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PUBLISHED 9:30 AM ET Oct. 24, 2019PUBLISHED 9:30 AM EDT Oct. 24, 2019

Download x plane for macdownzup. ORLANDO, Fla. — Universal's new theme park, Epic Universe, is expected to open in Orlando in 2023.

  • Universal's Epic Universe expected to open in 2023
  • The new park will feature rides, restaurants, hotels, more
  • Unviersal parks generated $1.6 billion in 3rd quarter of 2019
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That bit of information was revealed Thursday during a Comcast earnings call.

'We recently announced we're doing a fourth gate in Orlando in 2023,' one executive said when talking about the company's theme park division.

'Gate' is an industry term for park.

In August, Universal officially announcedplans for a new theme park. Epic Universe will be built just south of Universal Orlando's current parks: Universal Studios Florida, Islands of Adventure, and Volcano Bay water park. The new theme park will feature new rides, attractions, hotels, restaurants, and more.

More than 14,000 jobs are expected to be created from the new park.

Theme parks are big business for Comcast, parent of NBCUniversal, which oversees Universal Parks & Resorts. In fact, the parks division brought in $1.63 billion, a 6.8 percent increase, in the third quarter.

Executives also said attendance increased at the parks, but the boost was mostly because of severe weather that negatively affected attendance at Universal Studios Japan in the same quarter last year.

Universal's expansion plans comes amid increased competition in the Orlando-area market, which had a record 75 million visitors last year.

In August, Disney World opened Star Wars: Galaxy's Edge, its billion-dollar land at Disney's Hollywood Studios. The land's second attraction, Star Wars: Rise of the Resistance, is expected to open in December. Disney is also working on a multi-year upgrade of Epcot, which will include new rides, shows, restaurants, and a redesigned entrance.

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Meanwhile, SeaWorld Orlando is building a new coaster called Ice Breaker, which is expected to open spring 2020.

Attractions Insider is your all-in-one source for everything you need to know about Florida's theme parks. Get news, deals, specials, photo galleries, video, and more in our Attractions Insider special section!

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