Hong Kong-listed Success Universe recorded a HK$410.38 million ($52.37 million) loss for FY25, at the top end of expectations indicated in mid-March, following the closure of the group’s satellite casino operation in Macau at Ponte 16 last year.
The group had initially been expecting a loss of HK$370-410 million ($47.22-52.32 million).
The figure reverses a profit of HK$93 million ($11.88 million) recorded in 2024, and arises from the closure of the satellite casino – which operated for over 17 years – on November 28th, 2025.
The group had initially hoped to maintain the Ponte 16 casino open, with concession-holder SJM indicating it could be one of two properties it was planning to acquire in order to maintain the casino operation.
Macau law mandated the closure of all satellite casinos by December 31st of last year.
While L’Arc Hotel & Casino was integrated into SJM Resorts’ portfolio in December, Ponte 16 was not, causing serious investor concern, due to the heavy investment in what has become an entirely non-gaming asset on Macau’s peninsula.
This resulted in a loss linked to the group’s interest in the casino of approximately HK$340.7 million ($43.48 million) for the year.
Success Universe registered the last year of revenues from the satellite casino operation in FY25, seeing a share of profit amounting to HK$112 million ($14.3 million), helping boost the group’s revenue to HK$59.7 million ($7.62 million), up by 16 percent yearly.
However, how the group will revamp its business after the closure of the casino is uncertain. The group highlighted that it ‘remains committed to its investment in the Ponte 16 project’ and that its ‘strategic focus will shift towards maximizing the value of non-gaming assets while continuing to explore new hospitality and leisure-entertainment opportunities to drive sustainable long-term value’.
Amongst the significant loss, the group does not recommend the payment of a dividend for FY25.
