Genting Hong Kong surge in profits leads to potential Spanish expansion plans

Asian Casino operator Genting Hong Kong Ltd, forecasts a net profit of more than US $180 million (£107 Million) for the opening half of 2014. The forecasted figure represents an improvement of 88% on the first half of 2013, where Genting Hong Kong reported a consolidated net profit of US $23 million.

Genting pointed to the March sale of its 3.7% stake in Norwegian Cruise Line Holdings for US $153 million (£91 million) as the main attribute for its increase in net profits.

Further gains for Genting Hong Kong, saw a revaluation of its tangible business assets which were revalued with a value gain of US $15 million (£8.9 million) attached.

The company’s unaudited consolidated results for the first half of 2014 are expected to be announced at the start of August.

Currently Genting Hong Kong, are engaged in gambling operations in Singapore, Hong Kong, the Philippines and in the United Kingdom.

Asian gambling news sources report that Genting have been studying the possibility of entering the Spanish Casino and leisure market. Senior Management of Genting are said to be prepping a bid for one of six new Spanish Casino licenses.

Spanish news sources have stated that new casino bids will be reviewed by the Spanish Gambling Commission and the Lottery Association later this year.