disaster Relief. Guests will be able to make donations at registers upon entering the park beginning Saturday, May 25 through Sunday, June 2. All donations will be sent directly to the Red Cross for Spring Storms 2013.
"We know people want to help and don’t always know how. This is our way to facilitate. Guests can donate as little as $1—every little bit we can collect will help the victims in the city of Moore and other affected communities," said Palace Entertainment President and CEO, Fernando Eiroa.
About Palace Entertainment
Palace Entertainment owns and operates 40 amusement parks, water parks and family entertainment centers nationwide, including Raging Waters, Kennywood, Idlewild, Boomers, Speedzone and Story Land. The company entertains millions of guests annually and is one of the largest park operators in the US. For more information, or for a park nearest your location, visit palaceentertainment.com.
About the American Red Cross:
The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies about 40 percent of the nation's blood; teaches skills that save lives; provides international humanitarian aid; and supports military members and their families. The Red Cross is a not-for-profit organization that depends on volunteers and the generosity of the American public to perform its mission. For more information, please visit redcross.org or visit us on Twitter at @RedCross.
Palace Entertainment Acquires America’s Largest Water Park, Noah’s Ark
Newport Beach (CA), March 2, 2012 - Festival Fun Parks, LLC dba Palace Entertainment announced today that it has completed the acquisition of Noah’s Ark water park, located in the popular, family vacation spot of Wisconsin Dells, Wisconsin.
Noah's Ark is America's largest water park with 70 acres, 51 water attractions, including 2 wave pools and 2 lazy rivers plus dozens of other various attractions. Located in the city of Wisconsin Dells, known as the "Water Park Capital of the World,” Noah's Ark is the region’s most popular family attraction and has two hotels on the property featuring over 300 rooms. Noah’s Ark offers the greatest variety of water rides in the nation, including Black Anaconda, the nation’s most thrilling watercoaster. The Travel Channel hailed Noah's Ark as "THE place for water in the Midwest,” and TripAdvisor.com named Wisconsin Dells the number one family vacation destination in the U.S.
Fernando Eiroa, Palace Entertainment’s President and CEO, comments, “We are very happy to be adding such an iconic water park to Palace’s array of family parks across the nation. We understand how important this park is within the Wisconsin Dells community, and we are dedicated to enhancing the Noah’s Ark brand. We look forward to meeting our new neighbors and community leaders and forging lasting relationships and partnerships.”
Tim Gantz, one of Noah’s Ark’s previous owners stated, “When we considered the sale of the park, we were excited that a company such as Palace, with so much experience in Water Parks, Theme Parks, Animal Parks and Family Entertainment Centers, would come to this area.” “ We look forward to the future success of Noah’s Ark, its employees, and see this as a positive move for the area as a whole,” added former co-owner Dan Gantz.
About Palace Entertainment
Palace Entertainment is one of the leading leisure park operators in the United States. With parks located in 11 states, Palace Entertainment continues its expansion of brands within the family entertainment sector. Palace Entertainment’s parks provide family oriented and affordable attractions to visitors of all ages, offering a wide range of attractions, such as roller coasters, Ferris wheels, live shows, variable depth pools, water slides, animal shows, miniature golf courses and arcade games. Palace Entertainment greets over 13 million visitors annually.
Palace Entertainment Announces Issuance of $430 Million
8.875% Senior Secured Notes Due 2017
Newport Beach, March 2, 2011: – Palace Entertainment Holdings, LLC (“Palace”), announced today that it has completed the issuance of $430,000,000 8.875% Senior Secured Notes due 2017 (the “Notes”). The Notes are fully and unconditionally guaranteed on a senior secured basis by all material domestic subsidiaries of Palace. The Notes were issued in a private offering to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to certain non-U.S. persons in offshore transactions in accordance with Regulation S under the Securities Act.
Palace used the proceeds from the offering, along with available cash and equity contributions of shareholders, to refinance existing debt and to pay related transaction fees and expenses.
The Notes and related guarantees will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or solicitation of an offer to purchase with respect to the, Notes or other securities, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or purchase would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Palace Entertainment
Palace Entertainment is one of the leading leisure park operators in the United States, with parks located in 11 states. Palace Entertainment’s parks provide family oriented and affordable attractions to visitors of all ages, offering a wide range of attractions, such as roller coasters, ferris wheels, live shows, variable depth pools, water slides, animal shows, miniature golf courses and arcade games.
Caution Concerning Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "will" or "should" and similar expressions and include, but are not limited to, statements about the expected future business and financial performance of Palace Entertainment Holdings, LLC. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to competition with other theme parks, recreation parks and other entertainment alternatives; changes in general economic and business conditions; weather conditions; seasonal fluctuations; instances of illness, safety incidents or product recalls and the negative publicity relating thereto; adverse conditions at the Kennywood park; the inability to meet efficiency or cost reduction objectives; unanticipated delays in completing improvement projects in Palace’s parks or the closure of any exhibition, ride or attraction; changes in laws and regulations and regulatory compliance; failure to attract and/or retain qualified personnel; labor problems; Palace’s substantial leverage and debt service obligations; and inability to finance capital expenditures and working capital. We caution you not to place undue reliance on any forward-looking statements. undertake no obligation, to revise the forward-looking statements included in this presentation to reflect any future events or circumstances, except as required by law.
Palace Entertainment Holdings, LLC Proposes an Offering
of $430 Million of Senior Secured Notes Due 2017
NEWPORT BEACH, CALIFORNIA, 14 February, 2011 – Palace Entertainment Holdings, LLC (“Palace”), announced its intention to sell, subject to market and other conditions, $430 million aggregate principal amount of senior secured notes due 2017 (the “Notes”) in a private placement. The Notes will be fully and unconditionally guaranteed on a senior secured basis by all material domestic subsidiaries of Palace.
Palace intends to use the proceeds from the offering, along with available cash and equity contributions of shareholders, to refinance existing debt and to pay related transaction fees and expenses.
The Notes and related guarantees have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. The Notes may not be offered or sold within the United States or to U.S. persons, except to “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and outside the United States to certain non-U.S. persons in offshore transactions in accordance with Regulation S under the Securities Act. Therefore, the Notes are subject to restrictions on transferability and resale, and may not be transferred or resold absent an effective registration statement or an applicable exemption from such registration requirements of the Securities Act. You are hereby notified that sellers of the Notes may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A.
This press release does not constitute an offer to sell or solicitation of an offer to purchase with respect to, Notes or other securities, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or purchase would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Palace Entertainment
Palace Entertainment owns and operates 40 parks nationwide, including water parks, family entertainment centers, theme parks and animal parks. Palace entertains millions of guests annually and is the largest operator of water parks and family entertainment centers in the nation. See www.palaceentertainment.com for more information.
Palace Entertainment To Manage Waterworld Waterpark In Concord, California
Newport Beach, CA January 25, 2011 - Palace Entertainment, the largest water park operator in the United States, has reached an agreement with CNL Lifestyle Properties, Inc. to manage all operations at Waterworld Water Park in Concord, California.
According to Fernando Eiroa, President and CEO of Palace Entertainment, “As Palace looks to capitalize on its unique expertise by expanding into the management arena, we are very pleased to strike an arrangement with CNL. Palace already owns three premiere water parks along the California coast, so management of Waterworld is a perfect complement to our current operations,” he asserts. “We are excited about the tremendous opportunities for success in the coming season.” Waterworld is expected to open on schedule in May of 2011.
CNL Lifestyle Properties CEO, Byron Carlock states. “We are excited to transition this park to Palace Entertainment, which has an industry-leading management team and reputation for operational success, as we finalize preparations for the new season.”
Palace Entertainment owns and operates 40 parks nationwide including 11 water parks, 21 family entertainment centers and 8 theme parks, including two of America’s most historic and treasured amusement parks -- the world-famous Kennywood and Lake Compounce. In 2010, Amusement Park magazine named its Idlewild park the “Best Children’s Amusement Park in the World.” Palace Entertainment’s properties host over 13 million visitors annually.
Palace Entertainment Acquires Dutch Wonderland
Newport Beach (CA), Nov 12th 2010 – Palace Entertainment (US subsidiary of Parques Reunidos) has acquired Dutch Wonderland Family Amusement Park in historic Lancaster County, Pennsylvania, from Hershey Entertainment & Resorts.
Dutch Wonderland is a 43-acre “kingdom for kids,” a family-style amusement park with a wide range of activities including more than 30 rides, a water-play area, and live entertainment. The goal of Dutch Wonderland is to provide a unique place for families and young children to have memorable fun, while enjoying the sightseeing, shopping, and timeless beauty of Lancaster’s Amish country. It was founded in 1963 by the Clark family.
Palace Entertainment operates 38 entertainment centers in the United States, including 7 theme parks, 10 water parks and 21 family entertainment centers in 11 states. Its other Pennsylvania holdings include such iconic destinations as Kennywood, Sandcastle, and Idlewild (recently voted #1 children’s park in the world). Palace Entertainment is the #1 operator of water parks and family entertainment centers in the USA.
Parques Reunidos is an international entertainment operator that operates 70 amusement and theme parks, water parks, zoological parks and family entertainment centers around the world, primarily throughout Europe and the US. Parques Reunidos is the second largest leisure park operator in Europe and the third largest worldwide. Over the past 5 years, Parques Reunidos has acquired more than 51 parks in Spain, USA, Belgium, Norway, Denmark, France, Italy, Germany and the United Kingdom. This strong expansion strategy has turned Parques Reunidos into one of the world´s leading players in the sector.
Richard T. Golding, Palace Entertainment Chairman, commented, “The acquisition of Dutch Wonderland is an additional step in the growth strategy of Parques Reunidos, which is the acquisition and successful integration of leading parks. In the light of the current situation of financial markets, this acquisition underlines the ability of the Parques Reunidos Group to fulfill its growth strategy.”
Fernando Eiroa, Palace Entertainment President and CEO, commented, “We are very proud of the integration of a leading park like Dutch Wonderland within our group. We are fully aware of the unique position that Dutch Wonderland holds within its community and we will be doing everything to enhance the Dutch Wonderland brand, while keeping the special family appeal of the park”.
Advisors of Palace Entertainment: Legal (Reed Smith – Philadelphia office), financial and tax (Deloitte) and insurance (Marsh).
Idlewild & SoakZone Named the World’s Best Amusement Park for Children Awarded First Place Honors and Golden Ticket by Amusement Today Magazine
LIGONIER, PA – September 11, 2010 – Earlier this evening, at Busch Gardens in Williamsburg, VA during an awards’ ceremony celebrating its annual “Best of the Best” poll of experienced and well-traveled amusement park fans worldwide, Amusement Today magazine (www.amusementtoday.com) awarded first place honors and a prestigious 2010 Golden Ticket to Pennsylvania’s Idlewild & SoakZone (www.idlewild.com) as the “Best Children’s Amusement Park in the World!
“Since the inception of the Golden Ticket Award for best children’s park in the world in 2004, Idlewild & SoakZone was a deserving runner-up to LEGOLAND! California (http://www.legoland.com) for six consecutive seasons, but this year we have crowned them King of the Kids,” said Gary Slade, Publisher and Editor-in-Chief of Amusement Today. “It’s a testament to Idlewild & SoakZone’s perseverance in providing a unique family friendly entertainment value in such a beautiful park setting.”
“Our goal every season is to be the best kid’s park in the world. Winning the ‘Oscar of the Amusement Park Industry’ is fantastic news for our guests, our local community, and members of our team,” said Park spokesperson Jeff Croushore. “We’re ecstatic to have Amusement Today magazine present Idlewild with this great honor.”
ABOUT AMUSEMENT TODAY’S GOLDEN TICKET AWARDS - Amusement Today is an amusement park industry trade publication based in Arlington, Texas. Introduced in 1998, the Golden Ticket Awards are the most prized awards in the industry. Amusement park fans worldwide are asked to rate the top parks in 25 categories, such as “amusement parks,” “roller coasters,” “shows,” “friendliest staff” and “water rides” and more. The magazine’s 2010 annual international poll was the seventh for family and children appeal in its 13-year history. For more information, call 817.460.7220 or visit www.amusementtoday.com.
ABOUT IDLEWILD & SOAKZONE - Founded in 1878 as a simple picnic ground along the Ligonier Valley Rail Road, Idlewild & SoakZone (www.idlewild.com) is the oldest amusement park in Pennsylvania and third-oldest in America. In addition, it is rated the best kid’s park in the world by Amusement Today magazine (www.amusementtoday.com) and one of the top five family amusement parks in the world by the National Amusement Park Historical Association (www.napha.org/). Idlewild features seven fun theme areas such as SoakZone Waterpark, Story Book Forest and Mister Rogers’ Neighborhood of Make-Believe. Seasonal operations run from late May through Labor Day and “Hallowboo,” a Halloweenthemed event, takes place in October. Idlewild is part of the Palace Entertainment family of parks that hosts over 13 million visitors annually at five theme parks, two animal parks, 10 waterparks, and 21 family entertainment centers. For more information, call 724.238.3666 or visit www.idlewild.com and www.palaceentertainment.com.
Kennywood Named World’s “Favorite Traditional Park”
According to its 24th annual Amusement Parks and Attractions Survey, the National Amusement Park Historical Association has named Kennywood the world's favorite traditional park for another consecutive year. Kennywood has held the top amusement park honor for all but one year since 1992. In addition to the favorite park ranking for Kennywood, a popular ride also fell among the favorites. The group ranked Phantom's Revenge as the third favorite steel coaster and this season, Kennywood will have a brand new steel roller coaster to add to competition. The Sky Rocket will take riders from 0 to 50 miles per hour in just three seconds!
President Obama and Daughter’s Visit Sea Life Park
President Barrack Obama brought his two daughters to Sea Life Park during his Christmas vacation in Hawaii. The Obama daughters family enjoyed a fun-filled visit highlighted by swimming with the dolphins.
He's the leader of the free world, but as President Barack Obama sat at Sea Life Park , watching daughters Malia and Sasha interact with dolphins, all that Jesus Bravo saw was a doting father. "He was really happy—you should have seen his face," said Bravo, the park's general manager. "He watched it like any other parent."
Sea Life Park in Hawaii is the only place in the USA that offers the special “foot push” and “dorsal tow” dolphin behaviors as well as the only Wholphin, a cross between a whale and
a dolphin, in captivity.
Palace Entertainment Wins Top Honors for Marketing
at Attractions Industry Awards
Palace Entertainment parks continue to win awards for marketing excellence each year at the annual IAAPA Brass Ring Awards. This year’s awards were presented at the IAAPA Attractions Expo in Las Vegas. The awards are regarded as recognizing the “best in the business” and honor originality, creativity and excellence in marketing and advertising in the attractions industry. Receiving for Best Radio Commercial were Big Kahuna’s Waterpark and Story Land, and for Best Website was Story Land.
Palace Entertainment Parks also won high honors at the World Waterpark Association Awards with finalist wins for Best Brochure, Radio and Print Media for Sandcastle, and Big Kahuna’s. Turnstile Advertising of Dallas, TX is the agency of record and developed the award winning creative for all the winning parks.
Palace Entertainment’s Chip Cleary named IAAPA Chairmen
Chip Cleary, SVP Operations was honored to be named Chairman of IAAPA, the attraction industry’s leading trade association. Chip has been in the business for 19 years starting with the construction of Splish Splash waterpark in Long Island and has been with Palace Entertainment for 10 years. He has served for many years on various IAAPA committees and will travel to many parks and oversee key meetings to help support industry issues.
Raging Waters Debuts Dr. Von Dark’s Tunnel of Terror for 2010
December 21, 2009 - Raging Waters San Dimas has announced the unveiling of their most thrilling new attraction yet, Dr. Von Dark’s Tunnel of Terror!
“It is a unique dark ride, themed around a scientist whose love of the darkness has driven him to pursuits that can only be described as diabolical,” says Brett Petit, Sr. Vice President and Director of Marketing for Palace Entertainment. “At four stories tall, 300 feet long and with a flume tube that an elephant could walk through, it is going to be the “must-do” ride of the summer.”
Positioned face-to-face on new WhirlyWheel tubes, riders will spin freely while descending four stories in total darkness, accelerating them toward a giant funnel. Seemingly out of nowhere, the bottom drops out and riders are driven skyward into the upper hemisphere of the enclosed Tornado Flume. Held by centrifugal force, a series of 360-degree spins are preceded by back-to-back "vertical" banks. Riders are then jettisoned down the mouth of the funnel, down towards the certain doom that is projected on a special effects water curtain completely covering the only escape route. Dr. Von Dark’s Tunnel of Terror—the definitive answer to the ultimate question of courage: you’re not afraid of the dark, are you??
September 18, 2009 - For the past 12 years, Amusement Today, the industry’s most prestigious trade publication, has recognized “The Best of the Best” with its Golden Ticket industry awards. In 2009, Palace Entertainment is proud to be represented by no fewer than four individual parks, including Kennywood, Idlewild, Lake Compounce, and Boomers.
Named the 2nd best Kids Park, Idlewild in Ligonier, PA has a long-standing tradition of excellence in family entertainment. On the receiving end of four prestigious awards, Pittsburgh’s Kennywood is no stranger to accolades. In 2009, Noah’s Ark was named the second Best Funhouse /
Walk-through Attraction and Kennywood’s
annual Halloween event was ranked top-five.
No matter how you look at it, the key to success in the amusement industry lies on the serpentine path of the roller coaster—a category in which Palace Entertainment is well represented. Kennywood’s Phantom’s Revenge was ranked a Top 10 steel roller coaster, while Boulder Dash at Lake Compounce was named the 2nd best wooden coaster. Also rated in the top 50 wooden coasters were Boomers Hurricane, and Kennywood’s Thunderbolt and Jack Rabbit.
Palace Entertainment salutes all the 2009 winners in Amusement Today’s “Best of the Best” and is delighted to take its place among the industry’s most recognized and successful parks.
Kennywood Amusement Park Announces
Launch Roller Coaster as New Ride for 2010!
West Mifflin, PA – Kennywood is proud to announce the addition of a
seventh roller coaster for the 2010
season! Joining the ranks of the Lil’ Phantom, Exterminator, Jack Rabbit, Racer, Thunderbolt, and Phantom’s Revenge, the new Linear Synchronous Motor (LSM) launch roller coaster, designed and built by Premier Rides in Maryland, is unlike any other roller coaster at Kennywood.
“This roller coaster will provide a thrilling new experience for coaster lovers at Kennywood,” explains General Manager Jerome Gibas. “The use of LSM launch technology will allow riders to blast from 0 to 50mph in three seconds and offers our first roller coaster with inversions since the Steel Phantom.”
Kennywood’s new launch coaster will feature many exciting and unique features including three
inversions and a 0-50mph launch in three seconds! After the high-speed launch, riders will experience a vertical ascent to 95ft before a brief cliffhanger pause at the top and a 90-degree drop into a maximum G-force pullout. The riders then enjoy extended airtime as the train races into an inverted top hat element, passes into a barrel roll and goes vertical again through a twist up leading to another pause.
Riders experience a second vertical free fall followed by another maximum G-force pullout on the way into a highly banked fan curve. After a traditional corkscrew, a curve to a zero gravity hill, and a series of wave turns, riders finally return to the station.
The new roller coaster will be placed in the current location of the Turnpike, a ride that has been at
Kennywood since 1966. Guests will only have to say ‘see you later’ to the Turnpike since plans are
already underway to bring back the ride in the near future.
The project is expected to be complete in May of 2010. Official coaster name and logo information
will be released in the coming weeks. Click Here for a preview video and updates.
Ride Statistics: Track Length: 2100 feet
Maximum Speed: 50 mph
Ride Time: 65 seconds
Number of Trains: 2
Number of Cars Per Train: 2
Number of Riders Per Train: 12
April 8, 2009 - To amusement park lovers, Pennsylvania's Kennywood Park is known as one of the greatest traditional amusement parks in the world. But for members of the Darkride and Funhouse Enthusiasts (DAFE) Kennywood is known as their Favorite Dark Attraction Park.
Why did Kennywood take the honor as DAFE members’ favorite such park for an incredible eighth year in a row? According to DAFE members’ votes, Kennywood offers a nice overall mix of the traditional “darkrides and attractions” that DAFE members love. Unfortunately for darkride lovers, many amusement park chains eliminated most of the ride-through or walk-through haunted houses and/or funhouses decades ago. Fortunately, Kennywood did not.
Additional honors for Kennywood this year also illustrate how Kennywood values “the Dark”:
The park’s Phantom Fright Nights was again named as the group’s Favorite Halloween Event. The new Ghostwood Estate jumped out of the dark and into the spotlight as the group’s Favorite Interactive Darkride, that is a ride in which guests actually shoot at the spooks inhabiting the ride.
Kennywood’s Noah’s Ark wins as DAFE’s Favorite Walkthrough Attraction for the seventh time in eight years. Noah’s Ark, a large, rocking boat-shaped funhouse, is the last of its kind in the United States and one of only two left in the world.
DAFE Director Rick Davis said: “Our members have visited parks and attractions all over the US and many have trekked as far as Japan in search amusement park thrills. That Kennywood constantly ranks as a favorite is not a surprise to those of that have been to the park. Kennywood seems to have the right blend of nostalgic, traditional and thrill rides, something for the whole family.”
Dallas, TX, April 2, 2009 - Nascar driver Denny Hamlin and tight end Jason Witten trade paint on the high speed tracks to benefit the March of Dimes at SpeedZone in Dallas.
Snoop Dogg Wins Races at SpeedZone LA
Los Angeles, CA, March 22, 2009 - Famous rap star Snoop Dogg put the pedal to the metal while racing the 350hp Top Eliminator Dragsters at SpeedZone in City of Industry. Snoop was there celebrating with his son’s Pee Wee football banquet. Snoop won the drag race and everyone had a great time driving on the Slick Trax, Turbo Tracks and Gran Prix raceways.