Disney announced on Wednesday that it's bringing a new theme park resort to Abu Dhabi through a partnership with immersive destination company Miral, according to CNBC. Disney’s seventh theme park resort will be fully developed and funded by Miral on Yas Island in Abu Dhabi. Disney will provide creative design and operational oversight through its Imagineering team but will not invest capital, instead earning royalties from the project. The announcement followed Disney’s fiscal second-quarter earnings beat and a 6% year-over-year revenue increase in its experiences segment. Executives emphasized the strategic location, noting that one-third of the global population lives within a four-hour flight of the UAE.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Disney announced on Wednesday that it's bringing a new theme park resort to Abu Dhabi
00:06through a partnership with immersive destination company Meryl, and according to CNBC,
00:11Disney's seventh theme park resort will be fully developed and funded by Meryl on Yoss Island in Abu Dhabi.
00:17Disney will provide creative design and operational oversight through its Imagineering team,
00:21but will not invest capital, instead earning royalties for the project.
00:25The announcement followed Disney's fiscal second quarter earnings beat
00:28and a 6% year-over-year revenue increase in its experiences segment.
00:33The second has emphasized the strategic location,
00:35knowing that one-third of the global population lives in a four-hour flight of the UAE.
00:39For all things money, visit Benzinga.com slash GSTV.