{"id":18434,"date":"2021-05-28T14:26:46","date_gmt":"2021-05-28T14:26:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18434"},"modified":"2026-04-23T19:06:44","modified_gmt":"2026-04-23T22:06:44","slug":"genting-hong-kong-to-resume-operations-from-july","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-to-resume-operations-from-july","title":{"rendered":"Genting Hong Kong to resume operations from July"},"content":{"rendered":"\n

The Hong Kong government has allowed Genting Hong Kong to resume sailings in Hong Kong from July.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- Casino cruise ship operator\u00a0Genting Hong Kong Limited\u00a0<\/strong>has been allowed to resume the Genting Dream<\/strong>‘s cruises in Hong Kong from the end of July.<\/p>\n\n\n\n

The company has been\u00a0in talks with authorities<\/strong>, intending to resume domestic cruise operations in various key markets.<\/p>\n\n\n\n

Kent Zhu, president of Genting Dream Cruises, said: “We will mobilise our resources across the region to\u00a0bring Genting Dream into Hong Kong by June to begin her quarantine process\u00a0<\/strong>so that she will be ready for July sailings in time for the summer holidays.\u201d<\/p>\n\n\n\n

Genting Hong Kong will\u00a0only operate with vaccinated passengers and at 50 per cent of its capacity<\/strong>, with no port visits.<\/p>\n\n\n\n

The company<\/a> has recently published its audited 2020 results and expressed some concern regarding 2021<\/strong>.<\/p>\n\n\n\n

In 2020,\u00a0Genting Hong Kong<\/a>\u2018s revenue fell from US$1.56bn to US$366.8m<\/strong>\u00a0mainly due to the Covid-19 pandemic and the resulting suspension of cruise operations. The company reported a\u00a0net loss of US$1.72bn for 2020<\/strong>, which compares to\u00a0a loss of US$158.6m in 2019<\/strong>.<\/p>\n\n\n\n

As for the second half of 2020, Genting Hong Kong reported that total revenue <\/strong>was down from US$831.8m to US$140.6m. It reported a net loss of US$973m <\/strong>compared to US$102.1m in H2 2019.<\/p>\n\n\n\n

Genting Hong Kong had restarted sailings with\u00a0reduced capacities in Taiwan and Singapore,\u00a0<\/strong>but operations were suspended in the former until at least June 8 due to a rise in Covid-19 cases.<\/p>\n\n\n\n

In Singapore<\/strong>, Genting Hong Kong reduced the capacity of its cruise from 50 per cent to 25 per cent<\/strong> following the announcement of new restrictions from May 16 to June 13.<\/p>\n\n\n\n

The group is\u00a0seeking to reengineer its cost structure and efficiency\u00a0<\/strong>to improve performance and profitability. It could implement a restructuring proposal by the end of the first half of 2021.<\/p>\n\n\n\n

Last year, it announced it had\u00a0decided to temporarily suspend all payments<\/strong>\u00a0to financial creditors.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Hong Kong government has allowed Genting Hong Kong to resume sailings in Hong Kong from July.<\/p>\n","protected":false},"author":176,"featured_media":18435,"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 received approval to resume its Genting Dream cruise operations in Hong Kong from July, albeit with strict protocols including vaccinated passengers and 50% capacity. This development comes as the company navigates severe financial distress, reporting a US$1.72bn net loss in 2020 due to the pandemic, and is actively pursuing cost restructuring and a potential financial restructuring proposal.","focusai_entities":"Genting Hong Kong Limited, Genting Dream Cruises, Kent Zhu","focusai_location":"Hong Kong, Taiwan, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.8), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting Restructuring Impact","query":"What are the specific terms of Genting Hong Kong's proposed restructuring, and how might they impact its long-term debt obligations and equity structure?"},{"label":"Cruise Market Recovery","query":"Given the varying regulatory environments in Hong Kong, Taiwan, and Singapore, what is the projected timeline for Genting Hong Kong to achieve pre-pandemic operational capacity and profitability across its key Asian markets?"}],"footnotes":""},"categories":[16338,23876],"tags":[23716],"class_list":["post-18434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-social-news","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18434","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=18434"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18434\/revisions"}],"predecessor-version":[{"id":18440,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18434\/revisions\/18440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18435"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}