the first half would see a “significantly higher”<\/a><\/em><\/strong> loss than numbers reported last year.<\/p>\n\n\n\nThe group posted an unaudited consolidated\u00a0net loss of US$56.5 million\u00a0for the first half of for 2019.<\/p>\n\n\n\n
Genting operates casino cruise ships and shipyards and is also an investor in Resorts World Manila in the Philippines.<\/p>\n\n\n\n
The firm stated it planned to release interim results before the end of the month.<\/p>\n\n\n\n
The first half of 2020 has been severely impacted by the suspension of operations across the group\u2019s cruise businesses, namely Dream Cruises, Crystal Cruises and Star Cruises, the suspension of shipbuilding operations at MV Werften\u2019s shipyards in Germany, and severely restricted operations and revenue generation at Genting Hong Kong\u2019s entertainment and leisure businesses, the Resorts World Manila casino resort and Zouk nightclub in Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"
Hong Kong-based Genting, which operates casino venues and cruises, expects to report at least US$300 million in losses due to the pandemic.<\/p>\n","protected":false},"author":2,"featured_media":8841,"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 consolidated net loss of at least US$300 million for H1 2020, a substantial increase from the prior year. This significant financial downturn is attributed to widespread operational suspensions across its cruise lines, shipbuilding activities, and restricted revenue generation from its entertainment and leisure assets, including Resorts World Manila, due to the pandemic. The firm plans to release interim results by month-end.","focusai_entities":"Genting Hong Kong, Dream Cruises, Crystal Cruises, Star Cruises, MV Werften, Resorts World Manila, Zouk nightclub","focusai_location":"Hong Kong, Philippines, Germany, Singapore","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting HK Liquidity?","query":"What is Genting Hong Kong's current liquidity position and capital expenditure outlook given the projected H1 2020 net loss of US$300 million and ongoing operational suspensions across its core verticals?"},{"label":"Gaming Vertical Recovery?","query":"How does Genting Hong Kong anticipate the recovery trajectory for its Resorts World Manila casino operations compared to its cruise and shipbuilding segments, and what specific strategies are being implemented for each gaming vertical?"}],"footnotes":""},"categories":[160,16338,163],"tags":[12436,1619],"class_list":["post-8839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-casinos","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8839","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=8839"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8839\/revisions"}],"predecessor-version":[{"id":8848,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8839\/revisions\/8848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8841"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}