ORLANDO, Fla. (WESH) — Disney announced it plans to invest $60 billion in theme parks around the world.
This comes after company executives told investors that fewer people are coming to Disney World this year than at the same time last year.
The company didn't say what those billions of dollars would mean for Disney World in Orlando, but the CEO said some of it could go toward building a fifth theme park in central Florida. He didn't deny that he had sex.
“We are already hard at work making fundamental decisions about where and what new investments we will make,” Disney CEO Bob Iger said.
Speaking to investors on a first-quarter earnings call, Iger said most of the $60 billion the company plans to spend on theme parks and cruise lines will be deployed around the world.
“We can pretty much conclude that they're all over,” Iger said.
Executives said operating profit for the theme park division as a whole rose 10% from a year earlier, the best quarter on record. When it comes to Disney World, the Central Florida park has actually declined.
The company blames lower attendance, as well as inflation and higher wages, when compared to the strong numbers seen at the park's 50th anniversary celebration a year ago.
But they said they expect the new investment to pay off.
Some have speculated that Disney may be looking to build a fifth theme park in Orlando. The company even included the idea of a future large-scale theme park in its controversial developer agreement with the Reedy Creek Improvement District before Gov. Ron DeSantis' officials took over the area.
Iger was asked specifically about the Gate 5 idea on the conference call, but he was rather evasive.
The-CNN-Wire™ & © 2024 Cable News Network, Inc., a Time Warner Company. All rights reserved.