Since then, Genting HK has made additional cuts in accordance with the instructions of appointed liquidators. It said this past Tuesday in a filing with the Hong Kong Stock Exchange that “various non-core subsidiaries” in Australia, Hong Kong, Malaysia, Singapore, and the US are conducting insolvency proceedings.<\/p>\n
\n
Genting HK didn’t specify which entities are involved. However, it explained that additional subsidiaries “will enter into formal insolvency processes as the group continues with its operations-reduction exercise and the disposal of its assets.”<\/p>\n<\/div>\n
As for the company’s cruise ambitions, they have been scuttled permanently, per the prognosis of the liquidators.<\/p>\n","protected":false},"excerpt":{"rendered":"
Genting Hong Kong has spent the past several months restructuring the business to avoid a permanent shutdown. It’s losing its casino cruise ships as a result, and just sold another to Royal Caribbean. Poorly-timed spending that immediately preceded the onset of COVID-19 forced Genting HK into a bad spot. It started missing payments to its […]<\/p>\n","protected":false},"author":64,"featured_media":222881,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[81914,81913,13363],"acf":[],"yoast_head":"\n
Genting HK Continues Offloading Assets as It Looks To Stay Afloat - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n