• 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

Ponte 16 adjusted EBITDA up by 51 pct in 1H

Aug 28, 2014 Newsdesk Latest News, Macau, Top of the deck  


Ponte 16 adjusted EBITDA up by 51 pct in 1H

Macau casino hotel Ponte 16 (pictured) posted an increase of 51 percent in adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first half of 2014, Hong Kong-listed Success Universe Group Ltd announced on Thursday.

Adjusted EBITDA of the property increased to HKD260.0 million (US$33.5 million) from HKD172.5 million one year earlier.

“This was mainly attributable to the steady growth in the number of visitors to Macau as well as the increase in gaming revenue from the mass market,” Success Universe said in its interim results announcement.

The company is a joint venture partner with a unit of SJM Holdings Ltd in the casino hotel, located on the Macau peninsula.

Shared profit relating to Ponte 16 and attributable to the associates for the first half of 2014 was HKD56.3 million, up by 366 percent in year-on-year terms, Success Universe said.

As of June 30, the casino at Ponte 16 had 109 gaming tables, of which 84 were mass gaming tables, 9 were “high-limit” and 16 were VIP tables.

A planned third phase to the resort is still under review by the Macau government, Success Universe said. The extension would have a gross floor area of approximately 40,000 square metres (430,556 square feet). It would include a shopping arcade, an entertainment and recreation complex and dining outlets as well as gaming zones.

Success Universe recorded an overall turnover of HKD730.6 million for the six months ended June 30, a 12-percent year-on-year decrease.

Profit dropped by one third to HKD47.7 million, affected by the non-recurrence of the HKD83.4-million gain from derecognition of a long-term payable following the exercise of an option by Maruhan Corp recorded in the first half of 2013.

At the time, Japanese pachinko hall operator Maruhan exercised a contractual right to sell its 10.2 percent interest in World Fortune Ltd, an indirect non-wholly owned subsidiary of Success Universe, together with the shareholder’s loans provided by Maruhan to World Fortune. Maruhan was recorded as the second largest shareholder of Success Universe, with a stake of 19.42 percent as of end-December 2013.

Success Universe is active in other gaming-related segments beyond casinos. Up until July, it had a 55-percent interest in casino cruise ship M.V. Macau Success. It has now been sold.

For the six months ended June 30, turnover of the cruise ship business was HKD44.5 million, representing an increase of 6 percent in year-on-year terms. The business recorded a profit of HKD0.9 million as compared to HKD2.1 million one year earlier.

The firm is also involved in offering lottery sales agency services in mainland China.

Success Universe did not declare an interim dividend.


  • tweet
Related articles
  • Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct
    Ponte 16 narrows 2022 EBITDA loss,...

    Mar 30, 2023  

  • Paradise Ent posts US$20mln loss in 2022, rev down 40pct
    Paradise Ent posts US$20mln loss in...

    Mar 29, 2023  

More news
  • LET Group narrows year loss, Manila site open end 2024
    LET Group narrows year loss, Manila...

    Mar 31, 2023  

  • Jeju Shinhwa op narrows loss, gets extension from Pagcor
    Jeju Shinhwa op narrows loss, gets...

    Mar 31, 2023  


Latest News

LET Group narrows year loss, Manila site open end 2024

LET Group narrows year loss, Manila site open end 2024

Mar 31, 2023  

Hong Kong-listed LET Group Holdings Ltd, an investor in a number of Asia-Pacific region casino projects, reported in Thursday filing an annual loss attributable to shareholders of just under...
Read More
Jeju Shinhwa op narrows loss, gets extension from Pagcor

Jeju Shinhwa op narrows loss, gets extension from Pagcor

Mar 31, 2023  

Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct

Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct

Mar 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Efforts have pivoted to the construction of the hotel tower, with plans to launch a soft opening before the end of 2024 and a grand opening in 2025”

Casino investor LET Group

On the development of a casino hotel in Manila, the Philippine capital



Most Popular

  • Sands China ups ties to China showbiz giant Star CMSands China ups ties to China showbiz giant Star CM March 29, 2023
  • Suntrust confirms casino hotel 2024 opening on trackSuntrust confirms casino hotel 2024 opening on track March 29, 2023
  • Japan govt delays IR decision due to local elections: reportJapan govt delays IR decision due to local elections: report March 30, 2023
  • GEN Singapore boss flags uneven recovery pace in 2023GEN Singapore boss flags uneven recovery pace in 2023 March 28, 2023
  • Macau got 16k mainland package tourists in Feb reopeningMacau got 16k mainland package tourists in Feb reopening March 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us