Genting HK enters into agreement for electronic equipment

Genting cruise ship
Genting cruise ship

Luxury cruise operator Genting Hong Kong has entered into a master agreement to buy electronic equipment and devices from FreeStyle Gaming Ltd to use on its cruise ships.

FreeStyle Gaming is a subsidiary of Resorts World Inc Pte Ltd, a company controlled by Genting Bhd and the group’s chairman Lim Kok Thay.

“In order to reduce manpower, broaden the target age range of the customers… and maintain the competitiveness of the cruise lines operated by the group, the company has been diversifying the varieties of entertainment and facilities by way of installing various electronic games onboard the cruise ships of the group,” said Genting HK in a filing to the Hong Kong Stock Exchange.

According to the company, the signing of the master agreement will allow the company to purchase equipment from FGL “to regulate the ongoing connected transactions between the parties,” rather than “requiring the company to continue to consider each such transaction as a connected transaction requiring aggregation and disclosure consideration.”

The agreement has an aggregate cap of $9.9 million and is valid until December 31, 2018.