Great Wolf Resorts Receives $7.25 Per Share Offer From KSL Capital Partners

Great Wolf Resorts, Inc.

today announced that it has received a committed offer from KSL Capital Partners to acquire Great Wolf for $7.25 per share in cash, subject to the terms and conditions of the merger agreement provided with the offer. The Great Wolf Board of Directors, in consultation with its independent financial and legal advisors, has determined that the KSL Offer constitutes a “Superior Proposal” under the terms of the Agreement and Plan of Merger, dated March 12, 2012, as amended on April 6, 2012 and as further amended on April 18, 2012, between Great Wolf and affiliates of Apollo Global Management

.