Success Universe expects big losses for H1

Success Universe predicts net losses as high as HK$150 million (US$19.3 million) for the first half of the year.

Macau.- Success Universe Group, an investor in the Ponte 16 venue in Macau, has revealed it expects to report net losses of between HK$120 million (US$15.4 million) and HK$150 million (US$19.3 million) for the first half of the year.

In the same period last year, the group had recorded consolidated profit of HK$48.7 million (US$6.2 million).

The company attributed the decline to the group’s share of a “substantial loss” relating to the Ponte 16 complex as a result of the outbreak of Covid-19, according to a filing sent to the Hong Kong Stock Exchange.

Success Universe is a partner in venue in Macau’s Inner Harbour district with a unit of casino concessionaire SJM Holdings.