Success Universe expects consolidated profit of up to US$24.3m for 2023

Full results will be published later this month.

Macau.- The casino investor Success Universe Group Limited, which operates Macau’s Ponte 16 casino, has issued an update announcing that it expects to post an unaudited consolidated profit of between HK$160m and HK$190m (US$20.4m and US$24.3m) for the year 2023, up from a loss of HK$287.1m a year earlier.

This is primarily due to a profit for the associates on Ponte 16 for 2023 and a fair value gain on the group’s overseas-listed equity securities compared to a fair value loss of approximately HK$174.1m in 2022. Final results for the year ended December 31 will be published in late March.

In February, Success Universe Group announced plans for the third phase of Ponte 16, with an estimated investment of HK$500m (US$64m). The expansion includes a shopping mall and is expected to kick off later this year.