{"id":15858,"date":"2021-03-15T16:56:04","date_gmt":"2021-03-15T16:56:04","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15858"},"modified":"2026-04-23T21:06:02","modified_gmt":"2026-04-24T00:06:02","slug":"genting-hong-kong-expects-us1-5bn-net-loss-for-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-expects-us1-5bn-net-loss-for-2020","title":{"rendered":"Genting Hong Kong expects US$1.5bn net loss for 2020"},"content":{"rendered":"\n

Casino cruise ship operator Genting Hong Kong expects to report a net loss of at least US$1.5bn due to the impact of Covid-19.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- Casino cruise ship operator Genting Hong Kong Limited<\/strong> has said it expects to post a consolidated operating loss of US$600m and a consolidated net loss of no less than US$1.5bn<\/strong> for the year ending December 31 2020.<\/p>\n\n\n\n

In 2019, the group\u2019s consolidated operating loss was of US$96m<\/strong> and the consolidated net loss US$159m<\/strong>.<\/p>\n\n\n\n

The company said the suspension of fleet-wide operations <\/strong>for Dream Cruises, Crystal Cruises and Star Cruises was the main reason for the increased losses.<\/p>\n\n\n\n

Last year, Genting Hong Kong suspended all payments<\/strong> to the group\u2019s financial creditors in an effort to preserve liquidity. The company also received a subsidy from the German Covid-19 stabilisation fund<\/a><\/em> to continue operating.<\/p>\n\n\n\n

The Casino cruise ship operator is currently negotiating to start sailings with its Crystal Serenity ship from Nassau and Bimini<\/strong> in the Bahamas as of July 2021.<\/p>\n\n\n\n

The company stated in a press release: “With the resumption of Crystal Serenity, Genting Cruise Lines will have 41 per cent of its entire fleet in operation<\/strong> (based on total lower berths), the highest proportion of all cruise companies in the world, following the restart of Dream Cruises\u2019 Explorer Dream in July 2020 in Taiwan and World Dream in Singapore in November 2020.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Casino cruise ship operator Genting Hong Kong expects to report a net loss of at least US$1.5bn due to the impact of Covid-19.<\/p>\n","protected":false},"author":176,"featured_media":15860,"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 anticipates a net loss of at least US$1.5bn for 2020, a substantial increase from 2019, primarily due to the fleet-wide suspension of its Dream, Crystal, and Star Cruises operations amidst the Covid-19 pandemic. The company, which previously suspended creditor payments and received German state aid, is now negotiating the resumption of Crystal Serenity sailings from the Bahamas, aiming to have 41% of its fleet operational.","focusai_entities":"Genting Hong Kong Limited, Dream Cruises, Crystal Cruises, Star Cruises, Genting Cruise Lines","focusai_location":"Hong Kong, Bahamas, Nassau, Bimini, Germany, Taiwan, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Liquidity & Debt Restructuring","query":"What is the current status of Genting Hong Kong's negotiations with financial creditors, and what are the potential implications for its capital structure and future debt servicing capabilities?"},{"label":"Operational Recovery Strategy","query":"Beyond the stated 41% fleet operation, what are Genting Hong Kong's projected timelines and market-specific strategies for achieving full operational capacity across its Dream, Crystal, and Star Cruises brands, considering evolving global travel restrictions?"}],"footnotes":""},"categories":[16338,163],"tags":[23716],"class_list":["post-15858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15858","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15858"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15858\/revisions"}],"predecessor-version":[{"id":15887,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15858\/revisions\/15887"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15860"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}