Asian cruise ship operator, Genting Hong Kong Limited, has reportedly announced the signing of a deal that is due to see it continue purchasing electronic gaming machines and associated equipment from FreeStyle Gaming Private Limited.
According to a report from GGRAsia, Genting Hong Kong Limited was formerly known as Star Cruises Limited and is responsible for the Crystal Cruises, Dream Cruises and Star Cruises brands. The firm also partnered with Manila-based Alliance Global Group Incorporated in 2013 to establish Travellers International Hotel Group Incorporated, which operates the Resorts World Manila integrated casino complex in the Philippines.
Provision of ‘electronic games’:
Genting reportedly asserted that the renewal with FreeStyle Gaming Private Limited is in keeping with its various diversification strategies and is set to encompass a broad range of ‘electronic games.’ The Hong Kong-headquartered operator purportedly detailed that the agreement will moreover allow it to ‘reduce manpower’ and ‘broaden the target age range’ of its patrons in order to ‘maintain the competitiveness’ of its cruise ship services.
GGRAsia reported that the new agreement is due to run until the conclusion of 2021 and involve Genting paying FreeStyle Gaming Private Limited a maximum of $7 million for the machines and equipment. The deal furthermore purportedly contains a provision that is to see the cruise ship operator hand over a supreme of $1 million in 2019 alongside no more than $3 million for each of the subsequent years.
Genting Hong Kong Limited, which is a subsidiary of casino giant Genting Malaysia Berhad, reportedly declared that it had established the alliance’s annual maximum payment amounts after taking projected purchase volumes into consideration. It purportedly stated that the deal had additionally allowed it to establish ‘a reasonable buffer’ that will permit it ‘to cater for any unexpected increase in the amount of purchases’ arising from associated swells in the number of cruises and passengers.
For its part, Singapore-based FreeStyle Gaming Private Limited is a subsidiary of Resorts World Incorporated Private Limited, which is itself jointly controlled by Genting Malaysia Berhad and the Malaysian casino firm’s Chairman and Chief Executive Officer, 67-year-old Lim Kok Thay.