The Hong Kong government, which holds 53 per cent of the park`s shares, was pressed by lawmakers last month to disclose details of its financial agreement with Walt Disney ? especially the amount of royalties and management fees paid.
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.
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.
0 comments:
Post a Comment