Hong Kong Disney sends billions of dollars back to US

News about Theme Parks and their parent companies.
Post Reply
User avatar
hobie16
Permanent Fixture
Permanent Fixture
Posts: 10468
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

Hong Kong Disney sends billions of dollars back to US

Post by hobie16 » Tue Feb 28, 2017 1:33 pm

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.


Image

Don't be fooled by appearances. In Hawaii, some of the most powerful people look like bums and stuntmen.
--- Matt King

Post Reply