GGRAsia – Success Universe flags 1H profit, first since 2014

Success Universe flags 1H profit, first since 2014

Aug 21, 2018 Newsdesk Latest News, Macau, Top of the deck

Macau casino investor Success Universe Group Ltd says it expects to record a profit for the first half of 2018, compared to a loss in the equivalent period a year earlier.

The group most recently made a first-half profit in 2014.

Success Universe is a venture partner – alongside a unit of gaming operator SJM Holdings Ltd – in casino hotel Ponte 16 (pictured), located on the Macau peninsula, which operates under SJM Holdings’ gaming licence.

The trading improvement for Success Universe – based on the unaudited accounts for the six months to June 30 – was “mainly attributable to the increase in fair value gain on investment properties of the group; and the group’s share of profit of the associates relating to Ponte 16,” the group said in a Monday filing to the Hong Kong Stock Exchange.

In first-half 2017, Success Universe had posted a net loss of approximately HKD21.1 million (US$2.7 million). That had been a 67-percent widening of the HKD12.6-million deficit posted in the first six months of 2016.