Tuesday, July 16, 2024
HomeNewsMacauPonte 16 operator flags profit up to $24.3M in FY23

Ponte 16 operator flags profit up to $24.3M in FY23

Success Universe Group, an investor in Macau’s Ponte 16 hotel-casino property, states that it expects to record an unaudited consolidated profit for 2023 in the range of approximately HK$160 million ($20.5 million) to HK$190 million ($24.3 million).

According to the filing to the Hong Kong Stock Exchange, Success Universe notes that the expected profit is compared with an audited consolidated loss of approximately HK$287.1 million ($36.7 million) in FY22.

The firm attributes the substantial profit to Ponte 16, the group’s flagship investment project, last year, while reporting a loss of HK$42.1 million ($5.4 million) for Ponte 16 in the previous period.

Success Universe’s financial situation started to improve significantly after Macau’s reopening in January 2023, and the group has already flagged a return to profit since the first half of 2023.

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