UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 Form 10-K/A
 
 (Mark One)
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    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal period ended December 31, 2009
 OR
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    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from            to
 Commission File Number 000-51064
 
 GREAT WOLF RESORTS, INC.
 (Exact name of registrant as specified in its charter)
 Delaware(State or other jurisdiction of 
incorporation or organization)
    
    51-0510250(I.R.S. Employer
Identification No.)122 West Washington Avenue 
Madison, Wisconsin 53703(Address of principal executive offices)
    
    53703(Zip Code)
 Registrants telephone number, including area code
608 661-4700
Securities registered pursuant to Section 12(b) of the Act:
None
 Securities registered pursuant to Section 12(g) of the Act:
 Title of Each Class
    
    Name of Each Exchange on Which RegisteredCommon Stock, par value $0.01 per share
    
    NASDAQ Global Market
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    Accelerated filer þ
    
    Non-accelerated filer o
    
    Smaller reporting company o(Do not check if a smaller reporting company)
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   DOCUMENTS INCORPORATED BY REFERENCE
    EXPLANATORY NOTE




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ITEM 8.
    
    FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
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PART III
 ITEM 15.
    
    EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
 Financial Statements
  Financial Statement Schedules
  Exhibits
  3




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SIGNATURES
  GREAT WOLF RESORTS, INC./s/  KIMBERLY K. SCHAEFERKimberly K. SchaeferChief Executive Officer  4




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INDEX TO EXHIBITS
  ExhibitNumber
    
    Description2.1
    
    Form of Merger Agreement (Delaware) (incorporated herein by reference to Exhibit 2.1 to the Companys
Registration Statement on Form S-1 filed August 12, 2004)2.2
    
    Form of Merger Agreement (Wisconsin) (incorporated herein by reference to Exhibit 2.2 to the Companys
Registration Statement on Form S-1 filed August 12, 2004)3.1
    
    Form of Amended and Restated Certificate of Incorporation for Great Wolf Resorts, Inc. dated December 9, 2004
(incorporated herein by reference to Exhibit 3.1 to the Companys Registration Statement on Form S-1 filed
August 12, 2004)3.2
    
    Form of Amended and Restated Bylaws of Great Wolf Resorts, Inc. effective September 12, 2007 (incorporated
herein by reference to Exhibit 4.1 to the Companys Current Report on Form S-1 filed September 18, 2007)4.1
    
    Form of the Common Stock Certificate of Great Wolf Resorts, Inc. (incorporated herein by reference to Exhibit
4.1 to the Companys Registration Statement on Form S-1 filed October 21, 2004)4.2
    
    Junior Subordinated Indenture, dated as of March 15, 2005, between Great Wolf Resorts, Inc. and JPMorgan Chase
Bank, National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Companys
Current Report on Form 8-K filed March 18, 2005)4.3
    
    Amended and Restated Trust Agreement, dated as of March 15, 2005, by and among Chase Manhattan Bank USA,
National Association, as Delaware trustee; JPMorgan Chase Bank, National Association, as property trustee;
Great Wolf Resorts, Inc., as depositor; and James A. Calder, Alex G. Lombardo and J. Michael Schroeder, as
administrative trustees (incorporated herein by reference to Exhibit 4.2 to the Companys Current Report on
Form 8-K filed March 18, 2005)10.1
    
    License Agreement, dated January 30, 2004, by and between The Great Lakes Companies, Inc. and Jim Pattison
Entertainment Ltd. (incorporated herein by reference to Exhibit 10.1 to the Companys Registration Statement
on Form S-1 filed September 23, 2004)10.2
    
    Development Agreement, dated as of July 30, 2003, among the City of Sheboygan, Wisconsin, the Redevelopment
Authority of the City of Sheboygan, Wisconsin, The Great Lakes Companies, Inc., Blue Harbor Resort Sheboygan,
LLC, and Blue Harbor Resort Condominium, LLC (incorporated herein by reference to Exhibit 10.2 to the
Companys Registration Statement on Form S-1 filed August 12, 2004)10.3
    
    First Amendment to the Development Agreement, dated June 25, 2004, by and among the City of Sheboygan,
Wisconsin, the Redevelopment Authority of the City of Sheboygan, Wisconsin, The Great Lakes Companies, Inc.,
Blue Harbor Resort Sheboygan, LLC, and Blue Harbor Resort Condominium, LLC (incorporated herein by reference
to Exhibit 10.3 to the Companys Registration Statement on Form S-1 filed August 12, 2004)10.4
    
    Tall Pines Exclusive License and Royalty Agreement, dated July 25, 2004, between Tall Pines Development
Corporation and The Great Lakes Companies, Inc. (incorporated herein by reference to Exhibit 10.4 to the
Companys Registration Statement on Form S-1 filed December 7, 2004)10.5+
    
    Employment Agreement between Great Wolf Resorts, Inc., and Kimberly Schaefer, dated December 13, 200410.6+
    
    Employment Agreement between Great Wolf Resorts, Inc. and James Calder, dated December 13, 200410.7+
    
    Employment Agreement between Great Wolf Resorts, Inc. and J. Michael Schroeder, dated December 13, 200410.8+
    
    First Amendment to Employment Agreement between Great Wolf Resorts, Inc. and J. Michael Schroeder, dated May
28, 2008
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ExhibitNumber
    
    Description10.9+
    
    Second Amendment to Employment Agreement between Great Wolf Resorts, Inc. and J. Michael Schroeder, dated July
2, 200810.10+
    
    Employment Agreement between Great Wolf Resorts, Inc. and Timothy Black, dated March 20, 200910.11+
    
    First Amendment to Employment Agreement between Great Wolf Resorts, Inc. and Timothy Black, dated December 16,
200910.12
    
    Registration Statement on Form S-1 filed January 21, 2005) Form of Noncompete Agreement, Trade Secret and
Confidentiality Agreement (incorporated herein by reference to Exhibit 10.6 to the Companys Registration
Statement on Form S-1 filed January 21, 2005)10.13
    
    Form of Officers and Directors Indemnification Agreement (incorporated herein by reference to Exhibit 10.7 to
the Companys Registration Statement on Form S-1 filed August 12, 2004)10.14
    
    Form of Indemnity Agreement (incorporated herein by reference to Exhibit 10.8 to the Companys Registration
Statement on Form S-1 filed September 23, 2004)10.14
    
    Form of Great Wolf Resorts, Inc. Employee Stock Purchase Plan (incorporated herein by reference to Exhibit
10.9 to the Companys Registration Statement on Form S-1 filed August 12, 2004)10.15
    
    Form of Great Wolf Resorts, Inc. 2004 Incentive Stock Plan (incorporated herein by reference to Exhibit 10.10
to the Companys Registration Statement on Form S-1 filed November 26, 2004)10.16
    
    Form of Great Wolf Resorts, Inc. Deferred Compensation Plan (incorporated herein by reference to Exhibit 10.11
to the Companys Registration Statement on Form S-1 filed August 12, 2004)10.17
    
    Loan Agreement by and among Great Wolf Resorts, Inc., Citigroup Global Markets Realty Corp. and The Travelers
Insurance Company (incorporated herein by reference to Exhibit 10.16 to Companys Registration Statement on
Form S-1 filed January 21, 2005)10.18
    
    Purchase Agreement, dated as of March 15, 2005, among Great Wolf Resorts, Inc., Great Wolf Capital Trust I,
Taberna Preferred Funding I, Ltd and Merrill Lynch International (incorporated herein by reference to Exhibit
1.1 to the Companys Current Report on Form 8-K filed March 18, 2005)10.19
    
    Loan Agreement dated July 28, 2007, among Great Wolf Lodge of Grapevine, LLC, as borrower, and Merrill Lynch
Capital and HSH Nordbank, as lenders (incorporated herein by reference to Exhibit 1.1 to the Companys Current
Report on Form 8-K filed July 31, 2007).10.20
    
    Third Amendment to Loan Agreement dated July 31, 2009, among Great Wolf Lodge of Grapevine, LLC, as borrower,
and GE Business Financial Services Inc. (f/k/a Merrill Lynch Business Financial Services, Inc. through its
division Merrill Lynch Capital), as administrative agent on behalf of the lenders (incorporated herein by
reference to Exhibit 1.1 to the Companys Current Report on Form 8-K filed July 31, 2009).10.21
    
    Loan Agreement dated December 6, 2007, between Great Wolf Lodge of the Poconos, LLC, as borrower, and
Citigroup Global Markets Realty Corp., as lender (incorporated herein by reference to Exhibit 1.1 to the
Companys Current Report on Form 8-K filed December 13, 2007).10.22
    
    Loan Agreement dated August 4, 2008, between Great Wolf Lodge Williamsburg SPE, LLC, as borrower, and Calyon
New York Branch and Capmark Bank, as lenders (incorporated herein by reference to the Companys Current Report
on Form 10-Q filed August 5, 2008).10.23**
    
    Amendment to Loan Agreement dated January 15, 2010, among Great Wolf Lodge Williamsburg SPE, LLC, as borrower,
and Calyon New York Branch, as agent, and Calyon New York Branch and Capmark Bank, as lenders.10.24
    
    Loan Agreement dated April 30, 2008, among Great Wolf Lodge of the Carolinas, LLC, as borrower, Marshall
Financial Group, as administrative agent, and the several banks and other financial institutions from time to
time party thereto, as lenders (incorporated herein by reference to Exhibit 1.1 to the Companys Current
Report on Form 8-K filed May 6, 2008).
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ExhibitNumber
    
    Description10.25
    
    Fifth Amendment to Lease, dated January 22, 2009, between the registrant and Hovde Building, LLC,
(incorporated herein by reference to the Companys Current Report on Form 8-K filed January 28, 2009).21.1**
    
    List of Subsidiaries23.1**
    
    Consent of Grant Thornton LLP23.2**
    
    Consent of Deloitte & Touche LLP23.3*
    
    Consent of PricewaterhouseCoopers LLP31.1*
    
    Certification of Chief Executive Officer of Periodic Report Pursuant to Rule 13a  14(a) and Rule 15d  14(a)31.2*
    
    Certification of Chief Financial Officer of Periodic Report Pursuant to Rule 13a  14(a) and Rule 15d  14(a)32.1*
    
    Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 135032.2*
    
    Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 135099.1*
    
    Consolidated Financial Statements
of CNL Income GW Partnership, LLLP and Subsidiaries
 
 *
    
    Filed herewith.**
    
    Previously filed.+
    
    Indicated management contract or compensatory plan or arrangement
required to be filed as an exhibit pursuant to Item 15(c) of Form
10-K. 7