Posted Friday, January 29, 2021 9:49 AM | Contributed by BrettV
From the press release:
4th Quarter 2020 Highlight: Theme Parks Reached Breakeven Excluding Universal Beijing Resort Pre-Opening Costs and Despite the Continued Closure of Universal Studios Hollywood
Theme Parks revenue decreased 62.9% to $579 million in the fourth quarter of 2020, primarily due to Universal Orlando Resort and Universal Studios Japan operating at limited capacity, while Universal Studios Hollywood remains closed as a result of COVID-19. Theme Parks Adjusted EBITDA loss was $15 million in the fourth quarter of 2020, which included pre-opening costs related to Universal Beijing Resort.
For the twelve months ended December 31, 2020, revenue from the Theme Parks segment decreased 68.9% to $1.8 billion compared to 2019, primarily due to the temporary closures of Universal Studios Japan in late February and Universal Orlando Resort and Universal Studios Hollywood in mid-March as a result of COVID-19. Theme Parks Adjusted EBITDA loss was $541 million.
Read the entire press release on Business Wire.
Wow. If you can break even in that quarter, imagine how damn much money you're making when things are normal. That's Scrooge McDuck level of profit.
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