City wants a new deal: Hong Kong Disney sends billions of dollars back to US parent company while reporting losses
The government – the biggest shareholder in Hong Kong Disneyland – has been urged to renegotiate what critics call an "unfair treaty" with Walt Disney after it was revealed for the first time that the theme park needs to pay between 5 and 10 per cent of its revenue to its American parent as royalties every year.
This means the Lantau-based park could have paid between HK$1.68 and HK$3.37 billion to the California-based conglomerate since it started releasing financial figures in 2009, the Post has calculated – despite recording losses in eight of its 11 years.
News about Theme Parks and their parent companies.
1 post • Page 1 of 1
- Permanent Fixture
- Posts: 10488
- Joined: Fri Nov 05, 2004 4:45 pm
- Park: DLR
- Department: Fruity Drink Land
- Position: Mai Tai Face Plant
- Location: 717 Miles NNW Of DLR
Don't be fooled by appearances. In Hawaii, some of the most powerful people look like bums and stuntmen.
--- Matt King
Today is the youngest you will ever be. Live like it.