Success Universe posts gross profit of US$960,000 in H1

The casino operator has reported revenue of HK$68.4m (US$8.7m).

Macau.- Success Universe Group, the investment entity behind Macau’s Ponte 16, has unveiled its financial results for the first half of the year. Gross profit grew 41 per cent on year-on-year terms from HK$1m to HK$7.5m (US$960,000).

Revenue was up 26 per cent to HK$68.4m (US$8.7m). Shared profit associated with Ponte 16 reached HK$71.6m (US$9.1m), compared to a loss of HK$9.6m (US$1.2m) last year. Net profit attributable to owners reached HK$153.8m (US$19.6m), with earnings per share of 3.12 HK cents.

The shift from loss to profit was primarily attributed to the acknowledgement of a substantial fair value gain on the Group’s overseas-listed equity securities totalling HK$105.5m (US$13.4m), coupled with the group’s share of profit from Ponte 16.

The average occupancy rate of Sofitel Macau At Ponte 16 reached 85 per cent, compared to 46 per cent in the same period of the prior year. Ponte 16 operates under SJM’s gaming licence with 109 gaming tables – 103 mass tables and six high-limit tables.