• 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 op in property deal for Hong Kong’s Wan Chai

Aug 24, 2018 Newsdesk Latest News, Macau, Rest of Asia, Top of the deck  


Ponte 16 op in property deal for Hong Kong’s Wan Chai

Success Universe Group Ltd, the operator of the Ponte 16 casino and hotel complex in Macau, says it has agreed to buy commercial space in a building in Wan Chai, Hong Kong, for HKD106.8 million (US$13.7 million).

Success Universe told the Hong Kong Stock Exchange that a subsidiary, Total Gain Ltd, and the seller, catering services and property investment company Concept Italian Co (HK) Ltd, had reached a preliminary agreement on Wednesday.

The investment property is the 34th floor and storeroom at Sunshine Plaza in Lockhart Road. The space, now occupied by the seller, has a gross area of about 5,134 square feet (about 477 square metres). Success Universe said it was buying as an investment, adding the building’s price and suitability for third-party rental were attractive.

Success Universe stated its subsidiary paid an initial deposit of HKD5 million, will pay a further deposit of HKD5.68 million on or before 4 September, and will pay the other HKD96.12 million on or before October 5. The buyer says it will use its own money or borrow – or both – in order to cover the cost. The buyer and seller are due to conclude the formal agreement on the deal on or before 4 September and complete the deal on or before 5 October, Success Universe said.

Success Universe was required to make the deal public as it is considered a “discloseable transaction” under the exchange’s listing rules.

Earlier this month, Success Universe said it expected to record a profit for the first half of the year – thanks to its expected share of returns from Ponte 16 – turning round the first-half loss it made during the same period last year.


  • tweet
Related articles
  • Macau satellites seek biz model leeway, says Ponte 16 boss
    Macau satellites seek biz model leeway,...

    May 26, 2022  

  • Macau satellites declining before law update: experts
    Macau satellites declining before law...

    Apr 07, 2022  

More news
  • Alvin Chau indicted for illegal gaming, money laundering
    Alvin Chau indicted for illegal gaming,...

    May 26, 2022  

  • SJM confident of completing refinancing: Daisy Ho
    SJM confident of completing...

    May 26, 2022  


Latest News

Alvin Chau indicted for illegal gaming, money laundering

Alvin Chau indicted for illegal gaming, money laundering

May 26, 2022  

Macau’s Public Prosecutions Office has indicted Alvin Chau Cheok Wa (pictured in a file photo), former boss of Macau casino junket Suncity Group, with illegal gaming, criminal association, fraud,...
Read More
SJM confident of completing refinancing: Daisy Ho

SJM confident of completing refinancing: Daisy Ho

May 26, 2022  

Casino op Genting Malaysia 1Q revenue up 176pct

Casino op Genting Malaysia 1Q revenue up 176pct

May 26, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


540,430

Visitors arrivals to Singapore in the first four months of 2022



Most Popular

  • Wynn Macau Ltd asks managers to take 10pct wage in stockWynn Macau Ltd asks managers to take 10pct wage in stock May 24, 2022
  • Alvin Chau indicted for illegal gaming, money launderingAlvin Chau indicted for illegal gaming, money laundering May 26, 2022
  • Marina Bay Sands to hire up to 2,000 workers: firmMarina Bay Sands to hire up to 2,000 workers: firm May 26, 2022
  • Macau satellites seek biz model leeway, says Ponte 16 bossMacau satellites seek biz model leeway, says Ponte 16 boss May 26, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us