Despite reporting a gain in second-quarter revenue, Cedar Fair Entertainment Company has swung to a loss, as costs related to a major refinancing – and now defunct – buyout deal served to scupper the North American amusement company’s operations.

Revenue in the second quarter of fiscal 2010 grew four per cent to $275.6m from $264.1m. However, its loss of $4.2m in the same period compares with a profit of $7.4m in the second quarter of last year

In April, Cedar Fair and private equity firm Apollo Global Management called off their merger, which was unpopular with the operator’s investors. As a result, Cedar Fair said it would pay Apollo $6.5m to reimburse it for expenses related to the transaction, which was announced in late 2009.