QuickLinks -- Click here to rapidly navigate through this document

Exhibit 12.1

Festival Fun Parks Statement of the Calculation of Earnings to Fixed Charges

	FY 2001		FY 2002		FY 2003		FY 2004		FY 2005		Pro forma 2005		Actual Q1 2006		Pro forma Q1 2006
Earnings
Net Loss	(7,527,026	)	(33,693,513	)	(25,399,170	)	(34,496,331	)	(11,089,896	)	(5,351,030	)	(16,471,521	)	(15,113,092	)
Add: Fixed Charges	13,829,702		18,184,781		25,345,020		26,594,655		28,265,232		22,362,037		7,257,115		5,741,186
	6,302,676		(15,508,732	)	(54,150	)	(7,901,676	)	17,175,336		17,011,007		(9,214,406	)	(9,371,901	)
Less: Interest Capitalized	0		(10,084,471	)	(1,554,045	)	(2,232,712	)	0		(5,575,000	)			(5,575,000	)
Earnings	6,302,676		(25,593,203	)	(1,608,195	)	(10,134,388	)	17,175,336		11,436,008		(9,214,406	)	(14,946,906	)
Fixed Charges
Interest Expense	11,156,297		14,134,131		20,035,619		21,437,958		22,963,488		17,060,294		6,044,680		4,528,751
Estimate of the Interest Within Operating Leases	2,673,405		4,050,650		5,309,401		5,156,697		5,301,744		5,301,744		1,212,435		1,212,435
Fixed Charges	13,829,702		18,184,781		25,345,020		26,594,655		28,265,232		22,362,037		7,257,115		5,741,186
Ratio of Earnings of Fixed Charges	0.46		(1.41	)	(0.06	)	(0.38	)	0.61		0.51		(1.27	)	(2.60	)
Amount of Additional Income Necessary to Achieve Fixed Charge Ratio of 1:1	7,527,026		43,777,984		26,953,215		36,729,043		11,089,896		(10,926,030	)	16,471,521		20,688,692

QuickLinks

Festival Fun Parks Statement of the Calculation of Earnings to Fixed Charges