Looking to boost cash flow
Genting Hong Kong has sold off most of its share in Norwegian Cruise Lines. From a high of 11.13 percent last fall, it now holds just 1.41 percent of the cruise ship company.
According to Inside Asian Gaming, it’s the third time in three months that Genting HK has sold down its stake in NCLH after divesting a 3.29 percent interest in August and 2.19 percent in November.
Genting wanted the cash to offset a consolidated net loss of between US$240 million and US$270 million for the year that ended December 31, the publication reported. That figure was down from a loss of US$537 million in 2016; the upswing was due to US$205 million gained from the sale of shares in Australian casino operator Star Entertainment Group as well as Norwegian Cruise Line Holdings Ltd.
Full financial results for 2017 are expected to be released in March.
