• 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

Success Universe support for Ponte 16 refinancing

Jun 21, 2021 Newsdesk Latest News, Macau, Top of the deck  


Success Universe support for Ponte 16 refinancing

Success Universe Group Ltd, an investor in Macau casino hotel Ponte 16 (pictured), says it will be acting as a 49-percent guarantor for an amended and restated facility to assist the property’s promoter refinance its existing loan facilities, general working capital, and to finance the payment of a land premium.

Success Universe controls 49 percent of an entity called Pier 16 – Property Development Ltd, that operates the Ponte 16 casino hotel, at Macau’s Inner Harbour district. The remaining 51-percent stake is controlled by a unit of Macau casino concessionaire SJM Holdings Ltd.

In a Friday filing, Success Universe said that Pier 16 – Property Development is to sign an amended and restated facility agreement with the lender, Industrial and Commercial Bank of China (Macau) Ltd.

Under the agreement, the revised facilities shall be in the aggregate amounts of HKD500 million (US$64.4 million) and MOP273 million (US$34.0 million), stated the Hong Kong-listed company. The new maturity is set at 24 months from the signing date of the amended agreement.

As of Friday, the total outstanding principal amount of the loan under Pier 16 – Property Development’s existing facilities was approximately HKD185 million. The existing facilities will mature on June 29, 2022.

The Ponte 16 property recorded negative adjusted earnings before interest, taxation, depreciation and amortisation of HKD242.9 million for full-year 2020. That compares with a positive figure of HKD377.5 million in 2019, according to a March filing.


  • tweet
Related articles
  • Moody’s downgrades SJM debt on slow Macau recovery
    Moody’s downgrades SJM debt on slow...

    May 16, 2022  

  • Melco Resorts 1Q EBITDA of US$56mln, narrows loss
    Melco Resorts 1Q EBITDA of US$56mln,...

    May 06, 2022  

More news
  • Andrew Lo takes controlling stake in Suncity, Summit Ascent
    Andrew Lo takes controlling stake in...

    May 19, 2022  

  • Okada Manila chair Manuel Lazaro dies aged 87
    Okada Manila chair Manuel Lazaro dies...

    May 19, 2022  


Latest News

Andrew Lo takes controlling stake in Suncity, Summit Ascent

Andrew Lo takes controlling stake in Suncity, Summit Ascent

May 19, 2022  

Andrew Lo Kai Bong (pictured), a senior executive at Hong Kong-listed casino investor Suncity Group Holdings Ltd, acquired controlling shares in the firm with effect from May 13, according to...
Read More
Okada Manila chair Manuel Lazaro dies aged 87

Okada Manila chair Manuel Lazaro dies aged 87

May 19, 2022  

Bloomberry plans 3rd Philippine casino, coastal near Manila

Bloomberry plans 3rd Philippine casino, coastal near Manila

May 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$403.9 million

Interim normalised profit after tax and amortisation reported by slot machine maker and online gaming content provider Aristocrat Leisure



Most Popular

  • 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
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for ChinaU.S. says Steve Wynn ‘foreign agent’, lobbied for China May 18, 2022
  • Alleged bribe offer to ex-Wynn manager probed by HK, MacauAlleged bribe offer to ex-Wynn manager probed by HK, Macau May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us