Success Universe returns to profit in H1

Success Universe has reported its first profit since 2022.

Macau.- The casino investor Success Universe Group has announced that it achieved a consolidated profit ranging from HK$130m (US$16.6m) to HK$170m (US$21.6m) in H1. It made the announcement in an unaudited filing.

During the corresponding period in 2022, the company recorded a loss of approximately HK$125.5m. The shift is attributed to a substantial fair value gain in relation to overseas-listed equity securities.

In the first half of 2022, the group incurred a fair value loss of around HK$97m.

Looking ahead, it says the Ponte 16 resort is ready for the third phase of expansion, featuring the addition of the Macau Palace floating casino. The group will invest an estimated MOP100m (US$12.4m) with the aim of turning Macau Palace into a cultural destination with dining, retail and a gaming culture museum. Discussions with the SAR government are underway to finalise details, and the group is seeking financing from banks.