• 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
  • Possible US$637mln loan via STDM to shore SJM: mgmt
    Possible US$637mln loan via STDM to...

    May 04, 2022  

  • SJM only about six months of liquidity runway: JP Morgan
    SJM only about six months of liquidity...

    Apr 25, 2022  

More news
  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  

  • Crown Resorts’ shareholders nod Blackstone bid
    Crown Resorts’ shareholders nod...

    May 20, 2022  


Latest News

Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June 1

May 20, 2022  

South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
Read More
Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"

Satoru Aoyama, Akash Gupta and Kalai Pillay

Analysts at credit rating agency Fitch



Most Popular

  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
  • Melco to launch family attraction at Studio City in JuneMelco to launch family attraction at Studio City in June May 19, 2022
  • Bloomberry plans 3rd Philippine casino, coastal near ManilaBloomberry plans 3rd Philippine casino, coastal near Manila May 19, 2022
  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us