10-23-2008, 04:02 PM
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Disney bails out HKDL
Disney Co. bails out Hong Kong Disneyland
Hong Kong Disneyland firms up finances to boost expansion
AFP
Hong Kong Disneyland has switched its hefty commercial loans to its US parent company, a spokesman said Wednesday, bringing the theme park a step closer to much-needed expansion.
The park, which recently celebrated its third anniversary in the southern Chinese city, has switched 3.3 billion Hong Kong dollars (423 million US) of loans and credit with banks to the Walt Disney Company, the spokesman said. "We can now focus on the further development of the park and more expansion," the spokesman told AFP.
New Hong Kong Disneyland chief executive Andrew Kam said last month that expanding the park was a priority, as it aims to lure more visitors.
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