Success Universe Group, an investor in Macau’s Ponte 16, posted a gross profit of HK$7.5 million ($960,000) in 1H23, up 41 percent compared to 1H22.

Success Universe Group, an investor in Macau’s Ponte 16 hotel/casino property says it is expecting to record an unaudited consolidated profit for the six months ended 30 June 2023 in the range of HK$130 ($16.6 million) to HK$170 million ($21.7 million), up from a loss of HK$125.5 million ($16 million) in 1H22. 

Success Universe Group said it plans to refinance up to HK$490 million ($62.6 million) in loans provided to Macau's Ponte 16, one of the few satellite casinos operating on the city's peninsula.

The operator of Macau’s Ponte 16 casino, Success Universe, saw a HK$287.07 million ($36.57 million) loss for 2022, dragged down by a HK$42.1 million ($5.36 million) loss from the group’s share in Ponte 16’s operations.

Ponte 16 casino performance and overseas losses dragged Success Universe Group's balance-sheet in the first half of fiscal 2022, a filing to the Hong Kong Stock Exchange shows.

Despite strong revenue stream, Hong Kong-listed Success Universe Group Ltd reported a net loss of HK$125.5 million ($16 million) in the second quarter of 2022.

Success Universe Group, an investor in Macau’s Ponte 16 posted a profit of HK$4.9 million for the year ended December 31, 2021. 

Success Universe Group, an investor in Macau’s Ponte 16 says it is expecting to record an unaudited consolidated profit for the year ended December 31, 2021, in the range of HK$3 -HK$8 million, up from a loss of HK$142 million in the year prior. 

Success Universe, the operator of Ponte 16 in Macau, has managed to reduce its 1H21 loss by over 60 percent despite a 90 percent plunge in revenue.

Success Universe Group, operator of Ponte 16 in Macau has announced it will be acting as a 49 percent guarantor for an amended and restated facility agreement of HK$500 million, used to assist Ponte 16 refinance its existing facilities, general working capital, and finance the payment of the land premium.