Genting Hong Kong, Asia's leading global cruise company, announced that it has reached an agreement with White Supreme Corp to sell 50% of its Macau subsidiary (Genting Macau), with an option to buy the remaining 50%.
This operation, valued at 750 million Hong Kong dollars, becomes more important when considering that Genting Macao is involved in the ambitious hotel project of 8,100 square meters, known as "Resorts World Macau", for which they planned to request authorization from the government for gaming operations.
In this regard, Genting Hong Kong has reported that this negotiation is "in line with the group's objective of selling non-essential assets", which seeks to reduce the financial burden and overcome the adversities caused by the COVID-19 crisis.
Notably, Genting Hong reported net losses of more than $ 742 million in the first half of this year; For this reason, in August, the company reported that it would "temporarily suspend all payments to the group's financial creditors."
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