{"id":16524,"date":"2021-04-01T16:03:31","date_gmt":"2021-04-01T16:03:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16524"},"modified":"2026-04-23T20:38:58","modified_gmt":"2026-04-23T23:38:58","slug":"genting-hong-kong-reports-us1-72bn-loss-in-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-reports-us1-72bn-loss-in-2020","title":{"rendered":"Genting Hong Kong reports US$1.72bn loss in 2020"},"content":{"rendered":"\n<p>Casino cruise ship operator Genting Hong Kong has reported a loss of US$1.72bn for the year ending December 31 2020 due to the impact of the Covid-19 pandemic.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Hong Kong.- Casino cruise ship operator<strong>\u00a0Genting Hong Kong Limited\u00a0<\/strong>has reported a <strong>net loss of US$1.72bn for 2020<\/strong>. That compares to <strong>a loss of US$158.6m in 2019<\/strong>.<\/p>\n\n\n\n<p>The company <strong>reported a 76.5 per cent year-on-year decline in revenue <\/strong>to US$366.8m. <\/p>\n\n\n\n<p>It said it believes<strong> lenders will support a restructuring of its outstanding debts<\/strong>.\u00a0<\/p>\n\n\n\n<p>In August 2020,<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-hk-to-restructure-debts-with-creditors\"><em>\u00a0the group held an online meeting for creditors to define the restructuring of debts<\/em><\/a>\u00a0and temporarily suspended all payments to the group\u2019s financial creditors to preserve liquidity.<\/p>\n\n\n\n<p>Genting Hong Kong also reported <strong>an adjusted EBITDA loss of US$385.8m <\/strong>compared to a positive EBITDA of US$142.5m in 2019.<\/p>\n\n\n\n<p>The Casino cruise ship operator stated: &#8220;It may take a longer time for <strong>the Group\u2019s overall performance to return to pre-Covid-19 levels<\/strong>, and the new normal in the global travel business landscape will derail the previously projected performance.\u00a0<\/p>\n\n\n\n<p>&#8220;The Group will<strong> continue to adapt its deployment plans<\/strong> as we navigate our business cautiously through a highly fluid environment in 2021.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Casino cruise ship operator Genting Hong Kong has reported a loss of US$1.72bn for the year ending December 31 2020 due to the impact of the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":16525,"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 Limited reported a substantial net loss of US$1.72bn for the fiscal year ending December 31, 2020, a significant increase from 2019, primarily attributable to the severe impact of the COVID-19 pandemic on its casino cruise operations. The company experienced a 76.5% year-on-year revenue decline and an adjusted EBITDA loss, necessitating debt restructuring efforts and leading to a cautious outlook regarding recovery to pre-pandemic performance levels. Management anticipates a prolonged period for market normalization and is adapting deployment plans within a highly fluid operational environment.","focusai_entities":"Genting Hong Kong Limited","focusai_location":"Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Debt Restructuring Terms?","query":"What specific terms are being negotiated in Genting Hong Kong's debt restructuring, and what is the projected impact on its capital structure, operational flexibility, and long-term solvency?"},{"label":"Gaming Vertical Diversification?","query":"Beyond the cruise segment, how are Genting Hong Kong's land-based or other gaming verticals performing, and what is the group's strategic roadmap for diversifying revenue streams and mitigating future market shocks in a post-pandemic environment?"}],"footnotes":""},"categories":[16338,163],"tags":[23716],"class_list":["post-16524","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\/16524","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=16524"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16524\/revisions"}],"predecessor-version":[{"id":16548,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16524\/revisions\/16548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16525"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}