{"id":22213,"date":"2021-09-01T13:24:51","date_gmt":"2021-09-01T16:24:51","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22213"},"modified":"2026-04-23T16:05:45","modified_gmt":"2026-04-23T19:05:45","slug":"genting-hong-kong-reports-us182-3m-in-revenue-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-reports-us182-3m-in-revenue-for-h1","title":{"rendered":"Genting Hong Kong reports US$182.3m in revenue for H1"},"content":{"rendered":"\n<p>Genting Hong Kong has reported a decline in revenue from US$226.2m to US$182.3m for the first half of the year.<\/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 shared its financial results for the first half of the year. <strong>Revenue decreased to US$182.3m\u00a0<\/strong>mainly due to the suspension of Crystal Cruises and Star Cruises operations due to the Covid-19 pandemic.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-expects-net-loss-of-us330m-for-h1\">The company<\/a>\u00a0posted a\u00a0<strong>reduced EBITDA loss of US$171.2m\u00a0<\/strong>compared to an EBITDA loss of US$204.1m in the first half of 2020, thanks to the resumption of cruise operations in Taiwan and Singapore and control of operating costs.\u00a0<\/p>\n\n\n\n<p>The <strong>consolidated operating loss\u00a0<\/strong>for the period was US$258.6m. Net loss decreased from US$742.6m in the first half of 2020 to US$238.3m in the first half of 2021.<\/p>\n\n\n\n<p>The operator said it\u00a0<strong>expects about 50 per cent of the global cruise fleet to be back in service<\/strong>\u00a0in the following weeks.<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-will-resume-operations-on-july-30\" rel=\"noreferrer noopener\">The cruise ship operator<\/a>&nbsp;resumed 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.&nbsp;<\/p>\n\n\n\n<p>Genting HK said it continues to seek new sources of funding in view of ongoing uncertainties.<\/p>\n\n\n\n<p>In May, the company reported that it had reached a<strong>&nbsp;recapitalisation proposal<\/strong>&nbsp;with stakeholders to access a&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-creditors-to-accept-recapitalisation-package\" rel=\"noreferrer noopener\">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.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genting Hong Kong has reported a decline in revenue from US$226.2m to US$182.3m for the first half of the year.<\/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 reported a significant revenue decline to US$182.3m for H1, primarily due to COVID-19 operational suspensions, though net loss and EBITDA loss were reduced. The company resumed some cruise operations and secured a recapitalisation loan to fund vessel construction, while actively seeking further funding amidst ongoing market uncertainties.","focusai_entities":"Genting Hong Kong, Crystal Cruises, Star Cruises, Crystal Endeavor, Global Dream","focusai_location":"Hong Kong, Taiwan, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"EBITDA Positive Timeline?","query":"What is the projected timeline for Genting HK to achieve positive EBITDA given current operational recovery trajectories and sustained cost control measures?"},{"label":"Recapitalisation Equity Impact?","query":"How does the recent recapitalisation proposal, including the issuance of a small stake, impact existing shareholder equity and the long-term capital structure of Genting Hong Kong?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23716],"class_list":["post-22213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22213","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=22213"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22213\/revisions"}],"predecessor-version":[{"id":22232,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22213\/revisions\/22232"}],"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=22213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}