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Ponte 16 investor reports 35 percent growth in gross profits for 2023

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Success Universe Group, an investor in Macau’s Ponte 16, posted a gross profit of HK$16.8 million ($2.2 million) in 2023, up 35 percent compared to 2022.

However, according to the company’s financial results for FY23, Success Universe’s revenue was down 11 percent to HK$101.9 million ($13 million) from approximately HK$114.8 million ($14.7 million) for the last corresponding year.

The Hong Kong-listed company notes that profit attributable to owners for the year ended 31 December 2023 was approximately HK$169.3 million ($21.6 million) versus a loss of approximately HK$287.1 million ($36.7 million) in 2022.

The firm posted an adjusted EBITDA of approximately HK$334.1 million ($42.7 million), while adjusted EBITDA was a loss of approximately HK$46.2 million ($5.9 million) in 2022.

According to the filing to the Hong Kong Stock Exchange, the directors of the company ‘do not recommend any payment of a final dividend’ for 2023.

Success Universe also updated that the casino of Ponte 16 had 109 gaming tables in operation, consisting of 103 mass tables and 6 high-limit tables.

The average occupancy rate of Sofitel Macau At Ponte 16 reached approximately 83 percent last year, while the occupancy rate of the hotel was only 48 percent in 2022.

The hotel occupancy results were achieved considering the substantial 23.5 percent increase in overall hotel room supply in Macau during the year.

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

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