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Comcast Corp’s (NASDAQ:CMCSA) Universal division is reportedly exploring the possibility of developing a major new theme park in the U.K., potentially generating substantial economic benefits and job opportunities.
The proposed park is expected to create around 20,000 construction roles and 8,000 permanent jobs post-completion. The economic impact is projected to reach approximately £35.1 billion ($44.5 billion) over the construction phase and the first two decades of operation, reported Bloomberg.
Strategically positioned a mere 35-minute train ride north of London, the park could include a Harry Potter-themed land among other attractions, mirroring the success of Universal’s parks in Orlando, Florida.
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Page Thompson, president of new ventures at Universal, mentioned that the decision to proceed with the project will be made later this year, per the report. If approved, construction could span six to seven years, aiming for a 2030 opening.
In collaboration with the U.K.’s Department for Culture, Media and Sport, Comcast plans to enhance local infrastructure, including roads and train stations, to support the new park.
Comcast’s first-quarter revenue increased 1.2% year-over-year to $30.058 billion, beating the analyst consensus estimate of $29.811 billion. Earnings of $1.04 per share beat analyst estimates of 99 cents per share.
Comcast stock has lost more than 5% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Telecommunications ETF (BATS:IYZ) and Vanguard Communication Services ETF (NYSE:VOX).
Price Action: CMCSA shares closed lower by 0.21% at $38.40 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Photo via Wikimedia Commons
