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Macau Casinos to Invest $15bn Into Non-Gambling Areas – ColorMag Pro Universal Market News

Macau Casinos to Invest $15bn Into Non-Gambling Areas – ColorMag Pro Universal Market News
allenbwest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allenbwest.com Daily Mail and Mail on Sunday newspapers.

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Resorts World Las Vegas casino-hotel opens on Strip with grand celebration

Resorts World Las Vegas casino-hotel opens on Strip with grand celebration
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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The new kid on the strip

Stephanie Selesnick runs both the road warrior and the event organiser rule over the new giant kid on the Vegas Strip

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GGRAsia – Genting HK assessing liquidity, ability to continue biz

Casino cruise ship operator Genting Hong Kong Ltd said in a Sunday filing that its directors have given “careful consideration” to whether the firm would have “sufficient financial resources” to continue its business as a going concern. The commentary was in Genting Hong Kong’s audited financial results for the year 2020, lodged with the Hong Kong Stock Exchange. During the year, the group recorded a net loss of nearly US$1.72 billion, and had net operating cash outflow of US$629.4 million. As at December 31, Genting Hong Kong’s current liabilities exceeded its current assets by nearly US$3.3 billion. The firm was also in default in respect of borrowings in a principal amount of nearly US$3.4 billion in aggregate.

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GGRAsia – Genting HK recapitalisation tied to US$2 6bln debt

Casino cruise ship operator Genting Hong Kong Ltd says it has agreement on a “holistic recapitalisation” of the group, and “amendment and extension” of the group’s “material financial indebtedness of circa US$2.6 billion” after what it termed “intensive negotiations with its stakeholders”. Genting Hong Kong – part of the Malaysia-based Genting group – controls the Dream Cruises, Crystal Cruises and Star Cruises brands. The firm is also an investor in the Resorts World Manila casino resort in the Philippines. The announced deal came against the background of the Covid-19 pandemic that “has had, and continues to have, a material impact on the financial position and results of operation of the group”, with many cruise routes around the world suspended as a Covid-19 countermeasure.

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