Success Universe reports US$18m net loss for 2020
Casino operator Success Universe, which operates Macau’s Ponte 16 casino, has reported revenue of HKD363.8m for full-year 2020.
Macau.- Macau casino investor Success Universe Group Limited has reported a loss attributable to owners of the company of HK$141.9m (US$18.3m) for 2020, compared to a profit of HK$74.2m (US$9.5m) for 2019.
The company, which operates Ponte 16 in Macau, reported overall losses of HK$145.7m (US$18.7m) in 2020, compared to a profit of HK$116.8m (US$15.0m) in 2019. It reported revenue of approximately HKD363.8m, down 68.3 per cent from 2019.
The company attributes the majority of the decrease to the impact of the Covid-19 pandemic, which “inevitably affected” Ponte 16’s gaming and hotel occupancy performance.
Ponte 16 reported an adjusted EBITDA loss of HK$242.9m (US$31.2m) for 2020.
The company said its recovery will depend heavily on the evolution of Covid-19 and the progress with vaccination.
The group also said it would consider other investment tools when and as appropriate.