Here’s Why Amusement Park Stocks Thrilled Investors in July
Amusement park revenues were up across the board in July. In spite of the economic downturn, park operators nation-wide were hiking ticket prices and cashing in on higher profits, it seems like people were willing to pay a premium for much needed summer distractions. Cedar Fair Company, owner of L.A’s Knotts Berry Farm and 10 other amusement parks in the U.S. and Canada, reported revenue up 3% in FQ2 on a 2% increase in attendance and a 1% increase in customer in-park spending. Six Flags reported admissions revenues up 9% and a 4% increase in customer spending. Comcast (NASDAQ:CMCSA), which owns and operates Florida’s Islands of Adventure theme park also won big in July with attendance up 20% year over year.
Here’s a look at how the stocks are performing today: