{"id":21702,"date":"2021-08-18T13:39:43","date_gmt":"2021-08-18T16:39:43","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21702"},"modified":"2026-04-23T16:32:13","modified_gmt":"2026-04-23T19:32:13","slug":"success-universe-expects-drop-in-consolidated-loss-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-universe-expects-drop-in-consolidated-loss-for-h1","title":{"rendered":"Success Universe expects drop in consolidated loss for H1"},"content":{"rendered":"\n

Success Universe Group has announced it expects a consolidated loss for the first half of the year at least 50 per cent lower than the loss reported in the first half of 2020.<\/p>\n\n\n\n\n\n\n\n

Macau.- Macau casino investor\u00a0Success Universe Group Limited<\/strong>\u00a0has reported it expects\u00a0a drop in consolidated loss<\/strong>\u00a0for the first half of 2021 of between 50 to 70 per cent when compared to the first half of 2020.<\/p>\n\n\n\n

Success Universe<\/a>\u00a0reported\u00a0HK$132.2m (US$17m) in net losses\u00a0<\/strong>in the first half of last year. At the time, the company said it was also heavily hit by the suspension of group and individual travel visas from mainland China as a result of the Covid-19 pandemic.<\/p>\n\n\n\n

The group expects a loss of no more than HKD66.2m for the first six months of this year\u00a0<\/strong>due to the decrease in the Group\u2019s share of losses relating to Ponte 16.<\/p>\n\n\n\n

In June,\u00a0Success Universe<\/a>\u00a0reported that it had been providing\u00a0financial assistance to Pier 16<\/strong>\u00a0Property Development\u00a0<\/strong>for the development of Ponte 16 to guarantee\u00a049 per cent of its payment obligations<\/strong>\u00a0regarding existing facilities.<\/p>\n\n\n\n

According to the company, Ponte 16 carried out a series of cost containment measures to alleviate the financial pressure brought by the Covid-19 pandemic<\/strong>. It had been streamlining operational efficiency with flexible manpower arrangements.<\/p>\n\n\n\n

In May,\u00a0Success Universe<\/a>\u00a0also revealed that it had\u00a0acquired approximately 23.4 units of Bitcoin<\/strong>. The purchase was made as an investment at\u00a0a cost of (HK$10.1m) US$1.3m<\/strong>. The casino operator said the\u00a0investment would diversify the Group\u2019s investment portfolio\u00a0<\/strong>and enhance its asset value.<\/p>\n\n\n\n

The company said in a press release: \u201cAlthough the cryptocurrency market is volatile in the near-term and the\u00a0prices of cryptocurrencies may be subject to fluctuations<\/strong>, the Board believes that there is still room for cryptocurrencies in general.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Success Universe Group has announced it expects a consolidated loss for the first half of the year at least 50 per cent lower than the loss reported in the first half of 2020.<\/p>\n","protected":false},"author":176,"featured_media":17809,"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 anticipates a consolidated loss for H1 2021 that is at least 50% lower than H1 2020, primarily driven by reduced losses from its Ponte 16 casino resort in Macau, which implemented significant cost containment measures. Concurrently, the group diversified its investment portfolio by acquiring Bitcoin, signaling a strategic move into digital assets despite inherent market volatility.","focusai_entities":"Success Universe Group, Ponte 16, Pier 16 Property Development","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Ponte 16 Cost Savings?","query":"What specific cost containment measures and operational efficiency improvements at Ponte 16 contributed most significantly to the reduction in Success Universe Group's H1 2021 losses?"},{"label":"Bitcoin Investment Strategy?","query":"What is the long-term strategic rationale behind Success Universe Group's Bitcoin acquisition, and how does it align with their overall capital allocation and risk management framework given market volatility?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,23790,23789],"class_list":["post-21702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-ponte-16","tag-success-universe"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21702","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=21702"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21702\/revisions"}],"predecessor-version":[{"id":21726,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21702\/revisions\/21726"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17809"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}