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Success Universe Group flags return to profit in 2023

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. 

According to a positive profit alert from the company on Wednesday, Success Universe said the expected profit is mainly attributable to a fair value gain on the Group’s overseas-listed equity securities and a profit of the associates relating to Ponte 16, the flagship investment project of the Group.

Success Universe Group planned to refinance up to HK$490 million ($62.6 million) in loans provided to Macau’s Ponte 16 in June.  

The company pledged to guarantee 49 percent of the payment obligation of Pier 16 – Property Development, while all existing loan facilities with the Industrial and Commercial Bank of China (Macau) were meant to mature .

AGBrief Editorial
AGBrief Editorial
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.



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