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.