Success Universe Group Ltd, an investor in Macau casino hotel Ponte 16 (pictured), said on Thursday that it expects to record a higher consolidated loss after tax for the six months ended June 30 compared to the prior-year period. The company reported a consolidated loss after tax of approximately HKD12.6 million (US$1.6 million) for the first half of 2016.
“Based on a preliminary review of the draft unaudited consolidated management accounts of the group for the six months ended 30 June 2017, the group is expected to record a significant increase of the unaudited consolidated loss after tax… by approximately 50 percent as compared with that of the corresponding period of 2016,” Success Universe stated in a filing to the Hong Kong Stock Exchange.
Success Universe said that the expected increase in the consolidated loss was mainly attributable to: a reduction in shared profit relating to casino hotel Ponte 16; and a decrease in operating revenue and increase in loss of the group’s travel business.
Success Universe is a joint venture partner with a unit of SJM Holdings Ltd in casino hotel Ponte 16, on the Macau peninsula. The firm also has a sports lottery sales agency network covering a few provinces in mainland China.
The company’s executive director and co-chairman Hoffman Ma Ho Man told GGRAsia in June that Success Universe was revamping the gaming zones for VIP play and “high-limit” play at the Ponte 16.
The Hong Kong-listed company posted a net loss of nearly HKD31.0 million for full 2016, a sharp increase of 364.4 percent from the HKD6.7-million loss recorded in 2015.
Aug 16, 2018Food and drink have been heavily marketed as part of Macau...
Jun 27, 2018Macau’s gaming law needs to be amended in order to...
Jun 25, 2018Electronic casino game distributor Asia Pioneer...
Aug 20, 2018The promoter of a new US$1.5-billion casino resort and theme park planned for Manila has issued a clarification on activity occurring at its site, after a local news outlet published an editorial...
Aug 20, 2018
Aug 20, 2018
"If you ask who is controlling [Okada Holdings, the controlling shareholder of conglomerate Universal Entertainment] now, I would say my control was fraudulently taken away from me and I am now doing everything in my power to take it back"
Japanese gaming entrepreneur