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What will be the impact on Disney's stock price by December 31, 2024, following the development deal?
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Disney•CFTOD•Florida•Ron DeSantis•Walt Disney World•Walt Disney World Resort•Orlando•First Amendment•DeSantis•Republicans
Resolution / Starting Odds
Increase > 10% • 33%
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Stock market data from exchanges like NYSE
Story
Disney and Florida Reach $17 Billion, 15-Year Development Deal, Ending 'Don't Say Gay' Dispute
Jun 13, 2024, 03:15 PM
Disney has reached a significant agreement with the Central Florida Tourism Oversight District (CFTOD) and Florida Governor Ron DeSantis, ending a two-year conflict sparked by the company's opposition to the 'Don't Say Gay' law. The deal includes a 15-year development plan for Walt Disney World, with Disney committing to invest up to $17 billion over the next 10-20 years, including at least $8 billion over the next decade. The agreement allows Disney to develop the Walt Disney World Resort near Orlando, potentially including the construction of a fifth theme park. This development follows Disney's decision to drop its federal appeal in its First Amendment lawsuit against DeSantis. Additionally, Disney has resumed handing out thousands of dollars in benefits to Florida lawmakers, including Republicans who supported the 'Don't Say Gay' law. The resolution of this dispute marks a new chapter in the relationship between Disney and Florida's political leadership.
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