Macau casino Ponte 16 gets approval for non-gaming expansion
Ponte 16 has been allowed to add a commercial building.
Macau.- Raimundo do Rosário, Macau’s secretary for transport and public works, has announced that Ponte 16 casino resort complex has been allowed to expand its non-gaming facilities. The venue’s public land concession has also been renewed.
The gross construction area approved for the new developments is 11,614 square metres. The land concessionaire, Ponte 16 – Desenvolvimento Predial SA, must complete the developments within 36 months.
Ponte 16, which is situated on the waterfront of Macau’s Inner Harbour, has been allowed to add a commercial building, plaza, and a ship named Macau Palace. The name was previously associated with a floating casino previously operated by SJM Holdings, which has a stake in Ponte 16 and provides its gaming licence.
The other partner in Ponte 16 is Success Universe Group. In December 2022, shortly after SJM Holdings secured a new 10-year gaming concession, the company indicated that the Macau Palace structure would be transformed into a facility accommodating shops, dining options, and a museum-like space.
In February, Success Universe outlined plans to develop a shopping mall and an open-air “plaza” next to Ponte 16 with an estimated investment of HK$500m (US$64m).
For the first half of the year, Success Universe posted a net loss of HK$35.5m (US$4.6m). That compares with an unaudited consolidated profit of HK$153.8m (US$19.7m) for the corresponding period last year.
