Success Universe says it expects to post a profit for the six months ending 30th of June compared with a loss during the same period a year earlier due in part to the group’s share of profit from its flagship investment project, Ponte 16.
The company said that the improvement was also due to an increase in fair value gain on investment properties in the group.
Success Universe expects to post results in late August.
Ponte 16 is the only resort in the Inner Harbor of Macau. It consists of a five-star hotel, a casino, Asia’s first MJ Gallery, and an upcoming entertainment and retail complex.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Four workers from Mainland China threatened to jump from a building under construction as part of Galaxy Entertainment's Phase 3 & 4 expansion project due to a labour dispute. The Fire Department persuaded the workers to descend and no one was hurt in the incident.
Tomakomai Mayor Hirofumi Iwakura is stepping up his pressure on Hokkaido Governor Naomichi Suzuki to get behind the city’s desire to bid for an IR license. Iwakura has reiterated that the nine month delay in the national timeline should make a bid feasible.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.