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Disneyland and Walt Disney World remain closed due to corona virus

Disney (DIS) Earlier this month, Disneyland and Walt Disney World were announced to be the only two of Disney’s eleven parks around the world that were still open during the global pandemic. The company originally planned to keep the US parks closed until the end of March.
The expanded closure announced on Friday underscores the impact on travel and tourism as government and health officials urge people to stay at home to stop the spread of the coronavirus outbreak.

It’s not just Disney – the Santa Anita Park circuit in Los Angeles has also announced that it will be temporarily closed to live horse racing on a mandate from county officials. The more than 1

,700 horses housed in the park are looked after by 750 members of the backstretch team, most of whom live on site and work under new security measures, the course owners said in a statement.

The continued closure of its theme parks is important to Disney. The parks are a major revenue driver for the entertainment company: Disney generated more than $ 26 billion in revenue in the Parks, Experiences and Products division in fiscal year 2019, representing 37% of the company’s total revenue.

“The safety and wellbeing of our guests and employees continue to be top priorities for the Walt Disney Company,” the company said in its statement on Friday.

Disney’s shares fell 8.5% on Friday.

The closure takes place at a time of the big transition for Disney. Last month, Bob Iger stepped down as CEO of the company and appointed Bob Chapek as his successor, whose previous role was the chair of Disney Parks.

The company has urged its domestic employees at Walt Disney Studios, Walt Disney Television, ESPN and the direct consumer, park and product departments to work from home during the Corona virus outbreak.

Correction: In an earlier version of this story, the owner of the Santa Anita circuit was misrepresented.

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