The company has signed an agreement to sell a stake in its Macau hotel to increase liquidity.<\/p>\n\n\n\n\n\n\n\n
Macau.- Genting Hong Kong has announced it will sell a 50 per cent stake in Genting Macau Holdings Ltd, a subsidiary involved in the development of a hotel in Macau. <\/p>\n\n\n\n
According to a filing, the agreement is worth HKD750m (US$96.7m). <\/p>\n\n\n\n
The subsidiary, via a unit called Treasure Island Entertainment Complex Ltd, controls a 75-per cent stake in Treasure Island.<\/p>\n\n\n\n
The buyer is Star Cruises Asia Holding Ltd, a direct wholly-owned subsidiary of Genting Hong Kong and the purchaser, White Supreme Corp.<\/p>\n\n\n\n
The agreement includes call and put options for the remaining 50 per cent stake in Genting Macau.<\/p>\n\n\n\n
The company said the operation was \u201caligned with the group\u2019s objective to sell non-core assets\u201d and that it would \u201creduce the group\u2019s financial burden in meeting future funding requirements in relation to Genting Macau\u2019s business.\u201d<\/p>\n\n\n\n
It said: \u201cThe transaction will increase the liquidity of the group, with the proceeds being used for general working capital for the group, thereby enabling layup of the cruise ships in its fleet which are not in operation as well as the ongoing operation of those cruise ships that continue to sail, in addition to funding the group\u2019s cruise-related and other operations.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The company has signed an agreement to sell a stake in its Macau hotel to increase liquidity.<\/p>\n","protected":false},"author":2,"featured_media":11685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Hong Kong has announced the divestment of a 50% stake in its Macau hotel development subsidiary, Genting Macau Holdings Ltd, for HKD750m (US$96.7m). This strategic transaction aims to enhance the group's liquidity and reduce financial burdens associated with non-core assets. Proceeds will be allocated to general working capital, cruise ship operations, and other cruise-related ventures.","focusai_entities":"Genting Hong Kong, Genting Macau Holdings Ltd, Treasure Island Entertainment Complex Ltd, Treasure Island, Star Cruises Asia Holding Ltd, White Supreme Corp","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.7), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting HK Strategy Impact?","query":"What is the long-term strategic implication of Genting Hong Kong's non-core asset divestment strategy on its core cruise and gaming verticals?"},{"label":"Liquidity & Debt Impact?","query":"How will the increased liquidity from this transaction specifically impact Genting Hong Kong's debt restructuring efforts and operational sustainability amidst current market challenges?"}],"footnotes":""},"categories":[160,157,16338],"tags":[23716,257],"class_list":["post-11681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-east-asia-news","tag-genting-hong-kong","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11681"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11681\/revisions"}],"predecessor-version":[{"id":11701,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11681\/revisions\/11701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11685"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}