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Walt Disney Postpones California Theme Parks Reopening

disneythemeparks sept25 25jun20 lt

The Walt Disney Company (DIS) decided to delay the phased reopening of its California theme parks until it gets guidelines from the state government.

Disneyland Park and Disney California Adventure Park, located in Anaheim, California were scheduled to reopen on July 17, after remaining shut for months due to Covid-19. But the state of California has now indicated that it will not issue theme park reopening guidelines "until sometime after July 4," Disney reportedly said.

Meanwhile, Governor Gavin Newsom said on Wednesday that California state has seen a surge of 69% in new coronavirus cases in two days, and is prepared to "revert back" to more stringent restrictions.

Disney labour unions earlier had expressed their concern about the July reopening plan to the California governor.

The entertainment giant last month had said that the Covid-19 impact on its second-quarter income from continuing operations before income taxes across all of its businesses was as much as $1.4 billion.

Wednesday, Walt Disney stock was down $4.47 or 3.83% before closing at $112.07.

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