Genting Hong Kong trims losses in H1 FY18

Business of Hong Kong-listed gaming investor Genting Hong Kong sailed smoothly in the first half of 2018, resulting in the company expecting its net loss to go down by at least 17 percent.

In a regulatory filing, Genting Hong Kong estimated that its consolidated net loss for the first six months of 2018 to be around US$150 million to US$170 million. The estimate is lower than the US$205.4 million net loss it incurred for the six months that ended June 30, 2017.

Genting’s optimism boiled down to the improved business performance of its cruise segment for January to June 2018 period. If not for the lower cost capitalization in the shipyards, Genting said that its net loss might have been lower than its expectation.

However, the Hong Kong-based firm noted that it did not take into account the group’s share of results from Travellers International Hotel Group, Inc. “as Travellers is a listed company on an overseas stock exchange and its results have not been announced.”