It is easy to attribute the financial woes of Genting Hong Kong to the pandemic that has devastated the cruise industry. But the seeds of its downfall sprouted long before the virus emerged.
A deep dive into the Hong Kong-listed company’s financial records over the past two decades reveals that numerous annual losses, combined with a rapid, multi-faceted expansion, left it in a precarious position and unable to withstand the shock when Covid-19 struck two years ago.
