About Palace Park Entertainment

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About Palace Park Entertainment

posted on Sep 11, 2014 11:35AM

http://www.palaceentertainment.com/pages/news.html

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”.

More information:

Advisors of Palace Entertainment: Legal (Reed Smith – Philadelphia office), financial and tax (Deloitte) and insurance (Marsh).

Grupo Parques Reunidos: www.parquesreunidos.com
Dutch Wonderland: www.DutchWonderland.com

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.”

For more information about all of the 2010 winners and survey results, visit: www.goldenticketawards.com

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!

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