Hong Kong protests could end up costing Disneyland US$135 million in lost income for final six months of the year
- Loss-making theme park says it lost US$55 million between July and September, and predicts US$80 million shortfall in final quarter
- Walt Disney issues warning for coming financial year and expects US$275 million drop in income
Anti-government protesters have taken the sparkle off Hong Kong’s magic kingdom, with the city’s Disneyland Resort estimating the civil unrest will have cost it US$135 million (HK$1.05 billion) in income by the end of the year.
And the loss-making theme park’s United States-based parent company has warned of a significant full-year drop in income in 2020.
On Friday, Walt Disney revealed income for Hong Kong Disneyland Resort on Lantau Island shrank by US$55 million year on year between July and September, and expected the income would decline by another US$80 million between October and December.
For the financial year ending September next year the income would be US$275 million lower, it warned.
“The circumstances in Hong Kong have led to a significant decrease in tourism from mainland China and other parts of Asia,” Walt Disney chief financial officer Christine McCarthy said.