• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 26 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Genting Hong Kong reports US$238.3 million loss in 1H21, says still seeking funding sources

Ben Blaschke by Ben Blaschke
Wed 1 Sep 2021 at 07:22
Genting Hong Kong reports narrowed loss in 2019 but short-term outlook bleak on COVID-19 cruise ship impact
44
SHARES
1.1k
VIEWS
Print Friendly, PDF & Email

Genting Hong Kong says it is still looking for new sources of funding to help navigate the COVID-19 pandemic after falling to another US$238.3 million loss for the six months to 30 June 2021.

The loss, while narrowed from a 1H20 loss of US$742.6 million, reflects ongoing headwinds for the company’s core cruise ship business – one of the hardest hit industries globally form the pandemic.

Despite finalizing agreements with creditors in June that will see the company granted new loans and extensions to maturities around its US$2.6 billion of debt, Genting Hong Kong said in its H1 results release overnight that it continues to search out further funding opportunities.

“The Company’s financial results remain heavily impacted by the COVID-19 pandemic and the extent of the losses will depend on many factors including the timing of full return to service of its cruise fleet,” it said.

“The Company continues to seek new sources of funding in view of the uncertainties in the recovery.”

Genting Hong Kong reported a decline in revenue in 1H21 to US$182.3 million, down from US$226.2 million in 1H20 due to the suspension of Crystal Cruises and Star Cruises operation since early 2020.

However, the resumption of cruising in Taiwan and Singapore at various times helped reduce the group’s EBITDA loss to US$171.2 million.

Staying positive, Genting Hong Kong cited a Cruise Ships in Service Report issued by Cruise Industry News which said around 50% of the global cruise fleet is expected to be back in service by the end of August 2021.

The company, which has recently resumed sailings from Singapore and Hong Kong, is planning to relaunch Explorer Dream in Taiwan from September, having suspended operations for a second time in May.

RelatedPosts

Hong Kong Chief Executive claims to have discussed “travel bubble” with Macau

Hong Kong Stock Exchange to cancel the listings of casino investors LET Group and Summit Ascent

Tue 19 Aug 2025 at 04:54
Grow Beyond Borders with HKUST Asia-Pacific Part-Time MBA (Digital MBA)

Grow Beyond Borders with HKUST Asia-Pacific Part-Time MBA (Digital MBA)

Mon 18 Aug 2025 at 16:25
Hong Kong Chief Executive claims to have discussed “travel bubble” with Macau

LET Group issues profit warning on narrowed US$5.5 million loss in 1H25

Tue 12 Aug 2025 at 05:50
The future of business is being written in Asia – will you be ready to lead it?

The future of business is being written in Asia – will you be ready to lead it?

Thu 7 Aug 2025 at 16:19
Load More
Tags: cruise shipsDream CruisesGenting Hong KongHong Kong
Share18Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Sons of NagaCorp founder Chen Lip Keong join Forbes list of Malaysia’s richest

Surging mass market sees NagaCorp gaming revenues, profit enjoy double-digit growth in 1H25

by Ben Blaschke
Tue 26 Aug 2025 at 05:30

Hong Kong-listed NagaCorp has credited the impressive growth of the mass market segment at its Cambodian integrated resort NagaWorld for substantial improvement in both its gross gaming revenues (GGR) and profitability in the first six months of 2025. NagaWorld booked...

MGS returns to Macau today with first live in-person show in four years

Galaxy looking to maintain events focus as Galaxy Arena extends partnership with TMElive by three years

by Newsdesk
Tue 26 Aug 2025 at 04:59

Galaxy Entertainment Group’s Galaxy Arena has renewed by a further three years its strategic partnership with live events company TMElive, aiming to further build on the high-profile array of entertainment offerings that have contributed to Macau’s post-pandemic recovery. In its...

Flutter stops India real-money gaming operations, bemoans lack of industry consultation

Flutter stops India real-money gaming operations, bemoans lack of industry consultation

by Ben Blaschke
Tue 26 Aug 2025 at 04:00

British gaming giant Flutter Entertainment says it expects to forfeit around US$100 million in revenue and US$25 million in Adjusted EBITDA after stopping its real-money gaming operations in India following the sudden passage of the Promotion and Regulation of Online...

Slots 2.0

JP Morgan says Macau GGR now at highest non-Golden Week levels since pandemic

by Ben Blaschke
Mon 25 Aug 2025 at 17:04

Investment bank JP Morgan has estimated Macau’s gross gaming revenues in the seven days from 18 to 24 August at MOP$793 million (US$98.5 million) per day, representing a 9% increase over the prior week and making it the city’s highest...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English