Genting HK expects US$180 mln-plus profit for 1H 2014

Casino operator Genting Hong Kong Inc expects net income of more than $180 million in the first half of the year, compared with consolidated net income of $23 million in the same period a year ago.

The increase in net profit was mainly attributable to a 3.7% stake in Norwegian Cruise Line Holdings, which sold US$153 million in March. Hong Kong-listed Genting Hong Kong is still the company's majority shareholder with a 27.7% stake.

In addition, what helped boost Genting Hong Kong's performance was a fair value increase of about $15 million, caused by the revaluation of some financial assets, the company issued a positive profit warning to the Hong Kong Stock Exchange on Saturday.

The company's unaudited consolidated results for the first half of 2014 will be announced in August. 파워볼게임

Genting Hong Kong is a joint venture partner of resort world manila casino resort in the Philippines. The company, which also operates casino cruises under the star cruise brand, is a subsidiary of Malaysian conglomerate Genting Bhd.