Technology company Comcast confirmed its purchase of the 475 acres of land located near its theme park in Universal Orlando for the price of $130 million.
According to the report from The Real Deal, the purchase might be the gateway for a wider and bigger themed park in the future. It was yet to be confirmed based on the reports the exact location but according to the company's lobbyist, an option would be 2 miles south part of Universal Orlando.
During the latest quarter, Comcast reported a 15 percent growth in revenue every year. It seems that the company is having incentives to widen the presence of its theme park in Universal Orlando. Aside from that, its on-site hotel which is its fifth is set to open this summer on the same area.
In 2005, Comcast offered a $54 million worth of buyout bid from Disney in which the latter rejected. Since then, Comcast has stretched out its area quickly in this type of business. On the other hand, Disney's revenue through its theme park has soared at a moderate pace.
Undercover Tourist reported in an article that executives at Comcast has yet to confirm their plans for the land but instead revealed that the move was a strategic one for their long-term goals. NBC Universal head Steve Burke added that with the 475 acres of land, there are a lot that can be done but they don't have firm plans yet. One thing is for sure though, it would be for such significant developments in the area. It could be a spot where hotels can rise, an extension of theme parks and so much more.
At the moment, Universal is doing its two huge development projects. These include the Loews Sapphire Falls Resort which is set to open for the public in spring time and the water-themed park, Volcano Bay slated to be out by next year.