• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Success Universe returns to profit as Ponte 16 biz improves

Mar 29, 2019 Newsdesk Latest News, Macau, Top of the deck  


Success Universe returns to profit as Ponte 16 biz improves

Macau casino investor Success Universe Group Ltd reported a profit attributable to shareholders of nearly HKD54.5 million (US$6.9 million) for 2018, having made a loss the year before. The positive result for full-year 2018 was due mainly to its share of profit flowing from the Ponte 16 casino hotel (pictured) in Macau, the company said on Thursday in a filing to the Hong Kong Stock Exchange.

Success Universe’s share of the profit from the Ponte 16 complex for the year of 2018 was approximately HKD68.1 million, compared with a loss of approximately HKD9.9 million in 2017.

Located on the Macau peninsula and operated under SJM Holdings Ltd’s gaming licence, the Ponte 16 casino had – as of end-2018 – 97 gaming tables for the mass market, seven high-limit gaming tables and five VIP gaming tables in December.

For the year ended December 31, group-wide revenue was slightly above HKD1.12 billion, up by 89.9 percent from HKD589.9 million for the same period of 2017, positively impacted by a revenue increase in the firm’s travel business. The group’s cost of sales however increased by 90 percent year-on-year, to nearly HKD1.09 billion.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the Ponte 16 complex increased by 58 percent year-on-year, to HKD356.7 million in 2018.

Success Universe made a full-year loss of about HKD29.8 million in 2017, losing money for the second year in a row, partly because business at Ponte 16 was disrupted by floodwaters caused by Super Typhoon Hato – the city’s worst fiercest storm in 53 years. The company also reported a one-time loss on the sale of a lottery in mainland China.

A Success Universe subsidiary bought a commercial property in Wan Chai, Hong Kong, for HKD106.8 million last August, adding to the group’s property portfolio.

Revenue of the property investment business in 2018 amounted to approximately HKD30.1 million, representing an increase of nearly 362 percent as compared with approximately HKD6.5 million for the last corresponding year. Segment profit however fell to approximately HKD37.7 million, compared with nearly HKD83.4 million in 2017, said the firm.


  • tweet
Related articles
  • CNY 2021 unlikely to boost Macau casinos, say observers
    CNY 2021 unlikely to boost Macau...

    Jan 15, 2021  

  • Melco Resorts debt/EBITDA ratio to worsen in 2021: Moody’s
    Melco Resorts debt/EBITDA ratio to...

    Jan 14, 2021  

More news
  • Mass market play record 65pct Macau GGR in 4Q: govt
    Mass market play record 65pct Macau GGR...

    Jan 15, 2021  

  • Malaysia Covid outlook negative to Genting Bhd: Moody’s
    Malaysia Covid outlook negative to...

    Jan 15, 2021  


Latest News

CNY 2021 unlikely to boost Macau casinos, say observers

CNY 2021 unlikely to boost Macau casinos, say observers

Jan 15, 2021  

Recent advisory notices issued by a number of local authorities in mainland China, calling on residents not to travel during the February Chinese New Year (CNY) break, further clouds the prospects...
Read More
Mass market play record 65pct Macau GGR in 4Q: govt

Mass market play record 65pct Macau GGR in 4Q: govt

Jan 15, 2021  

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Jan 15, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”

Vitaly Umansky, Kelsey Zhu and Tianjiao Yu

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • Sheldon Adelson, self-declared casino industry iconoclastSheldon Adelson, self-declared casino industry iconoclast January 13, 2021
  • Casino entrepreneur Sheldon Adelson dies aged 87Casino entrepreneur Sheldon Adelson dies aged 87 January 12, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Revamped Nüwa hotel reopens Feb 8, says City of DreamsRevamped Nüwa hotel reopens Feb 8, says City of Dreams January 12, 2021
  • Suncity Macau VIP roll 20pct of pre-Covid level: GSSuncity Macau VIP roll 20pct of pre-Covid level: GS January 12, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us