Indirectly indicated as a possibility at Infinitus 2010 and now rumored on MuggleNet, Universal Orlando could be expanding the Wizarding World of Harry Potter theme park into the Lost Continent over the next 2-3 years.
It pains me a great deal to think about this possibility, but also excites me, too. I worked for almost a year on the Lost Continent project team; primarily responsible as a project engineer for all those game areas, the walk-up restaurants, and Sinbad's stunt arena, with some work on Dueling Dragons, also. It was an amazing experience and I'd hate to see the attractions "disappear" (or disapparate, as the case may be).
With that said, the Lost Continent is in need of some serious improvement on theming and direction. Right from the start, Universal didn't really seem to know what to do with the island. You have Poseidon's Fury (was supposed to be an "Atlantis" theme before Sea World came out with a similarly named ride around the same time) --- a Greek mythology god, random fairgrounds-style games, Sinbad --- a story of Middle East origin, and the Enchanted Oak (RIP) and Dueling Dragons --- generally fantasy story based. What's the theme? Is there a plot to this story? Even the restaurants we built changed "themes" at the last minute and we joked about it on the project team at the time.
The popularity of the new Harry Potter world demonstrates the need for more space and has some areas from the stories missing from the land --- Grimmauld Place? Diagon Alley? Privet Drive? What do you want to see in the new expansion? For me, more than anything, it would just be nice to have more space. One of my only complaints of Wizarding World of Harry Potter is that it's just too darn crowded, even when it's not that busy in the park.

