Success Universe Group, an investor in Macau casino hotel Ponte 16 (File Photo), said it expects the company’s consolidated profit to be in the range of “approximately HK$130 million (HK$16.6 million to HK$170 million) in the first half of 2023. It said this compares to an unaudited consolidated loss of HK$125.5 million for the period.
Success Universe is a joint venture partner with casino concession company SJM Holdings Ltd at Ponte 16 in Macau’s Inner Harbor area.
In a filing with the Hong Kong Stock Exchange on Wednesday, the company noted that the expected turnaround was related to Ponte 16’s profit-making in the six months ended June 30. The Hong Kong-listed company said the group’s officials related to Ponte 16 had a joint loss of about HK$9.6 million in the first half of 2022.
The company said its projected profit for the first six months of the year was also a result of “a substantial increase in fair value for the group’s overseas-listed stock securities” during the period, with a fair value loss of HK$97 million for the period last year.
The company is still finalizing its unaudited results for the first half of the year. It is expected to be released later this month.
SUCCESSFUL UNIVERSE REPORTED A LOSS TO OWNERS Just Below HK$287.1 MILLION IN 2022, COMPARED TO HK$4.9 MILLION IN 2021.
Hoffman Ma Ho Man Success Universe Vice President told GGRAsia in June that a “three-story shopping mall” and outdoor “square” were being proposed to local governments as part of Ponte 16’s expansion.
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