Report: Hong Kong government not keen to fund Disneyland expansion
The Associated Press
Published: October 3, 2007
HONG KONG: Hong Kong Disneyland is unlikely to receive more money from the local government to fund new attractions because of disappointing attendance at the theme park since it opened two years ago, a local newspaper reported Wednesday.
A spokeswoman for the park, a joint venture between The Walt Disney Co. and the Hong Kong government, said it is still discussing financing options with the government.
Hong Kong's Apple Daily newspaper reported Wednesday the local government, instead of providing fresh cash, is inclined to give the park more land, or sell down its stake in Hong Kong Disneyland for cash to reinvest in the park. All land in Hong Kong is technically owned by the government and leased to commercial developers on long-term contracts.
The government believes the Hong Kong public will not support fresh spending on the park because of its unsatisfactory results, the paper said.
Hong Kong's Commerce and Economic Development Bureau had no immediate comment on the report.