Success Universe, investor in Macau’s Ponte 16, recorded a 50 percent drop in revenue for 2024, totaling HK$51.4 million ($6.61 million). this comes as the group’s shared a profit of the associates relating to Ponte 16 amounted to approximately HK$112 million ($14.4 million), down 22 percent.
Despite the expected fall in revenue, profit attributable to owners of the company amounted to HK$93.4 million ($12 million). This represents a 44.8 percent yearly decrease.
During the period, the group registered a gain on the disposal of overseas listed equity securities of approximately HK$31.1 million ($ million), and a fair value gain on overseas listed equity securities of HK$89.2 million ($11.47 million).
In 2024, the group also recognized in an impairment loss relating to leasehold land and building property plant and equipment totaling HK$36.1 million ($4.64 million). It also saw a substantial increase in the fair value loss on its investment properties and the write down of carrying amounts of the group’s stock of properties amounting to HK$39.7 million ($5.1 million).
The Macau government, in November of 2024, approved a land concession modification of Ponte 16 – which includes a plaza and a commercial building to be developed as a mall, aiming to revitalize the region and expand non-gaming facilities.
At the end of 2024, the casino at Ponte 16 operated 109 gaming tables, comprising 103 mass tables and six high-limit tables.
Looking ahead, Yeung Hoi Sing, Chairman of Success Universe Group, indicated that “In this dynamic economic environment, we are well-positioned to navigate evolving market conditions by maintaining a balance of optimism and prudence. The Group will continue to closely monitor market dynamics, adopt its strategies to tackle challenges and remain steadfast in its dedication to enhancing its business portfolio, ensuring sustainable growth and seizing emerging opportunities”.
The group’s current bank borrowings of over HK$2 billion ($257.1 million), due to the group’s current financials may not be repayable. The group notes that even the current HK$166.4 million ($21.4 million) in default is unlikely to be repayable. In its most recent financials, the group indicates that ‘there exist circumstances that cast significant doubt on the Group’s ability to continue as a going concern’.
The group notes that the possibility to continue with sufficient working capital for at least 12 months from the end of 2024 ‘will depend upon the Group’s ability to generate sufficient financing and operating cash flows’.
This would only be possible via continual support from the lending banks to not take actions to demand immediate repayment of outstanding borrowings as a result of non-compliance with loan covenants. The group is also actively seeking support from the banks for the restructuring of the group’s outstanding installments due in 2025. The group is further seeking support from the controlling shareholder and substantial shareholders to not request repayment of shareholders’ loans of HK$339.4 million ($43.63 million). The group notes that it is also undertaking mitigating measures, including a cost control program.
During the year the group recorded total revenue of HK$771.5 million ($99.18 million), an increase of 4.3 percent yearly. Total gaming revenue for the period amounted to HK$393.1 million ($50.54 million), a yearly increase of 17.1 percent. This was all related to the service income received from Macau gaming concessionaire SJM for services and facilities provided relating to the mass market tables at the Legend Palace Casino.
Also during the period, the group reported HK$378.3 million ($48.63 million) in non-gaming revenue, a drop of 6.4 percent yearly. This was attributed to a drop in the average daily room rate. The group operates two hotels in Macau, the Legend Palace Hotel and the Harbourview Hotel.
Social media influencers promoting offshore online casinos are facing a major crackdown, with New Zealand authorities warning of significant fines if they fail to remove illegal content.
According to Radio New Zealand (RNZ), the Department of Internal Affairs (DIA) has issued its first-ever takedown notices following a surge in influencers endorsing overseas gambling operators. According to Vicki Scott, Director of Gambling Regulatory Services, influencers have been collaborating with offshore online casinos, using live streams, promotional giveaways, and website links to advertise these platforms.
So far, the DIA has issued four warning letters and is investigating 13 other influencers, although the actual number of offenders may be much higher. The department has chosen not to publicly name the influencers to protect their privacy and allow them to dispute the warnings.
Under New Zealand’s Gambling Act, advertising for offshore gambling operators is illegal. The DIA has been investigating these activities and will take action against influencers who are openly violating the law. Failure to comply with takedown notices could result in fines of up to NZ$10,000 ($5,717) per violation. While this may seem like a small amount, repeated offenses could lead to substantial penalties.
However, the Problem Gambling Foundation argues that the DIA’s response is too lenient. Spokesperson Andree Froude believes fines should be imposed immediately to send a strong message that such promotions are illegal. She also expressed concern over offshore casinos using Māori influencers to target Māori communities, calling the practice appalling.
Statistics from the Ministry of Health show Māori are three times more likely to experience moderate-risk or problem gambling compared to non-Māori.
Currently, the government is preparing to regulate the online casino industry for the first time, with plans to auction 15 licenses by February 2026. This will allow approved operators—likely foreign-owned multinational companies—to legally advertise in New Zealand.
Casino management and electronic gaming equipment company Paradise Entertainment Limited saw record high sales of its self-developed LMG terminals and systems contribute to a significant increase in profit for 2024.
According to the group’s financial results profit increased to HK$381.94 million ($49.1 million) up by 527.1 percent year-on-year.
This comes as revenue topped HK$1.08 billion ($139.36 million) for the period, up by 71 percent from 2023.
The group notes that the increase in revenue was mainly ‘due to the increase in revenue from the provision of casino management services in Macau and the sale of electronic gaming equipment and systems in Macau’.
The management of a satellite casino Kap Pek Paradise brought in some HK$718.3 million ($92.34 million) in revenue in FY24, up by 27 percent yearly. This was boosted by an increase in tourism to the SAR. The group predicted this increase in early March, noting a growing number of patrons and heightened interest in its live multi-game (LMG) terminals.
The sale and leasing of electronic gaming equipment and systems in Macau brought in HK$363 million ($46.67) in revenue for 2024, up by nearly 540 percent.
Adjusted EBITDA for the group during the rose to HK$453 million ($58.24 million), up by nearly 240 percent, due to significant rises from its Kam Pek Paradise casino and sale/leasing of EGM equipment and systems.
Jay Chun, Paradise Entertainment
The group is currently focusing beyond Macau, expanding its business of supplying gaming equipment and systems to other Asian markets, particularly the Philippines, as well as the North American markets. At the end of 2024, the group had a total of 24 units of slot machines deployed in two leading integrated resorts in the Philippines for trial, and a total of 144 mini slot machines for the local market in the Philippines.
In a separate filing, the company announced that Co chairman Jay Chun has been redesignated as chairman of the board. This comes as executive Zhang Jianjun tendered his resignation as an executive director and Co chairman of the board, effective from March 27th.
Thailand’s Parliament is expected to deliberate on the entertainment complex bill by April 9th, according to Chief Government Whip Wisut Chainarun.
Wisut Chainarun
In an update provided on Sunday and reported by the Bangkok Post, Wisut, who also serves as a Pheu Thai list-MP, explained that while the bill received cabinet approval on March 27th, Parliament has not yet been officially notified of its submission timeline.
Wisut indicated that if the bill does not arrive for review on April 3rd, it will likely be considered on April 9th. He assured that sufficient time will be allocated for House deliberation and expressed confidence that coalition MPs will support the bill, though discussions with opposition parties have not yet taken place.
Mixed reactions from tourism sector and activists
The proposed legislation has garnered support from tourism operators in Phuket, who believe it could stimulate economic growth. However, Phuket Tourist Association (PTA) President Thanet Tantipiriyakit suggested that a world-class entertainment venue without gambling facilities would better attract family-oriented travelers.
Thanet proposed alternative projects that could enhance Phuket’s appeal, including a world-class water park, an international-standard sports complex, a cultural and arts center, or a theme park. He noted that tourists currently stay in Phuket for five to eight days, primarily for its beaches, and a well-designed entertainment complex could extend their stays.
He cautioned, however, that casino tourists may not significantly benefit the local economy, as their spending tends to remain within casino premises.
It is worth noting that, according to previous reports, Phuket is one of the selected cities for Thailand’s entertainment complex project, alongside Bangkok, Chon Buri, and Chiang Mai.
Meanwhile, political activist Jatuporn Prompan has voiced opposition, warning that legalizing gambling could lead to social problems, including crime and family issues.
Government confident in project’s viability
In a separate report from the Bangkok Post, Thailand’s Deputy Finance Minister Julapun Amornvivat expressed strong confidence in the entertainment complex project, citing significant global investment interest.
His remarks came in response to concerns over the global economic slowdown and its potential impact on the project.
Julapun noted that since the government introduced the idea of establishing entertainment complexes, several investors have expressed interest, viewing Thailand as a more attractive destination for casino gambling than many other countries, including Japan.
According to the official, fewer than 10 major global investors are involved in such projects, all of whom are large-scale operators. He emphasized that there is no need to worry about casinos becoming hubs for money laundering or illegal activities, as these projects require investments of hundreds of billions of baht, representing a significant financial commitment. Investors are unlikely to risk engaging in illegal activities that could lead to license revocation.
Thailand holds a distinct advantage over other countries in this sector, Julapun added. The country already attracts roughly 40 million tourists annually due to its natural beauty and well-developed transport infrastructure. The project is expected to further boost Thailand’s economy, alleviating concerns about whether the country can achieve 3 percent growth.
Legislation timeline
Julapun projected that the entire process—from drafting to final approval—will take about a year. Once enacted, a regulatory office will be established, and a Policy Committee will determine suitable locations and the number of permitted entertainment complexes.
Initially, the proposed sites are expected to be state-owned land or government property. The committee will decide on the components of each complex, which may include amusement parks, sports stadiums, or museums to attract tourists.
Each project will require approximately 300 rai (480,000 square meters) of land, with casino space not exceeding 10 percent of the total area or the usable building space, whichever is smaller.
Once the law takes effect, construction can begin within three years. Julapun clarified that Thailand’s model will not follow Las Vegas, which was built in a desert and required massive infrastructure investment. Instead, Thailand will focus on existing tourist hotspots to maximize visitor spending.
The Presidential Anti-Organized Crime Commission (PAOCC) has confirmed that operations against over 9,000 Philippine Offshore Gaming Operator (POGO) workers have been temporarily suspended due to severe overcrowding in detention facilities.
According to local media outlet The Philippine Star, PAOCC spokesman Winston Casio reported that 947 foreign workers are still being held at the agency’s Pasay detention facility, awaiting deportation to their home countries.
Casio stated on Saturday that deportation paperwork is still being processed, with more repatriations expected in the coming days. To alleviate overcrowding, the government is considering utilizing an additional building in Pasay, which is currently undergoing forfeiture proceedings.
“Once we secure additional personnel, we hope to use the Pasay building as a custodial facility,” Casio said.
In compliance with international laws ensuring humane treatment for detainees—particularly those accused of immigration violations—the Philippine government provides weekly medical and dental checkups.
The PAOCC also offers free medicines and laboratory services, while detainees requiring advanced care are transferred to government hospitals when necessary.
The government allocates PHP2 million ($34,900) monthly for food and medical supplies for the detained workers. Those who can afford private hospitalization are taken to private facilities for emergency treatment, escorted by PAOCC personnel, Bureau of Jail Management and Penology officers, and private security guards.
Several detainees have been diagnosed with tuberculosis, hepatitis B, HIV, and respiratory infections. To prevent outbreaks, individuals with communicable diseases are isolated from the general population.
Macau gaming operator Sands China has announced the donation of MOP1 million in total to five local non-governmental organisations (NGOs) at a cheque presentation ceremony on March 3 at The Venetian Macao to support their responsible gaming promotions and their organisations’ development.
The donation is an annual practice for Sands China, totalling over MOP 8.9 million since 2006. It aims to support the Macao government’s responsible gaming policy and initiatives, and promote the sustainable development of the gaming industry and the local community.
Andy Kobel, SVP of casino operations for Sands China, was joined by Michael Lee, vice president of concession administration and casino compliance, to present the ceremonial cheque to five beneficiaries: the Youth Volunteers Association of Macao, Sheng Kung Hui Macau Social Service Coordination Office, Young Men’s Christian Association of Macau, Macao Gaming Industry Employees Home and Bosco Youth Service Network.
Kobel said: “Sands China has always been committed to corporate social responsibility. The company has supported the responsible gaming promotions of various local social NGOs with these donations for 20 consecutive years. In the last year alone, the company has organised over 150 events, continuing to enhance team members’ and the public’s understanding of responsible gaming.”
“We sincerely thank the Macao SAR Government for its guidance over the years and local organisations for their long-term collaboration with us. We hope that all can continue to maintain close communication and cooperation, continuously optimise responsible gambling education and publicity, and explore new and interesting ways of promotion – in order to jointly support the sustainable and healthy development of the community and build a harmonious and stable Macao society.”
These collaborative initiatives include parent-child responsible gaming and financial management activities, roadshows, workshops, trainings, sharing sessions, responsible gaming promotional videos and quiz games, responsible gaming community promotion day, and others.
Sands China has long focused on responsible gaming, and was the first integrated resort operator to launch a self-exclusion programme in 2004. Responsible gaming training has been part of its company-wide team member orientation programme since it first launched.
Good Morning: Zitro Games has solidified its presence in the Philippines, with its products recognized as “proven performers” in major casinos, such as Newport World Resorts and Okada Manila. In an interview with AGB, Nadège Teyssedre, EMEA Regional Sales Director, expressed confidence in Zitro’s future in the region, supported by a robust 2025 product roadmap. Meanwhile, Melco International Development saw a significant reduction in its losses during 2024, thanks to a recovery in inbound tourism to Macau in 2024 as well as the ramp-up of operations following Studio City Phase 2. Also in Macau, authorities registered a 3.8 percent drop in gaming tax revenue during the year’s first two months.
Macau’s government collected MOP14.24 billion ($1.78 billion) in gaming tax revenue during January and February 2025, representing a 3.8 percent year-on-year decline.
Zitro Games is strategically expanding in Asia, having appointed Bill Stefanakis as Director for Asia and focusing on launching Asian-themed games while complying with the new PAGCOR standards. Nadège Teyssedre, EMEA Regional Sales Director, told AGB in an interview that the company has also begun operations in Laos and sees potential in Thailand‘s emerging casino market. Although Macau remains a long-term goal due to its competitive nature, Zitro is enhancing its offerings in both digital and physical gaming, aiming to create immersive experiences that leverage advanced multimedia capabilities and support cross-channel strategies.
MGM, a leading Macau gaming operator, has partnered with Fnetlink Technology Company Limited, a local tech innovator, to launch a pioneering recycling initiative that transforms used playing cards into eco-friendly packaging materials.
The solution is expected to recycle approximately 3,000 tons of used playing cards annually, achieving a 100% recycling rate. With this initiative, MGM becomes the first integrated resort in Macau to implement a fully localized recycling system for playing cards, demonstrating its strong commitment to environmental protection.
Technology Innovation Driving Circular Economy
In 2023, MGM and Fnetlink started co-developing the world’s first smart, automated card-shredding solution which was designed to boost operational efficiency while reducing the risk of occupational injuries.
MGM and Fnetlink furthered their collaboration this year by launching Macau’s first local program that recycles used playing cards into high-quality recycled fibers—without using water. These fibers are then turned into eco-friendly packaging products. The new solution not only reduces the amount of solid waste significantly compared to existing methods but also eliminates carbon emissions associated with the need for cross-border transportation of shredded cards. Moreover, it realizes the concept of a circular economy while extending the lifecycle of materials once considered waste.
The “Partnership Agreement Signing Ceremony for the Innovative Playing Card Recycling and Upcycling Solution” was held at MGM’s booth at the 2025 Macao International Environmental Co-operation Forum & Exhibition (2025 MIECF).
The agreement was signed by Keith Lei, Senior Vice President of Human Resources and Sustainability of MGM, and Elaine Wong, General Manager of Fnetlink Technology Company Limited.
The ceremony was witnessed by:
Vincent U, President of the Board of Directors of the Commerce and Investment Promotion Institute;
Cheang Hio Man, Deputy Director of the Economic and Technological Development Bureau; Chan Kwok Ho, Head of the Environmental Infrastructure Management Center of the Environmental Protection Bureau;
Wendy Yu, Executive Vice President of Human Resources of MGM; Tian Han, Executive Vice President of Gaming Operations & Strategic Marketing of MGM;
Stanley Wong, Chief Executive Officer of Fnetlink Technology Company Limited.
Keith Lei, Senior Vice President of Human Resources and Sustainability of MGM, said: “This groundbreaking initiative gives new life to our used playing cards. It empowers the circular economy and supports Macau’s development into a low-carbon, diversified economy. Partnering with a local tech company highlights how innovation can play in driving green transformation. It sets a new standard for sustainable growth in the integrated resort industry. Moving forward, MGM will continue to explore advanced technologies to support China’s dual carbon goals and the Long-term Decarbonisation Strategy of Macao proposed by the local government, helping push the city toward a more sustainable future.”
Elaine Wong, General Manager of Fnetlink Technology Company Limited, said: “As a locally certified tech enterprise, Fnetlink is proud to partner with MGM, a company which embraces new technologies, pursues high-quality growth, and adopts a people-centric approach. Their bold implementation of low-carbon environmental technologies offers feasible solutions for Macau’s economic diversification, while creating practical development opportunities and service platforms for the city.”
MGM is once again a proud supporter of the 2025 MIECF. This year, the Company’s booth takes inspiration from the lush greenery of the Spectacle at MGM Cotai, showcasing a vibrant and sustainable landscape. The booth also features the top 10 entries from over 600 teams across China in the “2024 Green, Low-Carbon National Youth Science Popularization Competition”. MGM’s booth setup reflects the Company’s vision of building a low-carbon future in partnership with the community.
On March 27, MGM also sponsored the “Green and Low-Carbon Transformation Cases and Experience Sharing in the Hospitality Industry” event held at the 2025 MIECF, as part of the Company’s ongoing efforts to promote sustainability. The event was hosted by the Low Carbon Green Hotel Development Alliance, and co-organized by the Institute of Energy, Environment and Economy of the Tsinghua University, Macau University of Science and Technology, and the China Green Building and Energy Saving (Macau) Association.
Zitro Games has established a strong presence in the Philippines, where its products have become “proven performers” in major casinos across Entertainment City, according to Nadège Teyssedre, EMEA Regional Sales Director at Zitro Games.
With successful installations at venues such as Newport World Resorts and Okada Manila, Zitro indicates it has built the credibility needed to support its broader ambitions in the Asian market.
Nadège Teyssedre, EMEA Regional Sales Director at Zitro Games
In an interview with AGB, Teyssedre stated, “Now that Zitro’s games are proven performers in several casinos in Entertainment City, we are ready to thrive. Backed by our extensive 2025 product roadmap, we are confident that this will be Zitro’s year in the Philippines.”
Strategic expansion across Asia
Building on its growing momentum in the country, Zitro has appointed Bill Stefanakis as Director for Asia and is expanding its team in Manila.
The company’s immediate priorities include launching games with Asian themes and introducing a new cabinet that complies with PAGCOR Standard 1.1, which is expected to be included in the next deployment at PAGCOR’s casinos. This standard, implemented last year, mandates that only machines meeting its requirements will be permitted for sale in the Philippines starting July 1st, 2024.
Zitro has also expanded its presence to Laos with game placements, reflecting its focus on Southeast Asia as a key growth region. “Zitro has games in Laos, which are performing as expected, and additional placements are planned. Southeast Asian markets are relatively new to us; we are currently exploring and seeking expansion,” Teyssedre noted.
Meanwhile, Thailand represents another significant opportunity as it moves toward legalizing casino operations. “The Thai market presents a significant opportunity that we cannot overlook, as it holds great promise,” Teyssedre said.
Investment bank CLSA predicts that Thailand’s casino market could generate an annual Gross Gaming Revenue (GGR) of $15.1 billion, positioning it as the third-largest globally.
Despite Macau’s status as Asia’s premier gaming destination in terms of GGR and market scale, Zitro is taking a measured approach to this highly competitive market.
“The Macau’s market is not an initial priority for Zitro, given the extensive localization work required and the current lower demand compared to other Asian markets, namely the Philippines. Once we are more established in Asia, we may consider Macau as a target market,” Teyssedre explained. However, the company notes it will maintain its presence at industry events like G2E Asia (in Macau) to ensure brand visibility.
Bridging digital and physical gaming
In response to the increasing convergence of digital and physical gaming experiences, Zitro says it is strategically positioning itself to cater to both sectors.
Teyssedre indicated that Zitro currently supplies game content for online gaming platforms and systems facilitating remote play. The company aims to provide a consistent and engaging experience for Zitro players across all platforms, acknowledging the evolving landscape of land-based, online, and remote gaming.
Looking ahead, she envisions a complementary relationship between online and land-based gaming: “Operators will apply cross-selling strategies to grow sales in both the land-based and online gaming worlds. However, land-based casinos must offer experiences that online gaming cannot replicate.”
She emphasized the role of slot manufacturers in this evolution: “Slot manufacturers can support land-based operators by offering more attractive, larger, and brighter slot form factors with enhanced multimedia capabilities—creating immersive gaming experiences that today’s online technologies cannot match.”
The group believes its CONCEPT product line exemplifies this approach, delivering immersive experiences with advanced multimedia features. The company also supports land-based operators with remote play options, allowing players to enjoy games without being physically present.
“Land-based casinos should consider offering remote play as a tool to enable players to enjoy their favorite slots without being inside the casino building.”
