Cable driven racing boats compete in a simulated race including forward and return heats. In the forward heat, the racing boats are accelerated along parallel guide channels from a forward launch station into a shallow splash lake, and then hydroplane to a forward heat finish line. In the return heat, the racing boats are accelerated through the same guide channels from a return launch station located on the opposite end of the splash lake. Passengers continue to face the reverse launch station as the racing boats plunge into the shallow splash lake and hydroplane to the return heat finish line. The racing boats are stabilized by centering wheels and by guide rollers that travel along the guide channels. The racing boats are clamped onto the drive cables, and the guide rollers are mounted for rotation on tow bars that are pivotally coupled to the drive cables. The centering rollers ride on rails that run in parallel with the guide channel, and the tow bars pull the guide rollers through a guide pocket in rolling engagement against a guide plate. High speed take-up reels located near the forward and return launching stations are coupled to opposite ends of the power drive cables for pull-pull power transmission. Start-up torque is provided by a shiftable flywheel, and electric motors drive the cables at hydroplaning speed.