Genting Hong Kong reports loss

Hong Kong citizens prioritise gambling in local floating casinos.
Hong Kong citizens prioritise gambling in local floating casinos.

The casino cruise company reported a half billion loss for the last year.

Hong Kong.- Genting Hong Kong Ltd reported a US$502 million loss in 2016, a high number from the US$2.1 billion profit registered a year before. The news were reported during a filling to the Hong Kong Stock Exchange late last week.

Back in January the company also reported a US$550 million decrease in profits for the twelve months that ended on December 31. Even if it seems like a giant decrease, the numbers in 2015 were likely influenced by a net gain of US$659 million on the discard of shares in Norwegian Cruise Line Holdings. “Passenger ticket revenue and on-board revenue increased significantly in 2016 due to the full year contribution from Crystal Cruises,” said the company on the 2016 business.

The group also mentioned an interest in operating a casino in Japan, the newest Asian country to legalise the gambling industry. Next month, the cruise Getting Dream will start a five night operation from Hong Kong, Nansha and Guangzhou to Okinawa in Japan.