Setting sail with two new ships
Genting Hong Kong (Genting HK) is set to launch two new cruise ships, which will both allow passengers to gamble across the high seas.
In order to finance these new cruise ships, the company sold a significant portion of its Dream Cruises business.
Adding to the fleet
Genting Hong Kong already has a significant fleet of ships due to its positions in Genting Dream, World Dream, and Explorer Dream. This fleet can now be expanded as a result of the sale to TPG Darting.
This is part of the company’s plan to strengthen its balance sheet and continue its expansion efforts in this industry. A company statement said:
The disposal [will] also reduce the Group’s financial burden in meeting future funding requirements in relation to Dream Cruises’ business.”
In the coming years, there will be a further two ships added to its current stable. These are set to be “Global Class” ships and are currently under construction at a German shipyard. The first of these ships will be ready for the high seas by 2021. The other ship will be ready to set sail in 2022.
As a result of its various positions, Genting Hong Kong is the biggest cruise operator in the Asian-Pacific region in terms of market share. It now plans to further strengthen its position through its expansion efforts.
Genting Hong Kong is the biggest cruise operator in the Asian-Pacific region
With the middle-class market rapidly growing in Asia, there are many compelling business opportunities available for the company to take advantage of.
Gambling across the high seas
Another key part of the Genting Hong Kong business is its commercial casinos. It has incorporated its experience in the casino space to the cruise world. Most of the Genting cruise ships have a casino on board, which allows passengers to play their favorite games as they cruise along the high seas.
With gambling being big business in the Asia-Pacific region, the Genting cruises have constantly grown in popularity. With the addition of two new ships, the company is doubling down on its recent success.