 I'm here to talk about Cedar Fair's stockholders call, I listened to the whole thing including the question period, and I've watched a lot of videos that there are not anyone in particular, but I've watched a couple of videos now, I think it was two, so I said a lot, but I've watched two, and I've noticed that there's a bit of miscommunication in terms of the information that was released on the call, and I wanted to go over the real information. I have all the notes. For those of you that watch our podcast, we already released all the details. I will say that people have gotten it pretty spot on. The information is correct that Cedar Fair is investing more money into their parks, and they're going to be investing in higher quality attractions, but the kinds of attractions and the years and the parks that are going to get these attractions in the other videos was completely incorrect. So I'll go over all the facts that I know, and if you have any questions, comments or concerns, comment down below and I'll actually respond to a lot of the comments in this video. So basically, Cedar Fair had a really strong fourth quarter, which is surprising because I do know that Canada's Wonderland had a really soft winter fest, but I also know that Canada's Wonderland had its strongest season yet, so I guess it balanced out. I also know that Canada's Wonderland had the highest season pass growth in the whole chain, but as a total package, Cedar Fair season passes are down 4% over last year. The chain is super confident that inflation is not affecting business. Spending is strong in parks. Season passes are strong, considering a 4% decrease during inflation and a small recession. It's actually not that big of a deal, to be honest. There's no reduction in consumer health in their market, so what that means is their parks are operating in stronger markets that are affected less by the inflation and mini-recession that is going on. When it comes to roller coasters, I'll talk about this before I talk about food and beverage. I have all the notes, like all the tea, so I'm going to go over everything, not just roller coasters, but the 200 million number was slightly exaggerated, so Cedar Fair is spending 100 to 185 million in 2023 on new capital, so that's already spent, that's the capital that they've already bought for 2023, and it's going to be around that moving forward. And they did say as the chain pays off their debt, then they'll invest more in attractions, but they have a lot of debt to pay off, so that 100 to 185 million is about the approximate price tag that you're going to look at Cedar Fair investing in new capital. Now that 100 to 185 million also includes resorts and accommodations now, and maintenance and all that. This isn't just capital for new parks, which is new because Cedar Fair actually used to have a separate category for their hotels and resorts. So for example, a lot of Cedar Fair's, Cedar Point's hotel renovations were included in that. Now they did say the five main parks for Cedar Fair are Cedar Point, Kings Island, Carowinds, Nott's Bay Farm, and Canada's Wonderland. That is true, that information was released on the stockholders' call, and those parks will be getting brand new coasters, large coasters, I would even say more than what they've been spending previous years, so if they've been spending 30 million, I could see them spending 35, 40 million on some of those five parks now based off of what they said on the conference call, and it's about every four to five years that these parks will see a major attraction. That's all they said about that five-year timeline. That five-year timeline was not applied to all the other parks in the chain. So they're going to invest in major attractions for their medium-sized parks, so not their small parks, but their medium-sized parks, and they're going to be specific parks that get these medium-sized investments. So parks that have shown that they can grow attendance, for example, one of the main quotes they actually said about these major attractions at their medium-sized parks is it grows the attendance as much as the bigger parks. Like, so let's say what Canada's Wonderland built, Yukon Stryker, and then Dornie Parks built in that dive coaster, both the parks will show a similar increase in revenue and attendance, increase, percentage increase, not dollar increase. So they're not going to see obviously the same dollar, but those attractions at those medium-sized parks are creating that draw, that growth that those big parks do, and that was Cedar Fair's reasoning behind investing in these medium-sized parks. It was not stated that these medium-sized parks were even going to see one every five years. They just said they were going to start investing some major attractions, and they did not say the same $30 million attractions that the big parks had. It was about $15-20 million if I am not mistaken on the dollar value when they were discussing that. The smaller parks will probably see attractions, too. I'm not saying they're not going to see attractions, but there was no timeline and there was no estimate on value. I could see the smaller parks getting about 10-15 million tops on new coasters moving forward, but it's definitely not going to happen every five years. The only parks that are guaranteed to get a new coaster every five years are those major parks. They are going to have a medium park added in. Each year it looks like a medium park will get a coaster. That very well could mean that a medium-sized park sees a brand new coaster every five to six years, and if we're going to include the small medium parks, then every five to seven years a medium small park could see a brand new coaster every year. I just wanted to touch on that because I thought that was a bit over-exaggerated. It is very serious information that they gave out about the five big parks, so the five big parks make up 80%. So Cedar Point, Kings Island, Carowinds, Knotsbury Farm, and Canada's Wonderland make up 80% of the company's EBEDA. On top of that, there's no further plans to sell any parks, so Michigan's Adventure is not up for sale. They also said that CGA was considered a medium park, which I thought was really tea information considering it's a park that's up for sale, or what did get sold, and it's not even a small park, it's a medium park in terms of attendance and revenue. They do plan on expanding the calendar year at all of their parks, so for example we saw that at Cedar Point, they used that as a topic of discussion. Cedar Point's attendance, season passes, and all season, Fastlane and Fastlane sales were down last season, but they attributed that to topsoil dragster being closed, and they're always going to be looking to add days to their parks, especially their five largest parks, so I thought that was tea. Food and beverage made up the biggest growth in the chain, and they're going to continue to invest and upgrade all their parks, food and beverage infrastructure as it grows revenue. It grew by 10% in the last quarter. They're going to continue to upgrade the facilities, and they're going to improve digital tech, which will lead to less labor as they get ready to roll out a new app for the 2024 season with mobile ordering and mobile payment, and if you want to learn about that, I did mark 24 time down there, so go to the 24 minute mark in the conference call, I believe is what I wrote that down, because it was really tea information on that, so a new app will be rolled out in 2024, which should allow you to have mobile payment and mobile ordering, so I guess it'll be linked to your Apple or Samsung wallet, and yeah, obviously, they're going to look to control labor with digital tech, so automated gates to enter the parking and automated gates to enter the park is what I'm going to assume and then mobile ordering for restaurants would be a huge thing to increase that. Now, that's pretty much all I have that was like super important information. Again, some tea information is that Cedar Fair has hired an Islands of Adventure universal design guy to renovate areas of the parks at their biggest parks, so that's going to be really tea moving forward, they're going to start, parks are going to start to look more beautiful. So I just wanted to share that information with you guys. If you have any comments, questions or concerns, comment down below and I will respond to as many as I possibly can. But I have a feeling I'll be able to respond to all of them if you have any questions. And yeah, if you have, I guess that's it. I don't think I missed anything from the call, but I just wanted to stress that because there were some wild numbers being thrown out there in some wild years. But yeah, I guess I'll make my five year predictions for the chain, because I think I have a really good understanding of what parks getting what in what year now because Cedar Fair is really predictable and they just made themselves even more predictable after this stockholders call when they gave out all this juicy information. Anyways, thanks so much for watching guys. Have a good one. Bye