Deal over expansion of Hong Kong Disneyland could happen soon

CNBC is reporting that Disney and the Chinese Government may have made some significant progress involving a deal to build a major expansion at Hong Kong Disneyland. According to the report, the Chinese government is "happy with the progress achieved at the negotiations regarding Hong Kong Disneyland's expansion plans," said a spokesperson.

Disney and the Chinese have been in extended talks over the $387 million dollar plan to expand the park, which opened in 2005. A few weeks ago, when it appeared talks were stalling, Disney ordered Imagineering to stop working on expansion plans for Hong Kong Disneyland.

HKDL clears loans - makes room for expansions

CNBC is reporting that Hong Kong Disneyland (HKDL) has cleared their commercial loans of about $425 million, thanks to some help from the Walt Disney company. HKDL is a joint venture between Disney and the Chinese government, which handled most of the construction costs (estimated at $3.5 billion).

According to a spokesperson, this means HKDL can now focus on expanding the park, which currently only has four lands (Main Street, Adventureland, Fantasyland and Tomorrowland).

I guess this is good news for them. HKDL is a pretty small park, so whatever they can do to expand should help out.