Success Universe posts HK$4.9m profit for 2021

Revenue was down 58 per cent year-on-year from HK$363.8m to HK$151.1m.
Revenue was down 58 per cent year-on-year from HK$363.8m to HK$151.1m.

Success Universe, which operates Macau’s Ponte 16 casino, has shared its financial results for the year ended December 31.

Macau.- The casino investor Success Universe Group Limited has revealed that it returned to profit in 2021 despite a sharp drop in sales. The company reported a profit of HK$4.9m (US$536,000) despite revenue being down 58 per cent year-on-year from HK$363.8m in 2020 to HK$151.1m.

Success said its associated losses related to Ponte 16 were significantly reduced to HK$48.7m in 2021, compared with HK$145.7m in the previous year.

The company said: “As affected by the recent spread of more transmissible variants of the Covid-19 pandemic including Omicron and Delta, a full economic recovery will likely take more time. Rising geopolitical tensions across the world also put pressure on the market.”

At the end of 2021, there were 101 gaming tables at Ponte 16, including 91 mass-market gaming tables and 10 high-stakes gaming tables. The average occupancy rate of its Sofitel hotel increased to over 50 per cent. The property recorded an Adjusted EBITDA loss of approximately HK$57.6m.

Last year, the company purchased a total of about 23.4 units of bitcoin for HK$10.1m, losing about HK$1.7m in depreciation in the process.

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