Universal Studios’ New Theme Park Is Going To Be Delayed Even Longer Than We Thought

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The worldwide theme park closure has been an enormous monetary hit to corporations like Disney and Universal. With out that common move of company, hundreds of thousands of {dollars} a day are being misplaced. This not solely has an impression on the trade at the moment, but it surely has the potential to have lasting penalties, as the shortage of earnings doubtlessly means no cash is on the market for future sights or expansions. The most important new theme park enlargement on the horizon is Universal Studios Orlando’s Epic Universe, a wholly new theme park, and it now seems that park might stay on the horizon for a while.

Universal’s mum or dad firm, Comcast, had already introduced that development on the brand new park had been shutdown, which might clearly end in a delay within the park’s opening. Now, nevertheless, evidently the Epic Universe will likely be delayed far quite a lot of months of stopped development as Comcast Chief Monetary Officer Mike Cavanagh just lately acknowledged in the course of the J.P. Morgan Investor Convention (by way of the Orlando Sentinel) that development of the park will resume not when the state of affairs with coronavirus improves, however when the economic system as a complete improves. In keeping with Cavenaugh…

All issues thought of, it’s an enormous capital swing, so higher to essentially march ahead with that when we’ve got only a bit extra visibility on what’s occurring with the economic system post-COVID. I can’t inform you when that’s going to be once we revisit it.

The whole world has taken an financial hit as a consequence of the truth that shoppers are largely unwilling, if not completely unable, to spend cash like they as soon as did. Analysts have a spread of predictions as to how lengthy a world recession may final, but when the plan is absolutely for Epic Universe to carry off on resuming development till the economic system improves it means we may very well be taking a look at a delay of not weeks or months, however doubtlessly, years.

With a delay like that, one has to marvel if there’s the potential that the whole Epic Universe venture may very well be scrapped, however the CFO assured folks that the corporate is assured within the venture and that it’s going to go ahead, there’s simply no timetable as to when.

Initially, Epic Universe was anticipated to open in 2023. The development delay may have doubtlessly pushed that into 2024, however now the door is open for the park being 5 years away or extra.

Development was in an early sufficient part that the delay should not really value Universal something, so the corporate can afford to only sit and wait. And positively, that call makes loads of sense beneath the circumstances. Due to the financial decelerate, analysts predict the theme park trade will likely be struggling for years following this outbreak. Folks will doubtlessly lack confidence in crowded locations like theme parks, and may lack the funds to afford costly theme park holidays.

The aim of a brand new theme park like Epic Universe is to get the company planning holidays to increase their journey. One other theme park requires one other day of trip, which in flip means more cash spent on inns, meals, and merchandise. If there is a concern that the company will not be keen or capable of spend the cash on the present trip choices, there’s not a lot level in spending the cash to open a further park.

To this point, the one confirmed facet of the park is a land devoted to Nintendo characters known as Tremendous Nintendo Land. Many of the remainder of what the brand new park will include has been rumored, however one definitely has to marvel how an extended delay would possibly change the park. Concepts for lands and sights that is perhaps innovative now may really feel dated if the park is delayed by years. Perhaps we’ll nonetheless be getting Epic Universe down the street, however that does not imply we’ll be getting the identical park we had been anticipating when it really occurs.


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