The land has been acquired by the Vaughan Health Campus of Care. Although financial terms of the deal were not disclosed, Cedar Fair said approximately US$50m would go towards reducing the operator’s debt and strengthening the group’s long-term position.

"We continue to focus heavily on controlling our operating costs," said Dick Kinzel, Cedar Fair’s chairman, president and CEO. "In this economic environment we need to remain vigilant in actively managing our costs to help offset the impact of lower early-season revenues."