• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Casino investor Success Universe warns of higher losses

Jan 20, 2017 Newsdesk Latest News, Macau, Top of the deck  


Casino investor Success Universe warns of higher losses

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 year ended December 31, 2016. The company reported a consolidated loss after tax of approximately HKD11.6 million (US$1.5 million) for full-year 2015.

“The group is expected to record an increase of around one to three times in the consolidated loss after tax for the year ended 31 December 2016,” Success Universe said in a filing to the Hong Kong Stock Exchange.

The firm additionally said that based on the unaudited management accounts for the first 11 months of 2016, it recorded “a significant increase” of the consolidated loss after tax compared to the corresponding period of 2015.

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.

In Thursday’s filing, 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; a significant decrease in operating revenue and increase in loss at its lottery business in mainland China; and an impairment loss on the carrying value of the trademark of the group’s travel business.

The Hong Kong-listed company posted a net loss of HKD12.6 million for the six months to June 30, nearly a sixfold increase from the HKD1.9-million loss recorded in the prior-year period.


  • tweet
Related articles
  • Macau satellites may persist past 3-yr transition, says exec
    Macau satellites may persist past 3-yr...

    Jan 19, 2023  

  • SJM able to deleverage once GLP ramps up: Fitch
    SJM able to deleverage once GLP ramps...

    Jan 09, 2023  

More news
  • Junket boss Levo Chan heard okaying illicit bets: court
    Junket boss Levo Chan heard okaying...

    Jan 30, 2023  

  • Macau visitor momentum kept for post CNY weekend
    Macau visitor momentum kept for post...

    Jan 30, 2023  


Latest News

Junket boss Levo Chan heard okaying illicit bets: court

Junket boss Levo Chan heard okaying illicit bets: court

Jan 30, 2023  

A Macau court was offered evidence on Monday, including of recordings from police-wiretapped telephone conversation, that the prosecution says proves the direct involvement of Levo Chan Weng Lin...
Read More
Macau visitor momentum kept for post CNY weekend

Macau visitor momentum kept for post CNY weekend

Jan 30, 2023  

South Korea extends travel restrictions on China arrivals

South Korea extends travel restrictions on China arrivals

Jan 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


451,047

Aggregate number of visitors to Macau during the Chinese New Year holiday period



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Almost half million visitors to Macau for 7 days of CNY holsAlmost half million visitors to Macau for 7 days of CNY hols January 30, 2023
  • Macau visitor momentum kept for post CNY weekendMacau visitor momentum kept for post CNY weekend January 30, 2023
  • G2E Asia in-person for Macau in 2023, first time since 2019G2E Asia in-person for Macau in 2023, first time since 2019 January 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us