A casino cruise ship that went from over 400 customers a day to less than a few dozen is facing bankruptcy and a wage dispute from its crew members.
The ship, owned by Arising International Holdings and docked in Hong Kong, has been hit with a drastic drop in Chinese mainland tourists due to the ongoing anti-corruption campaign and slowing economy.
A spokesman for the company said daily turnover in the past could reach as much as HK$10m, but last year’s income may have fallen by as much as 90 per cent.
“Our investors are devastated and suffering a great loss,” he said. “We really don’t want to see bankruptcy happen because, by that stage, the ship will be sold very cheaply.”
The ship’s crew are also reportedly planning to apply for legal aid next week to take their employer to court in the hope of recovering more than five months’ worth of unpaid wages.
Arising International bought the vessel, now registered in the Republic of Palau, for more than HK$100m in 2012 and later rented it out to Sun Junhao at a monthly fee of HK$2m.
Source: Asia Gaming Brief
