Could 6, 2023, 5:15 PM ·
Walt Disney World is not the only theme park firm possessing federal government concerns these times. Across the country in San Diego, the city authorities there has a $10 million issue with the unique SeaWorld park.
The City of San Diego claims that the Mission Bay theme park owes more than $10 million in back again lease, courting from the pandemic begin in 2020. SeaWorld does not personal the land it sits on in San Diego, and leases its home from the city.The park’s offer with the city necessitates that it pay a share of its gross money each and every 12 months as rent. Naturally, income stopped coming in during the lockdown, and San Diego suspended rent payments from its lessees.
But, in accordance to media stories, the city claims its offer with SeaWorld demands the park to make a least payment each year, irrespective of cash flow. That’s the quantity in dispute now, plus curiosity and late costs. SeaWorld claims that there’s no challenge, but town officials want the park to spend the cash that they say the metropolis is owed.So much, the metropolis is stating that it will increase its lease deferral software to SeaWorld, which the metropolis says is its only lessee in default on its rent payments. But the metropolis says that SeaWorld has declined to make its payments.In a assertion, a SeaWorld agent told local repotrters, “the Metropolis of San Diego has been a fantastic partner of ours over the many years, and we proceed to perform with them in an attempt to take care of this difficulty.”For more theme park news, you should indicator up for Theme Park Insider’s weekly newsletter.