Success Universe posts loss of $245,000 in 15H1

Success Universe posted a loss of HK$1.9 million ($245,000) for the six months ended June 30, compared with a profit in the prior corresponding period of HK$47.7 million

The company’s loss per share was 0.04 HK cents compared to earnings per share in 14H1 of 0.97 HK cents.

The loss was largely attributable to Macau’s downturn, the voluntary and temporary suspension of the paperless lottery sales services at the request of the Chinese government and “the non-recurrence of the FIFA World Cup 2014 effect which stimulated the turnover of the lottery business of the Group for the same period of 2014.”

During the reporting period, adjusted EBITDA of the group’s flagship investment project – Ponte 16 – decreased by approximately 40 percent to approximately HK$155.4 million. Shared profit relating to Ponte 16 amounted to HK$15.3 million, down 73 percent from approximately HK$56.3 million for the last corresponding period. 

“Despite the onerous market environment, Ponte 16 strives to maintain its position of being one of the preferred destinations in Macau for both tourists and families.”

As of June 30, the casino at Ponte 16 had 108 gaming tables, consisting of 92 mass gaming tables, 9 high-limit tables and 7 VIP tables, and also had 13 mahjong tables. Average occupancy rate of Sofitel Macau At Ponte 16 was recorded over 85 percent in the first half of 2015. 


Related Articles

Success Universe provides additional loan for Ponte 16

Success Universe announced that it will extend HK$58.8 (US$7.6 million) in financial assistance for the Ponte 16 resort in Macau. This follows a HK$39.2 million loan provided in July.

Success Universe posts US$17 million loss for H1

Success Universe Group, which operates Sofitel Macau At Ponte 16, has posted HK$132.2 million (US$17 million) in net losses in the first half of this year. Revenue for the half was HK$334 million, just about half of what it had been in 2019. “With the suspension of group and individual travel visas from the mainland,” […]

Success Universe to swing to loss as gaming revenue evaporates

Success Universe warns that it will swing to a loss in the first half due to its share of “substantial” losses from the Ponte 16 casino in Macau.

Ponte 16 investor reports 2% gain in 2019 revenue

Success Universe, an investor in Macau’s Ponte 16, said group revenue for 2019 gained two percent to HK$1.14 billion ($147 million).

Success Universe expects to report 2019 profit gain

Success Universe, an investor in Macau’s Ponte 16, said it expects to report a gain of about 30-40 percent in 2019 profit, compared with the HK$54.2 million ($6.98 million)  it reported the prior year.