{"id":33091,"date":"2022-08-31T02:23:46","date_gmt":"2022-08-31T05:23:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=33091"},"modified":"2026-04-23T05:22:47","modified_gmt":"2026-04-23T08:22:47","slug":"success-universe-reported-a-net-loss-of-us16m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-universe-reported-a-net-loss-of-us16m-for-h1","title":{"rendered":"Success Universe reported a net loss of US$16m for H1"},"content":{"rendered":"\n

The company attributed the increase in the unaudited consolidated loss to a substantial increase in the unrealised fair value loss on the group\u2019s overseas-listed equity securities.<\/p>\n\n\n\n\n\n\n\n

Macau.- The casino investor\u00a0<\/strong>Success Universe Group Limited\u00a0has shared its financial results for the first half of the year. It’s reported a loss attributable to owners of the company increased by approximately 1.4 times to approximately HK$125.5m (US$16m).<\/p>\n\n\n\n

Group-wide revenue for the period was just above HK$54.5m, up 54.1 per cent from the prior-year period. Gross profit was up 24 per cent to HK$5.3m.<\/p>\n\n\n\n

The company said: “The increase in the unaudited consolidated loss of the Group for the six months ended 30 June 2022 was mainly attributable to a substantial increase in the unrealised fair value loss on the Group\u2019s overseas-listed equity securities, notwithstanding the decrease in the Group\u2019s share of loss of the Associates.”<\/p>\n\n\n\n

For the casino hotel Ponte 16<\/a>, the company posted the property recorded negative adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HK$1.0m (US$127,400) for the first half of the year. The shared loss of the associates relating to Ponte 16 decreased by 68.3 per cent to approximately HK$9.6m.<\/p>\n\n\n\n

Success Universe also revealed it has provided shareholder loans of HK$19.6m and HK$9.8m in July and August 2022 respectively in proportion to the group\u2019s 49 per cent shareholding in the project for the purpose of financing its operating cost.<\/p>\n\n\n\n

As of 30 June 2022, the casino of Ponte 16 had 109 gaming tables<\/strong>, consisting of 101 mass tables and 8 high-limit tables.<\/p>\n\n\n\n

The company said: “The global business environment is expected to remain volatile due to such external factors as the prevailing Omicron variant, rising global inflation and intensifying geopolitical tensions.\u00a0<\/p>\n\n\n\n

“The Group will prioritise the maintenance of corporate agility and resilience, enhance its product and service offerings while adhering to financial prudence to navigate through challenges and capture opportunities.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The company attributed the increase in the unaudited consolidated loss to a substantial increase in the unrealised fair value loss on the group\u2019s overseas-listed equity securities.<\/p>\n","protected":false},"author":176,"featured_media":19265,"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 Limited reported a significant increase in its H1 2022 consolidated loss, primarily due to unrealised fair value losses on overseas-listed equity securities, despite a 54.1% revenue growth. The Macau-based Ponte 16 casino recorded negative adjusted EBITDA, necessitating shareholder loans for operational financing. The Group anticipates continued market volatility and plans to prioritize agility and financial prudence.","focusai_entities":"Success Universe Group Limited, Ponte 16","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Investment Losses?","query":"What specific overseas-listed equity securities contributed most significantly to the unrealised fair value loss, and what is the Group's strategy to mitigate future investment portfolio volatility?"},{"label":"Ponte 16 Operational Outlook?","query":"Given the negative adjusted EBITDA for Ponte 16, what are the Group's revised projections for the property's profitability, and what operational efficiencies or market recovery strategies are being implemented?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,23789],"class_list":["post-33091","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\/33091","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=33091"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33091\/revisions"}],"predecessor-version":[{"id":33123,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33091\/revisions\/33123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19265"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}