GENHK Expands Cruise Casino Electronic Game Trading

Casino ship operator and gaming investor Genting Hong Kong Inc Genting said it has re-signed with a company linked to purchase electronic equipment and devices for electronic gaming on cruise lines operated by the group.

Genting Hong Kong, a subsidiary of Malaysian conglomerate Genting Bhd, is buying equipment from Freestyle Gaming Pte Ltd. Freestyle Gaming is a subsidiary of Singapore-based Resorts World Inc Pte Ltd, which is controlled by Genting Bhd and group chairman Lim Kok-tei at an equal proportion.

The total limit of the agreement is US$7 million, effective from January 1, 2019 to December 31, 2021, Genting Hong Kong said in a filing last week.

The agreement states an annual cap of US$1 million for 2019. The annual cap for 2020 and 2021 has been set at US$3 million each.

The company has set an annual cap, taking into account its forecast of purchases for the 2019-2021 financial year, and said it was a “reasonable buffer to accommodate unexpected increases in purchases that could result from potential future cruise and passenger numbers.”

In recent years, Genting Hong Kong has accelerated plans to expand its cruise business and developed a portfolio of three brands that focus on different market segments: Crystal Cruise for the ultra-luxury segment, Dream Cruise for the premium segment, and Star Cruise for defining the modern segment.

Genting Hong Kong said the re-signing with Freestyle Gaming was in line with the company’s strategy of diversifying entertainment and facility offerings on cruise ships “by installing a range of electronic games.” The company said the deal would “reduce staffing” and help “maintain competitiveness” for cruise lines that operate to expand the target age range of customers.

BY: 슬롯머신

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