{"id":21700,"date":"2021-08-18T13:44:33","date_gmt":"2021-08-18T16:44:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21700"},"modified":"2026-04-23T16:31:54","modified_gmt":"2026-04-23T19:31:54","slug":"genting-hong-kong-expects-net-loss-of-us330m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-expects-net-loss-of-us330m-for-h1","title":{"rendered":"Genting Hong Kong expects net loss of US$330m for H1"},"content":{"rendered":"\n

Genting Hong Kong expects a net loss of nearly US$330m for the first half and a consolidated operating loss of US$280m.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- Casino cruise ship operator\u00a0Genting Hong Kong Limited\u00a0<\/strong>has reported that it expects to post\u00a0a consolidated operating loss of nearly US$280m and a net loss of US$330m\u00a0<\/strong>for the first half of the year, compared to US$323m and US$743m for\u00a0the first half of the previous year.<\/a><\/p>\n\n\n\n

Genting Hong Kong attributed the decrease to the\u00a0resumption of operations in Taiwan between July 2020 and May 2021<\/strong>\u00a0and in Singapore since November 2020. The company also reduced finance costs through debt restructuring\u00a0<\/strong>and continued control of headcount.<\/p>\n\n\n\n

Genting Hong Kong<\/strong>\u00a0said it had also received a share of the profit from Voyagers Universal Lodging Gather Inc, a partner that runs the Resorts World Manila casino resort in the Philippines capital,\u00a0amounting to approximately US$25m.<\/strong><\/p>\n\n\n\n

The cruise ship operator<\/a>\u00a0resumed sailings in Hong Kong on July 30 after having all of its staff vaccinated against Covid-19 as required by the Hong Kong government. Passengers must be fully vaccinated before sailing. As\u00a0previously reported<\/a>, Genting Hong Kong\u00a0operates at 50 per cent of its capacity<\/strong>. Trips don’t involve ports outside Hong Kong.<\/p>\n\n\n\n

In May, the company reported that it had reached a recapitalisation proposal<\/strong> with stakeholders to access a new US$261.5m loan<\/a>, which includes a small stake in the company, to finish construction of its Crystal Endeavor and Global Dream vessels. <\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Hong Kong expects a net loss of nearly US$330m for the first half and a consolidated operating loss of US$280m.<\/p>\n","protected":false},"author":176,"featured_media":20335,"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 H1 net loss of US$330m and an operating loss of US$280m, an improvement attributed to resumed operations in Taiwan and Singapore, debt restructuring, and cost controls. The company also received a US$25m profit share from Resorts World Manila and resumed Hong Kong sailings under strict vaccination and capacity protocols. A recapitalization proposal secured a US$261.5m loan for vessel construction.","focusai_entities":"Genting Hong Kong Limited, Voyagers Universal Lodging Gather Inc, Resorts World Manila, Crystal Endeavor, Global Dream","focusai_location":"Hong Kong, Taiwan, Singapore, Philippines, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"H1 Loss Drivers?","query":"What specific operational segments or market conditions were the primary drivers of Genting Hong Kong's consolidated operating loss in H1, beyond the general impact of COVID-19?"},{"label":"Debt Restructuring Impact?","query":"How does the recent debt restructuring agreement and the US$261.5m recapitalization loan impact Genting Hong Kong's long-term capital structure and its ability to fund future growth initiatives?"}],"footnotes":""},"categories":[16338,163],"tags":[23716],"class_list":["post-21700","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\/21700","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=21700"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21700\/revisions"}],"predecessor-version":[{"id":21728,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21700\/revisions\/21728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20335"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}