Genting Hong Kong continues to seek new sources of funding

The casino cruise ship operator has been deeply affected by restrictions due to the Covid-19 pandemic and is looking for new business opportunities to diversify.

Hong Kong.- Genting Hong Kong Limited is looking to diversify as it remains seriously affected by the suspension of Crystal Cruises and Star Cruises operations due to the Covid-19 pandemic.

The company has reported that revenue decreased to US$182.3m for H1, while the company’s consolidated operating loss was US$258.6m. As a result, the casino cruise ship operator is actively looking for new funding sources due to the uncertainty surrounding the appearance of new outbreaks of Covid-19 in the region.

The cruise ship operator resumed sailings in Hong Kong on July 30 after having all of its staff vaccinated against Covid-19 as required by the Hong Kong government. Passengers must be fully vaccinated before sailing. 

In May, the company reported that it had reached a recapitalisation proposal with stakeholders to access a new US$261.5m loan, which includes a small stake in the company, to finish construction of its Crystal Endeavor and Global Dream vessels.