{"id":10953,"date":"2020-10-15T22:37:59","date_gmt":"2020-10-15T22:37:59","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=10953"},"modified":"2026-04-24T00:56:19","modified_gmt":"2026-04-24T03:56:19","slug":"success-grants-new-loan-to-ponte-16-operator","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-grants-new-loan-to-ponte-16-operator","title":{"rendered":"Success grants new loan to Ponte 16 operator"},"content":{"rendered":"\n

The company lent Pier 16 over US$5m in July and in October the operator requested another US$2.5m.\u00a0<\/p>\n\n\n\n\n\n\n\n

Macau- Success Universe Group has granted a further loan to Pier 16 \u2013 Property Development to lend the operator of Ponte 16 integrated resort a total of\u00a0HK$58.8 million (US$7.58 million).\u00a0\u00a0<\/p>\n\n\n\n

On\u00a0July 15, the group announced financial assistance of HK$39.2 million (US$5.05 million) to help the operator cope with the impact of the Covid-19 pandemic. This month, Pier\u00a016 requested\u00a0the loan be increased and extended until December 2020.\u00a0\u00a0<\/p>\n\n\n\n

Success\u00a0Universe said in a filing: \u201cWith the suspension of group and individual travel visas from the Mainland China, the pandemic is inevitably hitting Ponte 16\u2019s\u00a0gaming performance and the Group\u2019s shared loss of the associates relating to Ponte 16 for the first half of 2020 was approximately HK$64 million (US$8.25 million).\u201d\u00a0<\/p>\n\n\n\n

The financial aid is in line with a 2007 agreement under which Success Universe\u00a0owns\u00a049 per cent of the shares in Pier 16 through its subsidiary World Fortune. It also finances operating costs.\u00a0The remaining 51 per cent is owned by SJM-IL, a subsidiary\u00a0of Sociedade\u00a0de\u00a0Jogos\u00a0de Macau.\u00a0<\/p>\n\n\n\n

Under the terms, Pier 16 can request up HK$1.19 billion (US$153.5 million). According to the filing, the loan is\u00a0interest-free and has no fixed term of repayment.\u00a0\u00a0<\/p>\n\n\n\n

The July aid came from the group\u2019s own resources while further assistance could be financed by external borrowing.<\/p>\n\n\n\n

For the first half of 2020, Success Universe had reported net losses of US$17 million<\/a><\/em><\/strong>.  <\/p>\n","protected":false},"excerpt":{"rendered":"

The company lent Pier 16 over US$5m in July and in October the operator requested another US$2.5m.\u00a0<\/p>\n","protected":false},"author":2,"featured_media":10955,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Success Universe Group has extended an additional HK$58.8 million (US$7.58 million) interest-free loan to Pier 16 \u2013 Property Development, operator of Macau's Ponte 16 integrated resort, to mitigate the severe financial impact of the COVID-19 pandemic and travel restrictions. This financial aid, in line with a 2007 agreement, addresses significant gaming performance declines and shared losses, highlighting the ongoing capital requirements within the Macau concessionaire ecosystem.","focusai_entities":"Success Universe Group, Pier 16 \u2013 Property Development, Ponte 16, World Fortune, SJM-IL, Sociedade de Jogos de Macau","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Ponte 16 Recovery Outlook","query":"What is the projected timeline for Ponte 16's GGR recovery, considering the ongoing travel visa restrictions from Mainland China and the current capital injection?"},{"label":"Success Universe Capital Strategy","query":"How does this additional interest-free loan impact Success Universe Group's overall capital allocation strategy and its capacity for future strategic investments or M&A activities?"}],"footnotes":""},"categories":[16338,163],"tags":[23790,23789],"class_list":["post-10953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-ponte-16","tag-success-universe"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10953"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10953\/revisions"}],"predecessor-version":[{"id":10961,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10953\/revisions\/10961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10955"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}