{"id":22160,"date":"2021-08-31T11:06:36","date_gmt":"2021-08-31T14:06:36","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22160"},"modified":"2026-04-23T16:09:12","modified_gmt":"2026-04-23T19:09:12","slug":"success-universe-posts-net-loss-of-us6-7m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-universe-posts-net-loss-of-us6-7m-for-h1","title":{"rendered":"Success Universe posts net loss of US$6.7m for H1"},"content":{"rendered":"\n

Success Universe Group has reported a net loss of HK$52.7m (US$6.7m) for the first half of the year, down 60.1 per cent from H1 2020.<\/p>\n\n\n\n\n\n\n\n

Macau.- Macau casino investor\u00a0<\/strong>Success Universe Group Limited<\/a>\u00a0has shared its financial results for the first half of the year, reporting a net loss of HK$52.7m (US$6.7m), down 60.1 per cent from HK$137m reported for the first half of the previous year<\/a>.<\/p>\n\n\n\n

The company’s revenue was HK$35.4m<\/strong>, down 89 per cent year-on-year from HK$333.9m. <\/p>\n\n\n\n

Success Universe attributed the losses to\u00a0a reduction in the loss from the Ponte 16 complex<\/strong>, which reported a shared loss of HK$30.3m for the first six months of the year, compared with a loss of HK$64m in H1 2020.<\/p>\n\n\n\n

The venue recorded\u00a0negative adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA)<\/strong>\u00a0of HK$41.4m, compared with a negative figure of HK$93.3 for the last corresponding period.<\/p>\n\n\n\n

In June, Success Universe<\/a> reported that it had been providing financial assistance to Pier 16<\/strong> Property Development <\/strong>for the development of Ponte 16 to guarantee 49 per cent of its payment obligations<\/strong> regarding 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

Success Universe said: “Supported by market recovery, the gaming and occupancy performance of\u00a0Ponte 16 saw improvements during the reporting period<\/strong>.<\/p>\n\n\n\n

“Most notably, the business performance of Ponte 16 recovered to almost half of pre-pandemic levels and the average occupancy rate of Sofitel Macau At Ponte 16 reached over 90 per cent during the Labour Day Golden Week.”<\/p>\n\n\n\n

Success Universe acquires 23.4 units of Bitcoin<\/h2>\n\n\n\n

In May, Success Universe<\/a> revealed that it had acquired approximately 23.4 units of Bitcoin<\/strong>. The purchase was made as an investment at a cost of (HK$10.1m) US$1.3m<\/strong>. <\/p>\n\n\n\n

Success Universe 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\n\n\n

The company said the investment would diversify the Group\u2019s investment portfolio <\/strong>and enhance its asset value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Success Universe Group has reported a net loss of HK$52.7m (US$6.7m) for the first half of the year, down 60.1 per cent from H1 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 reported a net loss of HK$52.7m for H1, a 60.1% improvement year-on-year, despite an 89% revenue decline, primarily due to reduced losses from its Ponte 16 complex in Macau. The company also diversified its investment portfolio by acquiring 23.4 units of Bitcoin for HK$10.1m, citing long-term potential despite short-term volatility.","focusai_entities":"Success Universe Group, Pier 16 Property Development, Ponte 16, Sofitel Macau At Ponte 16, Bitcoin","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.85), supplier_vendor (0.75), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Recovery Outlook","query":"What are the projected GGR and NGR recovery timelines for the Macau market, specifically for integrated resorts like Ponte 16, given the reported H1 operational improvements?"},{"label":"Digital Asset Strategy","query":"How does Success Universe Group's Bitcoin acquisition align with its long-term capital allocation strategy, and what governance frameworks are in place to manage the associated volatility and regulatory risks?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,23789],"class_list":["post-22160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-success-universe"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22160","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=22160"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22160\/revisions"}],"predecessor-version":[{"id":22182,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22160\/revisions\/22182"}],"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=22160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}