• 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

Genting HK closes deals to provide firm capital, stability

Jun 29, 2021 Newsdesk Latest News, Philippines, Singapore, Top of the deck  


Genting HK closes deals to provide firm capital, stability

Casino cruise ship operator Genting Hong Kong Ltd said in a Monday filing it had concluded a series of deals aiming “to provide further capital and stability to the group”.

The firm said the deals, first announced in May, involved: access to new loan facilities amounting to about US$700 million; amendment and extension of its existing financial indebtedness; and provision of “backstop funding” arrangements to address future liquidity needs.

According to Genting Hong Kong, the set of deals would “create a stable runway” for the firm “to execute a fully-funded business plan aligned with anticipated market recovery as Covid-19 restrictions ease”.

Genting Hong Kong – part of the Malaysia-based Genting group – controls the Dream Cruises, Crystal Cruises and Star Cruises brands. The firm is also an investor – via a joint-venture entity called Travellers International Hotel Group Inc, in the Resorts World Manila casino resort in the Philippines. Travellers International reported its first-quarter results last month, via its 50-percent shareholder, Philippine conglomerate Alliance Global Group Inc.

In its Monday filing, Genting Hong Kong also provided a business update on its cruise operations. It confirmed it had “voluntarily suspended” cruising activities in Taiwan since May 12, following a new Covid-19 outbreak there, and in accordance with government guidance.

“In Singapore, passenger capacity of World Dream has been reduced from 50 percent to 25 percent in May 2021 and has been returned to 50 percent since 14 June 2021,” Genting Kong said, referring to one of its vessels operating out of that city-state.

The firm added that the Hong Kong Government had permitted its Genting Dream cruise ship (pictured) to resume service at the “end of July”. But Genting Hong noted that“any outbreaks” of Covid-19 in Hong Kong “between now and then may affect the starting date”.


  • tweet
Related articles
  • Macau diversification into non-gaming to remain slow: Fitch
    Macau diversification into non-gaming...

    Mar 24, 2023  

  • Casino op SJM 2024 EBITDA to hit US$510mln: Moody’s
    Casino op SJM 2024 EBITDA to hit...

    Mar 22, 2023  

More news
  • Kangwon Land slot brand Manila office eyes SE Asia sales
    Kangwon Land slot brand Manila office...

    Mar 28, 2023  

  • GEN Singapore boss flags uneven recovery pace in 2023
    GEN Singapore boss flags uneven...

    Mar 28, 2023  


Latest News

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Kangwon Land Inc, operator of the only South Korean casino permitted to serve local gamblers, recently opened a Manila, Philippines office for sales and promotion of its own-brand KL Saberi casino...
Read More
GEN Singapore boss flags uneven recovery pace in 2023

GEN Singapore boss flags uneven recovery pace in 2023

Mar 28, 2023  

APE narrows annual loss as revenue up 38pct

APE narrows annual loss as revenue up 38pct

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us