Despite weakness in the regional gaming industry, Genting Hong Kong announced on Friday that it expects a net profit of at least US$2.1 billion for the first half of the year.

Genting Hong Kong is part of Malaysia-based Genting Group, an operator of casino cruise ships and a joint venture casino developer and operator in the Philippines.

The expected increase is up from the net profit of US$142.2 million for the same six month period (January – June 30) in 2014.

The group attributes the large increase in this year’s profit to the selling of shares in Norwegian Cruise Line Holdings Ltd. (NCLH), for a total gain of US$599.6 million, and one-time accounting gain of $1.56 billion recognized upon completion of a secondary offering of NCLH’s ordinary shares.

The move decreases the group’s shares in NCLH from approximately 22 percent to 17.7 percent.

According to Genting HK, not included in the expected increase are contributions from Traveler’s International Hotel Group Inc., an arrangement with a Philippines partner that operates and is expanding the Resorts World Manila casino resort in Manila, and from Norwegian Cruise Line Holdings Ltd.

Genting is also expected to acquire U.S.-based Crystal Cruises and its subsidiaries for a total of US$550 million.

The group attributes earnings before interest, taxation, depreciation, and amortization (EBITDA) from the Crystal Cruises acquisition and an improvement in the cruise business to put its numbers above those from the first half of 2014.

In addition, casino operator Genting Malaysia Bhd, another company of the group, approved to sell its entire interest (17.81) in Genting Hong Kong.

The company anticipates a gross of US$472.2 million from the proposed sale.

Genting Hong Kong is part of Malaysia-based Genting group.

According to the latest filing, Genting Hong Kong’s unaudited results for the first half of 2015 are expected to be announced in August.

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