Deepening the financial gloom at the Magic Kingdom just outside Paris, Euro Disney SCA said Wednesday that its first-quarter net loss widened to $93.7 million from $71.7 million for the same period the previous year.
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The company, which runs the Euro Disneyland theme park 18 miles east of Paris, blamed the deterioration on a drop in operating revenues from October-December.Euro Disney reported a stunning loss of 5.34 billion francs ($905 million) for its first full fiscal year of operation through Sept. 30. The park, which opened in April 1992, said while attendance was on track, people were spending less money and fewer were staying at Euro Disneyland's hotels than expected.