Success Universe posts US$36.57m loss for 2022

Success Universe has reported negative earnings of HK$46.2m (US$5.9m) at Ponte 16.

Macau.- The casino investor Success Universe Group Limited has shared its financial results for the full-year 2022. Revenue was down 24.1 per cent year-on-year to HK$114.8m, and the company posted a loss attributable to owners of HK$287.1m, down from a HK$4.9m profit in 2021.

The loss was mainly caused by the recognition of a HK$174.1m fair value loss on the group’s overseas-listed equity securities, a fair value loss on investment properties and a write-down of the group’s properties stock of approximately HK$20m (US$2.62m).

For the casino hotel Ponte 16, the company posted negative adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HK$46.2m (US$5.9m) for the year. The group’s shared loss relating to Ponte 16 decreased by approximately 13 per cent to HK$42.1m (US$5.36m).

According to the company, the average occupancy rate of Sofitel Macau At Ponte 16 was approximately 48 per cent, down from 52 per cent in 2021.

Yeung Hoi Sing, Sonny, chairman of Success Universe Group Limited commented, “As the pandemic is fading away, the Group is optimistic about the future. 

“In 2023, the group will focus on strengthening its position in the entertainment and tourist-related industries while optimising its investment property portfolio to create long-term value for its stakeholders. 

“As the market continues to recover, the group will take proactive steps to keep pace with the changing marketplace and create a sustainable value in the long run.”