Genting outdoor theme park opened over CNY

    Casino operator Genting Malaysia partially opened its outdoor theme park during Chinese New Year, allowing visitors to walk around the theme park, according to analysts from Maybank Research.

    The fact that Genting Malaysia was able to open the doors of the park at all without an injunction from Fox and Disney is seen by the analysts as a positive for Genting.

    “This implies that GENM may be able to proceed to either operate the Outdoor Theme Park (OTP) by itself or partner other studios,” said Maybank in a note on Monday.

    Visitors were reportedly able to walk around the OTP and buy food and beverages from food trucks – however, no rides were running during the opening period.

    There have been fears that the ongoing legal battle between Walt Disney’s Fox Entertainment Group and Genting Malaysia would affect the operator’s freedom to operate the theme park, which was previously known as 20th Century Fox World.

    In November, Genting filed a lawsuit against Fox and Walt Disney Co., claiming that the companies went back on its deal to open a Fox theme park in its Malaysia property, and is seeking $1 billion for the cost of its investments and damages.

    Last month, Fox Entertainment Group, together with Twenty First Century Fox Inc (21CF) and The Walt Disney Company filed a reply to the November lawsuit and also filed a counterclaim against Genting Malaysia, alleging breach of contract and breach of the implied covenant of good faith and fair dealing.

    The company is claiming a monetary sum of approximately $46.4 million in respect of annual license fees, guarantee amounts or royalties and travel reimbursements, as well as consequential damages, reasonable costs, and other relief.