The Walt Disney Co. (DIS) - Get Report on Thursday announced the temporary closure of the Disneyland Resort and the Disney California Adventure Park in Anaheim in response to the threat posed by the coronavirus pandemic.
"While there have been no reported cases of Covid-19 at Disneyland Resort, after carefully reviewing the guidelines of the Governor of California’s executive order and in the best interests of our guests and employees, we are proceeding with the closure of Disneyland Park and Disney California Adventure…” the company said.
Shares of Disney fell 13% in regular trade Thursday, amid steep declines on the broader market, and the stock was down another 1% in after-hours trade.
The park closure will go into effect Saturday and last through the end of March.
Disney said the resort will “work with guests who wish to change or cancel their visits, and will provide refunds to those who have hotel bookings during this closure period.”
While Disneyland does not reveal daily attendance numbers, according to the Los Angeles Times, theme park experts estimate that the 85-acre park draws an average of about 44,000 people a day.
On Wednesday, California Gov. Gavin Newsom and top health officials said Californians should cancel or postpone events with more than 250 people, while smaller gatherings should space people at least 6 feet apart to avoid spreading coronavirus.