• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GEN HK to net US$57mln from Norwegian cruise share sale

Nov 17, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


GEN HK to net US$57mln from Norwegian cruise share sale

Casino cruise ship operator and Philippine casino investor Genting Hong Kong Ltd announced on Friday a deal to sell a 2.19-percent stake in Norwegian Cruise Line Holdings Ltd, a business listed in Nasdaq in New York. Genting Hong Kong is selling a total of 5 million shares for approximately US$270.1 million, after deduction of the relevant estimated expenses, it said in a filing.

The Hong Kong-listed company said it expects to book a gain of approximately US$57.4 million, representing the difference between the expected proceeds from the disposal and the carrying value of the shares. The sale will be done via Genting Hong Kong’s wholly-owned subsidiary Star NCLC Holdings Ltd.

The company said that the proceeds from the disposal “will be used as general working capital and capital expenditure for the group and/or to fund new investments, should suitable opportunities arise”.

Upon completion of the exercise – expected for Monday – Genting Hong Kong will still control a stake of approximately 5.64 percent in Norwegian Cruise Line. The stake will continue to be labelled as an “available-for-sale investment”, the firm said. Norwegian Cruise Line has operations around the globe, including Asia.

Genting Hong Kong sold in August a 3.29-percent stake in Norwegian Cruise Line for US$409.1 million, with the company recording a net gain of US$90.1 million.

Genting Hong Kong – a subsidiary of Malaysian conglomerate Genting Bhd – has been accelerating expansion plans for its own 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.


  • tweet
Related articles
  • GEN HK liquidators no plan to resume trade in its shares
    GEN HK liquidators no plan to resume...

    Oct 18, 2022  

  • Bermuda court winds up failed casino cruise biz Genting HK
    Bermuda court winds up failed casino...

    Oct 11, 2022  

More news
  • SOFTSWISS says it saved ops US$17mln via anti-fraud efforts
    SOFTSWISS says it saved ops US$17mln...

    Mar 24, 2023  

  • Spring launch for Pragmatic Play ‘Rabbit Garden’ slot
    Spring launch for Pragmatic Play...

    Mar 24, 2023  


Latest News

SOFTSWISS says it saved ops US$17mln via anti-fraud efforts

SOFTSWISS says it saved ops US$17mln via anti-fraud efforts

Mar 24, 2023  

Gaming software provider SOFTSWISS says the group’s Anti-Fraud team, part of its Managed Services division, reported its “best performance ever” in 2022. The firm’s experts in that field...
Read More
Spring launch for Pragmatic Play ‘Rabbit Garden’ slot

Spring launch for Pragmatic Play ‘Rabbit Garden’ slot

Mar 24, 2023  

Universal Ent affiliate to develop land next to Okada Manila

Universal Ent affiliate to develop land next to Okada

Mar 24, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


April 8, 2028

Completion deadline for 'Marina Bay Sands 2.0', as authorised by Singapore’s authorities



Most Popular

  • Casino op SJM 2024 EBITDA to hit US$510mln: Moody’sCasino op SJM 2024 EBITDA to hit US$510mln: Moody’s March 22, 2023
  • March 18 Macau arrivals nearly 100k, best since pandemicMarch 18 Macau arrivals nearly 100k, best since pandemic March 23, 2023
  • Macau ops getting overseas visitors via private jets: reportMacau ops getting overseas visitors via private jets: report March 21, 2023
  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • Contractor named, work starts for Wynn UAE schemeContractor named, work starts for Wynn UAE scheme March 23, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us