Casino operator Genting Hong Kong Ltd expects to post a net profit of more than US$180 million for the first half of this year. That compares with a consolidated net profit of US$23 million for the same period a year before, the company said in a filing.
The increase in net profit is mainly attributable to the gain from the disposal of a stake of 3.7 percent in Norwegian Cruise Line Holdings Ltd in March, in the sum of US$153 million. Hong Kong-listed Genting Hong Kong is still the majority shareholder in the company, with a 27.7-percent stake.
Also helping to push up the results from Genting Hong Kong was a fair value gain in the sum of approximately US$15 million arising from a revaluation of some financial assets, the company told the Hong Kong Stock Exchange on Saturday in a positive profit alert.
The company’s unaudited consolidated results for the first half of 2014 are expected to be announced in August.
Genting Hong Kong is a joint venture partner in the Resorts World Manila casino resort (pictured) in the Philippines. The company, which also operates casino cruise ships under the Star Cruises brand, is a subsidiary of Malaysian conglomerate Genting Bhd.
May 27, 2019Gaming Laboratories International LLC (GLI), a specialist in testing and certification of gaming machines, is going to double its team in Macau. The move will enhance GLI’s efforts as it assists...
May 27, 2019
May 27, 2019
"We made that decision… to move away at this point in time from a permanent resident show, to a… variety of shows"
Chief executive of Macau casino operator MGM China