Casino ship operator and gaming investor Genting Hong Kong Ltd announced on Wednesday that its shareholders have approved a final dividend of US$0.01 per share for the year ended December 31, 2016.
The decision was made during the company’s annual general meeting held that day, in which the shareholders also voted to re-elect Alan Howard Smith and Justin Tan Wah Joo as directors.
The company reported a US$502.3-million loss in 2016. The firm cited “the one-time start-up and marketing costs for the launch of new Dream and Crystal Cruises’ brands and products in 2016” and “higher overall operating and selling, general and administrative expenses” as part of the reasons for the 2016 loss.
Genting Hong Kong – a subsidiary of Malaysian conglomerate Genting Bhd – has been accelerating expansion plans for its cruise business and has developed a three-brand portfolio of cruise lines serving different parts of the market: 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.
Genting Dream, the first ship of the Dream Cruises brand, made its maiden voyage to Okinawa, Japan, in April. A second ship of the Dream Cruises fleet – World Dream – is scheduled to start operations in November 2017.
Jan 18, 2018The rise in Macau casino stock values in 2017 has contributed to the growth in the fortunes of some of the sector’s best-known entrepreneurs, according to Forbes’ latest ‘Hong Kong’s 50...
Jan 18, 2018
Jan 18, 2018
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”The casino [at Jeju Shinhwa World] has been totally finished since December”
Executive vice president, casino, at Landing Entertainment Korea