As usual, Harry Potter continues to be a sure bet for Comcast Corp.'s theme park ventures.
Comcast (Nasdaq: CMCSA) on Wednesday shared that the NBCUniversal theme parks division, which includes Universal Orlando Resort, earned more than $3.3 billion in revenue for the year, up 27.3 percent from $2.62 billion in 2014. Fourth-quarter revenue also climbed 38.6 percent to $1 billion, compared to $735 million for the same quarter in 2014.
Year-end operating cash flow took a huge leap for the theme parks, reaching $1.46 billion, up 33.5 percent from $1.09 billion in 2014. Fourth-quarter cash flow increased 36.6 percent to $452 million compared to $330 million for the same quarter in 2014.
Comcast executives said the jumps are due to increased attendance and guest spending at the theme parks. In addition, the company said attendance at its seasonal events like Halloween Horror Nights also helped the boost.
That success will continue, as Universal Orlando Resort is in the midst of building new attractions and experiences like a new King Kong ride and the Volcano Bay water park.
In addition, Comcast confirmed it has acquired 475 acres of land near one of its theme parks. Executives did not clarify which park it was near, but the announcement may finally confirm rumors that the company wanted to buy land along Universal Boulevard.
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Source: Orlando Sentinel