Two Iconic Texas Water Parks Sell for $261M to Ohio Amusement Park Operator

Texas-based Schlitterbahn is selling its water parks in New Braunfels and Galveston to an Ohio company that drew nearly 26 million people to its amusement parks last year.Cedar Fair Entertainment's $261 million deal, announced Thursday, also gives it the right to buy Schlitterbahn's Kansas water park for $6 million in cash. That park was where a 10-year-old boy was killed nearly three years ago.Schlitterbahn had been mum on its plans for the Kansas City park where Caleb Schwab was decapitated in August 2016 on the 17-story Verruckt slide. Caleb's family received nearly $20 million in settlements and two women who were seriously injured while riding with him settled for an undisclosed amount."These properties represent new markets for us with attractive demographics in the growing Central Texas region," said Cedar Fair president and CEO Richard Zimmerman in a statement. "Schlitterbahn employees are known throughout the industry for their innovation and dedication to the quality of the guest experience."  Continue reading...