Iconic Singapore club Zouk is being sold for an undisclosed sum to Genting Hong Kong (GHK), which operates the popular Star Cruises.
The wildly popular Zouk brand could be headed for more overseas expansion under its new owner, given the group’s casinos, cruise ships, hotels and other entertainment properties around the world.
Zouk founder Lincoln Cheng, 68, will break the news to the club’s 155 full-time staff on Wednesday (Oct 21).
The acquisition, sealed on Monday, is expected to be completed by the year end. GHK is buying all of Zouk’s major trademarks, the new Clarke Quay club and the annual ZoukOut dance music festival in December, but not Zouk Kuala Lumpur, where Mr Cheng will remain non-executive chairman.
Mr Cheng created a sensation on the local nightclub scene when he set up Zouk in 1991 in Jiak Kim Street. Since then, Zouk has been consistently ranked among the top clubs in the world. In April, both its Singapore and Kuala Lumpur outlets made it to the top 40 in the Top 100 Clubs list compiled by Britain’s authoritative DJ Mag.
GHK is headquartered and listed in Hong Kong with a secondary listing in Singapore. It is an affiliate of the Genting Group. Genting Singapore is also part of the group.