Universal's Epic Universe General News & Discussion

[shiekra38]

CFO's speak to a different audience. Their job is the reassure investors that the company is taking measured actions and are able to flexibly respond to the current situation. His statement was an appropriate way to address future investments during an uncertain period. Wall street just wants to know that the company is being proactive and cautious.

What we know is that a lot of vendors who are working on this project have been temporarily shut down or are having challenges getting materials. Which lines up with everything we're hearing about a year delay. The CFO's statement can exist in the same world and is not contradictory to what we're hearing.

I read it as:
"Good morning, I'm here to reassure you that we will not be recklessly spending money while the economy is uncertain. We do not know the length of time this will occur, thank you"

So basically typical investment stuff you'd expect during uncertain times.

Also, were we ever really convinced about 2023? I always thought it was wishful thinking

Worst case scenario, we all know Nintentoland fits into the Kidzone plot haha

 

[JungleSkip]

Also, were we ever really convinced about 2023?

The company certainly was.

 

[shiekra38]

The company certainly was.

Until they hit a snag...It was a bullish timeline for sure

 

[TheWalkingDad]

Until they hit a snag...It was a bullish timeline for sure

Just to clarify, it (the opening) was discussed at an investor meeting, but never officially put out publicly or any other official capacity. So there's that. Not sure but, I believe they'll probably announce EU opening about 6 weeks after it actually opens. Which is just how Universal operates. It's no big deal and it covers their butts if they run into delays getting finished by a certain deadline. Biggest thing that bothers me is the Hollywood park and the Jurassic World ride. It wasn't announced, but had no business being opened when it was for the last major refurb. I think you'll be pleasantly surprised by what they're doing with it as of it's current refurb when it's finally reopened. I'll just say that the finale will blow your mind...and the predator cove should be much improved as well.

 

[Happytycho]

Until they hit a snag...It was a bullish timeline for sure

Theme parks aren't alone in experiencing delays due to COVID-19. And if 2023 wasn't realistic before and they're delaying at least a year, then now 2024 isn't realistic either.

Just to clarify, it (the opening) was discussed at an investor meeting, but never officially put out publicly or any other official capacity. So there's that. Not sure but, I believe they'll probably announce EU opening about 6 weeks after it actually opens. Which is just how Universal operates. It's no big deal and it covers their butts if they run into delays getting finished by a certain deadline. Biggest thing that bothers me is the Hollywood park and the Jurassic World ride. It wasn't announced, but had no business being opened when it was for the last major refurb. I think you'll be pleasantly surprised by what they're doing with it as of it's current refurb when it's finally reopened. I'll just say that the finale will blow your mind...and the predator cove should be much improved as well.

Universal later restated the 2023 date at an Orange County meeting, so I'd say it was unofficially official and wasn't just a rogue executive with an optimistic timeline.

 

[shiekra38]

Theme parks aren't alone in experiencing delays due to COVID-19. And if 2023 wasn't realistic before and they're delaying at least a year, then now 2024 isn't realistic either.

I think 2023 was wishful thinking, but not impossible for them
2024 is now a bit wishful thinking IMO, but not impossible

Temper expectations and we'll see....I would never put it past Universal to get something up quickly.

 

[Parkscope Joe]

I understand the hesitaton on 2023 being a real date, but it was. They were ramping up to start vertical the second half of this year.

 

[Scott W.]

I understand the hesitaton on 2023 being a real date, but it was. They were ramping up to start vertical the second half of this year.

A 3 year build from going vertical doesn't sound overly ambitious. Universal typically builds a new ride in under 2 years and that usually includes demo.

 

[Parkscope Joe]

A 3 year build from going vertical doesn't sound overly ambitious. Universal typically builds a new ride in under 2 years and that usually includes demo.

Yeah but a whole new park with new infrastructure is more complex.

 

[Scott W.]

Yeah but a whole new park with new infrastructure is more complex.

True but multiple things will be getting done at once.

Did we ever get a date when in 2023?

 

[Happytycho]

A 3 year build from going vertical doesn't sound overly ambitious. Universal typically builds a new ride in under 2 years and that usually includes demo.

Beijing went vertical in fall 2018 for a 2021 opening, so EU would have been following that timeline pretty closely if they went vertical this fall for a 2023 opening.

 

[PerceptiveCoot]

I'd rather they just start construction when they're ready and open when they're ready. Whether that takes three years or four years is up to the state of the economy and whatever random construction, test and adjust, and operational mishaps happen as they are building the parks. The last thing Universal should do is rush EU to meet some arbitrary deadline.

 

[Mad Dog]

The NY Times has a new mapping of where wealthy NYC residents went to flee the virus. The map earlier this week used smartphone data. This new map uses 'mail forwarding' requests to show where they went. Very interesting, and informative, read. "Where New Yorkers Moved to Escape Virus".

 

[Parkscope Joe]

True but multiple things will be getting done at once.

Did we ever get a date when in 2023?

I always heard early 2023, probably mirroring IoA's opening time frame. I could see them going late 2023 if we're looking at a six month delay. I could also see the park delayed 15 months till summer 2024.

 

[Happytycho]

I always heard early 2023, probably mirroring IoA's opening time frame. I could see them going late 2023 if we're looking at a six month delay. I could also see the park delayed 15 months till summer 2024.

Personally, I think 2023 is now off the table. I just don't see them resuming construction within FY 2020, which would mean a minimum delay of 9-10 months if they give the go-ahead in early Q1 2021. Thus we would be looking at an early 2024 opening at the soonest.

 

[shiekra38]

Personally, I think 2023 is now off the table. I just don't see them resuming construction within FY 2020, which would mean a minimum delay of 9-10 months if they give the go-ahead in early Q1 2021. Thus we would be looking at an early 2024 opening at the soonest.

Honestly, I'm ok with waiting if they avoid another VB situation

Granted, that was a theme park and Universal had never tackled a project like that minus pools at resorts

 

[joerodriguez]

The combination of a worsening economy plus today’s news of mass layoffs at Universal can’t be good for the future of the Epic Universe project. I just hope it doesn’t get scrapped all together.

 

[Magic-Man]

The combination of a worsening economy plus today’s news of mass layoffs at Universal can’t be good for the future of the Epic Universe project. I just hope it doesn’t get scrapped all together.

I don't think Epic Universe will get cancelled, but it would be hilarious if we ended up getting Super Nintendo World in Kidzone after all these years.

 

[Jamesh22]

I don't think Epic Universe will get cancelled, but it would be hilarious if we ended up getting Super Nintendo World in Kidzone after all these years.

Breaking news - EU cancelled, to be replaced by Kidzone as it has more longevity

 

[Magic-Man]

Breaking news - EU cancelled, to be replaced by Kidzone as it has more longevity

Ehh, it's 2020. I'm not surprised.