The 2024 repurchase of the Ferris wheel was the first acquisition for Merlin Entertainments under the leadership of CEO Scott O'Neil, who joined the company in 2022.

The Orlando Eye by Merlin Entertainments is described as an observation wheel because it "is a stabilized-driven (capsule) that gives you a really smooth experience on the way around, so it doesn't feel like when you're at 400-feet, that you're swinging around in mid-air".

[1] According to its official website, the Orlando Eye is the first wheel ever to use such a system in combination with a suspended "ski lift capsule design".

[2] The wheel was reported to be in the early stages of planning in March 2011,[3] with completion due in mid-2014, and was approved by county commissioners in September 2012.

[9] On December 31, 2022, the wheel malfunctioned and suffered from a power failure around 6:20 p.m. Orange County fire crews had to rescue more than 60 people from the ride.