When Will Disney World Announce a Fifth Theme Park?
Walt Disney (NYSE: DIS) CEO Bob Iger tossed out a pretty big number during this week's annual meeting of shareholders. Asked about the run-ins that the media giant has had with Florida Gov. Ron DeSantis over the past year, Iger chose to play the lobby card.
Iger voiced his frustration with the state retaliating against the House of Mouse, arguing that Disney is Florida's largest taxpayer. He also mentioned that Disney expects to spend another $17 billion to expand its Florida resort in the next decade. It's a smart approach, taking the high road of flexing what Disney can do for Florida instead of loading its quiver with zingers.
Iger's diplomatic approach in tackling some of the meeting's thorniest shareholder questions during the session's Q&A component was artful. He was able to -- wait. Did he really say $17 billion dollars in the next 10 years? Disney spends a lot of money on its gated attractions in Florida. It just invested heavily over the past 18 months to create new experiences and attractions for its guests to enjoy as Disney World celebrated its golden anniversary. Is something even bigger on the way? Is the world's leading theme park operator finally going to develop a fifth theme park at Disney World?
Source Fool.com
