The cruise lines operated by Genting Hong Kong Ltd are now set up to receive new electronic gaming equipment and devices thanks to a new agreement signed by the company with FreeStyle Gaming Ltd. The master agreement will see Genting purchasing the equipment to use for electronic games enjoyed by visitors on their cruise ships.
FreeStyle Gaming is a subsidiary of Resorts World Inc Pte Ltd which is a company based in Singapore. The agreement will place an aggregate cap of $9.9 million and will be in place until the 31st of December 2018. Within the agreement, an annual cap will be set for this year at $4.2 million. This will include transactions that took place before November 8th when the agreement went into effect. The next two years will have caps of $3.6 million for 2017 and $2.1 million for 2018.
The plans for expansion by Genting Hong Kong within their cruise business have been accelerated and a three brand cruise portfolio created. This portfolio will focus on different market segments. These segments include:
Crystal Cruises an ultra-luxury segment
Dream Cruises a premium segment
Star Cruises a contemporary segment
The Genting Dream is the first vessel of the Dream Cruise line that will make its maiden voyage in just three days. The ship will set sail from Guangzhou on the 13th.
The new deal with FreeStyle Gaming is one that the company is using as part of their strategy to diversify their offering of entertainment on board the cruise ships. Genting Hong Kong is focusing on installing several electronic games and will use the deal to reduce manpower and broaden the target age range of their customers. The new deal will also help the company maintain a level of competitiveness with the cruise line it operates.
In a filing with the Hong Kong Stock Exchange, Genting HK stated that by putting in place the master agreement, it should aid the company with an umbrella arrangement to regulate the ongoing connected transactions between parties.