The Company of casino cruises confirmed the operation that will sell the Genting Dream Vessel this month.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Casino ships operator and investor Genting Hong Kong Ltd has confirmed the sale of\u00a0its Genting Dream vessel for a total sum of US$900 million. <\/p>\n\n\n\n
The payment will be made once the deal completes \u201con or around 15 January 2020,\u201d Genting Hong Kong confirmed in a statement. The deal includes a leaseback agreement for a period of 12 years, commencing from the date the ship is delivered to the purchasers.<\/p>\n\n\n\n
“As at the date of this announcement, both the first valuation and the second valuation have been obtained. Accordingly, the closing market value shall be the arithmetic average of the first valuation and the second valuation (which is US$1,147.5 million) and the consideration shall be US$900 million\u201d, the company said this week.<\/p>\n\n\n\n
Genting Dream, the first ship of the Dream Cruises brand, made its maiden voyage in April 2017. The vessel is one of three existing cruise ships operated under the Dream Cruises business. As of June 30, the unaudited net asset value of the vessel was approximately US$862.5 million, according to a previous filing.<\/p>\n\n\n\n
Genting Hong Kong has been seeking funds to finance the expansion of its cruise business. The company has developed a three-brand cruise portfolio with a focus on different market segments: Crystal Cruises for what it terms the ultra-luxury segment; Dream Cruises for what it describes as the premium segment; and Star Cruises for what it defines as the contemporary segment.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The Company of casino cruises confirmed the operation that will sell the Genting Dream Vessel this month.<\/p>\n","protected":false},"author":2,"featured_media":2076,"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 Ltd has confirmed the sale of its Genting Dream vessel for US$900 million, with a concurrent 12-year leaseback agreement, to be completed by January 15, 2020. This strategic divestment aims to finance the expansion of the company's three-brand cruise portfolio, which includes Crystal Cruises, Dream Cruises, and Star Cruises.","focusai_entities":"Genting Hong Kong Ltd, Genting Dream, Dream Cruises, Crystal Cruises, Star Cruises","focusai_location":"Hong Kong","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Impact on Capital Structure?","query":"How will the US$900 million asset sale and 12-year leaseback agreement impact Genting Hong Kong's debt-to-equity ratio and overall capital structure, particularly in financing its stated expansion objectives?"},{"label":"Strategic Rationale for Leaseback?","query":"What is the strategic rationale behind opting for a leaseback agreement rather than an outright sale, and how does this align with Genting Hong Kong's long-term operational control and asset-light strategy for its cruise brands?"}],"footnotes":""},"categories":[160,157,16338],"tags":[29,1619],"class_list":["post-2071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-east-asia-news","tag-casino","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2071","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=2071"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2071\/revisions"}],"predecessor-version":[{"id":2089,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2071\/revisions\/2089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/2076"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=2071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=2071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=2071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}