• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Lim Keong Hui to maintain Zouk partnership with Genting Hong Kong but taking Vice President with him

Newsdesk by Newsdesk
Fri 4 Sep 2020 at 04:54
Lim Keong Hui to maintain Zouk partnership with Genting Hong Kong but taking Vice President with him
268
SHARES
6.7k
VIEWS
Print Friendly, PDF & Email

Zouk Group will continue its partnership with various Genting projects, despite Lim Keong Hui, son of Genting Group patriarch Lim Kok Thay, this week purchasing the nightclub brand from Genting Hong Kong.

That purchase came just days after Lim stepped down as Deputy CEO and Executive Director of the troubled cruise ship operator, with revelations on Thursday that Genting Hong Kong Vice President Andrew Li was departing with him to focus on his role as Zouk Group CEO.

However, according to an interview with Li in The Straits Times, Lim’s decision to purchase Zouk from Genting Hong Kong was aimed at helping both brands with the 35-year-old heir to the Genting throne keen to expand on Zouk’s 17 outlets globally. Those outlets include two Zouk at Sea day clubs on cruise ships Genting Dream and World Dream, plus the Empire Club at Malaysia’s Resorts World Genting.

“Given the challenges Genting Hong Kong is facing during the pandemic, we thought it would make more sense to take Zouk out since it’s not a core asset, and continue to build the brand,” Li told The Straits Times.

“It was always our vision to build this global lifestyle platform, and over the last four years we’ve made huge strides.”

Originally just a single nightclub in Singapore, Zouk was purchased by Genting Hong Kong in 2015 at the prompting of the junior Lim and has since grown into a diverse lifestyle group whose 17 outlets includes not only nightclubs and day lounges but restaurants and burger bars.

Associate Professor of the National University of Singapore (NUS) Business School, Lawrence Loh, told The Straits Times that removing Zouk from Genting HK – which last week reported a US$743 million half-year loss and suspended all debt repayments – was positive news for all involved.

“While the Zouk sale (for US$10.3 million) will not be able to solve the large debt problem, the proceeds will buy time for Genting Hong Kong to hold on in terms of working capital,” he said.

“And being out of the Genting umbrella, Zouk will be ring-fenced from the restructuring, including even possible creditor actions.”

RelatedPosts

Genting Malaysia to form part of new merged entity taking full ownership of New York’s Empire Resorts

Genting Malaysia to acquire full ownership of US entity Empire Resorts from Lim family vehicle

Sat 3 May 2025 at 05:58
Analysts agree Las Vegas Sands best suited to overcome saturation of Asia’s premium gaming market

Marina Bay Sands turns 15, prepares for completion of hotel room transformation

Mon 28 Apr 2025 at 06:00
10 Years Ago: Rearing for a comeback

Nomura expecting another weak quarter for Resorts World Sentosa on reduced room inventory, lower hold

Sun 27 Apr 2025 at 10:14
Inside Asian Gaming named Lead Media and Production Partner for G2E Asia 2022 Special Edition in Singapore

Marina Bay Sands increases expected rolling hold percentage on baccarat to 3.70%

Thu 24 Apr 2025 at 06:12
Load More
Tags: Genting BerhadGenting GroupGenting Hong KongHong KongLim Keong HuiLim Kok ThaySingaporeZouk Group
Share107Share19
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Japan Credit Rating Agency affirms Konami’s A+ rating due to “high earning capacity”

Stability in Australia, North America drives 7.4% revenue growth for Konami’s gaming segment in FY25

by Newsdesk
Fri 9 May 2025 at 06:48

Global gaming supplier Konami reported a 7.4% increase in revenue in its Gaming & Systems segment to JPY42.7 billion in the year ended 31 March 2025, with operating profit up by 16.3% to JPY7.3 billion, according to financial statements published...

MGM’s Hornbuckle bullish on “unique” Macau as China stimulus uncertainty sees gaming stocks dive

MGM’s Bill Hornbuckle extends employment contract through end-2028

by Ben Blaschke
Fri 9 May 2025 at 06:34

MGM Resorts CEO and President Bill Hornbuckle has renewed his employment contract with the company through to the end of 2028, after which time he will assume an advisory role to assist with the pre-opening phase of its US$9 billion...

Winds of change

Melco says working with potential buyers on bidding process for City of Dreams Manila

by Ben Blaschke
Fri 9 May 2025 at 06:16

Melco Resorts & Entertainment said Thursday that it is currently in discussions with potential buyers of its stake in Philippines integrated resort City of Dreams Manila and will soon have a shortlist of interested parties that will partake in a...

Melco prices US$750 million Senior Notes offering

Melco smashes revenue and profit estimates in 1Q25, gains market share on powerful performance of Macau resorts

by Ben Blaschke
Fri 9 May 2025 at 05:36

An impressively strong performance in Macau was enough to see Melco Resorts & Entertainment comfortably beat consensus in 1Q25, with the company reporting a 10.8% year-on-year increase in total operating revenues to US$1.23 billion including a 12.2% rise in gaming...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語