• 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 issues 2014 profit warning

Feb 09, 2015 Newsdesk Latest News, Philippines, Rest of Asia, Top of the deck  


Genting HK issues 2014 profit warning

Genting Hong Kong Ltd – an operator of casino cruise ships under the Star Cruises brand, and a joint venture partner in two Philippine casino resorts – has issued a warning that its profits could fall by as much as 51 percent year-on-year for the year ending December 31, 2014.

But the firm said that the numbers contained in its warning did not include the contributions from associate companies Norwegian Cruise Line Holdings Ltd (NCLH) and Travellers International Hotel Group Inc.

The latter is a joint venture with Philippine-based Alliance Global Group Inc. The partnership developed and operates the Resorts World Manila casino resort and is currently constructing the US$1.1 billion Bayshore City Resorts World in Entertainment City in Manila.

Bayshore City Resorts World broke ground in the autumn and is due to open in the final quarter of 2018, according to a Travellers International statement on October 1.

Genting Hong Kong said that net of NCLH’s and Travellers International’s contribution, it expected to report for 2014 a profit of “not less than US$235 million”. That compared with US$483 million for the year ended 31 December 2013, also excluding NCLH and Travellers International.

The parent said the likely decline in 2014 profit was due to factors including a “reduction in gain arising from disposal of certain stakes in NCLH”. They had amounted to US$452 million in 2013 but reduced to approximately US$153 million in 2014, according to the firm’s interim report issued during last year.

The parent said that it expects its EBITDA (earnings before interest, taxation, depreciation and amortisation) for the year ended December 31, “to remain stable as compared with 2013”.

The audited consolidated results of the group for 2014 are expected to be announced next month.


  • tweet
Related articles
  • Cruise firm GEN HK flags most operations likely to cease
    Cruise firm GEN HK flags most...

    Jan 19, 2022  

  • Genting to resume HK cruise operations from July 30
    Genting to resume HK cruise operations...

    Jul 15, 2021  

More news
  • Maybe new Macau mass Covid test, community spread still
    Maybe new Macau mass Covid test,...

    Jun 24, 2022  

  • Blackstone clinches US$6.15bln takeover of Crown Resorts
    Blackstone clinches US$6.15bln takeover...

    Jun 24, 2022  


Latest News

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

It is likely that Macau will shortly have a third round of citywide centre-based Covid-19 testing in little more than a week, after the results so far of a second mass test – that was due to finish...
Read More
Blackstone clinches US$6.15bln takeover of Crown Resorts

Blackstone clinches US$6.15bln takeover of Crown Resorts

Jun 24, 2022  

Jeju still studying online gaming for its casinos: govt

Jeju still studying online gaming for its casinos: govt

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Macau ops sign contract extension, eye fresh public tenderMacau ops sign contract extension, eye fresh public tender June 23, 2022
  • Okada Manila control dispute back in court: UniversalOkada Manila control dispute back in court: Universal June 22, 2022
  • Macau gaming ops contract rollover signed today: CEMacau gaming ops contract rollover signed today: CE June 23, 2022
  • Macau shuts leisure sites amid Covid, casinos can still runMacau shuts leisure sites amid Covid, casinos can still run June 23, 2022
  • Claimed US$3.5mln scam on Chinese, Daegu Casino: reportsClaimed US$3.5mln scam on Chinese, Daegu Casino: reports June 22, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us