Walt Disney Co. Already Expanding Shanghai Disney Resort, Says Bob Iger

[rteetz]

$800 million in unaccounted money given to Shanghai... Disney did report that but didn't give specifics which shows it wasn't for "more experiences".

 

[luisov]

$800 million in unaccounted money given to Shanghai... Disney did report that but didn't give specifics which shows it wasn't for "more experiences".

Yep. More experiences was basically a nice way for saying ''Our Chinese contractors don't follow the quality standards of American constructions, so now we have to re-build a good chunk of the park''

Who knows... If everything had gone as planned, Shanghai could've gotten Everest or at least some other decent attraction.

 

[midaroco]

Why would Disney release that info? That would lead to huge bad PR. Disney added $800 million publically for "more experiences" but more experiences were never added. That in itself proves overruns.

I may have missed the source for your original statement?

 

[rteetz]

I may have missed the source for your original statement?

http://deadline.com/2014/04/bob-iger-shanghai-disney-resort-investment-disney-800-million-720914/

That's just one of several sources. Disney publically said they were giving Shanghai $800 million more but that $800 million didn't add anything like Disney said it was going to. That extra money was to cover budget overruns and make sure the park wasn't delayed further.

 

[midaroco]

http://deadline.com/2014/04/bob-iger-shanghai-disney-resort-investment-disney-800-million-720914/

That's just one of several sources. Disney publically said they were giving Shanghai $800 million more but that $800 million didn't add anything like Disney said it was going to. That extra money was to cover budget overruns and make sure the park wasn't delayed further.

Your original statement was:

"While true cost overruns in China are affecting some of the things in the US. They have scaled back domestically more than they would've if there wasn't cost overruns in China. It is what it is though."

The article you linked is 2 years old, though I'm missing where it states anything about overruns affecting the US parks and discussion around scaling back the US parks, overall?

The article does state that Disney would be investing an additional $344 million, not $800 million, based on their ownership percentage in the park.

"Disney owns 43% of the still under construction resort with local partner Shanghai Shendi Group having the other 57%.The new investment announced today is coming proportionately from both parties based on their percentage of ownership."

 

[piccolopat]

Maybe they should build a park in Brazil!

 

[rteetz]

Your original statement was:

"While true cost overruns in China are affecting some of the things in the US. They have scaled back domestically more than they would've if there wasn't cost overruns in China. It is what it is though."

The article you linked is 2 years old, though I'm missing where it states anything about overruns affecting the US parks and discussion around scaling back the US parks, overall?

The article does state that Disney would be investing an additional $344 million, not $800 million, based on their ownership percentage in the park.

"Disney owns 43% of the still under construction resort with local partner Shanghai Shendi Group having the other 57%.The new investment announced today is coming proportionately from both parties based on their percentage of ownership."

Yes that was my original statement. As it was pointed out Disney would never release info that th park is over budget.

There are plenty of threads on the dis that show Disney scaling hings back and making cuts. Disney isn't going to admit to that, no company ever would.

I am aware Disney owns 43% and that $800 million isn't all from them. That's still $800 million that didn't do towards additional attractions.

 

[midaroco]

Yes that was my original statement. As it was pointed out Disney would never release info that th park is over budget.

There are plenty of threads on the dis that show Disney scaling hings back and making cuts. Disney isn't going to admit to that, no company ever would.

I am aware Disney owns 43% and that $800 million isn't all from them. That's still $800 million that didn't do towards additional attractions.

That's cool. I figured the statement was speculative, just looking to ensure I'd not missed something as I'd not seen the information prior. Thanks!