Genting Hong Kong re-ups deal to buy gaming equipment for cruises

Genting Hong Kong (Genting HK), the casino ship operator and gaming investment firm, has renewed an agreement with FreeStyle Gaming PTE Ltd. The agreement will allow Genting HK to buy equipment and devices for electronic games, specifically for cruise lines operated by the group.

FreeStyle Gaming is a branch of Resorts World Inc, the Singapore based gaming company. That company has split ownership between Genting Bhd, the Malaysian parent company of Genting HK, and by the group’s chairman Lim Kok Thay.

Reportedly, the deal will run from January 1, 2019 until December 31, 2021, and will allow for a cap of US$1 million in purchases for the first year, and US$3 million for the following years. The increased caps for 2020 and 2021 are necessary to provide a buffer incase demand increases, the company noted.

In December, Genting HK consolidated by relinquishing its stake in Norwegian Cruise Lines, specifically so it could free up capital to make future investments and purchases. Although this new agreement seems to be a bit more of an internal deal, the additional money probably helped move things along.