{"id":777003416,"date":"2023-03-17T13:05:22","date_gmt":"2023-03-17T16:05:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777003416"},"modified":"2026-04-22T23:40:41","modified_gmt":"2026-04-23T02:40:41","slug":"success-universe-issues-profit-warning","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-universe-issues-profit-warning","title":{"rendered":"Success Universe issues profit warning"},"content":{"rendered":"\n<p>The company expects to record a loss of between HK$260m and HK$300m for 2022.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- <strong>Success Universe<\/strong>, an investor in the Macau Ponte 16 casino, has issued a profit warning. It expects to record a loss of between HK$260m (US$33.13m) and HK$300m (US$38.2m) for 2022. The sharp reversal from the HK$4.9m profit recorded in 2021 and is mainly due to a loss in overseas-listed equity securities and investment properties.<\/p>\n\n\n\n<p>The figure is based on a preliminary assessment. The company\u2019s yearly results will be published later this month.&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/success-universe-reported-a-net-loss-of-us16m-for-h1\" target=\"_blank\">Success Universe<\/a>&nbsp;reported a HK$125.5m (US$16m) loss in the first half of the year 2022, mainly due to low average occupancy rates at Ponte 16.&nbsp;<\/p>\n\n\n\n<p>Group-wide revenue was just above HK$54.5m (US$6.94m), up 54.1 per cent from H1 2021. For&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/success-universe-posts-hk4-9m-profit-for-2021\" target=\"_blank\">Ponte 16<\/a>, the company posted negative adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HK$1m (US$127,400). The shared loss of associates decreased by 68.3 per cent to HK$9.6m.<\/p>\n\n\n\n<p>The operator could see a turnaround this year as Ponte 16 was one of the properties licensed to operate a casino under new gaming concessions.&nbsp;SJM owns 51 per cent of the Ponte 16 development, while Success Universe holds the remaining 49 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company expects to record a loss of between HK$260m and HK$300m for 2022.<\/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, an investor in Macau's Ponte 16 casino, has issued a profit warning, projecting a loss of HK$260m-HK$300m for 2022, a significant reversal from 2021's profit. This is primarily attributed to losses in overseas-listed equity securities and investment properties, alongside low occupancy rates at Ponte 16. Despite the current losses, the company anticipates a potential turnaround in 2023 due to Ponte 16 securing a new gaming concession.","focusai_entities":"Success Universe, Ponte 16, SJM","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession impact on GGR?","query":"How is the new gaming concession expected to influence Ponte 16's Gross Gaming Revenue (GGR) and Net Gaming Revenue (NGR) in 2023, particularly concerning VIP and mass market segments?"},{"label":"Investment portfolio strategy?","query":"What specific changes are anticipated in Success Universe's investment portfolio strategy to mitigate future non-gaming asset losses, given the significant impact on 2022's financial performance?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,23790],"class_list":["post-777003416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-ponte-16"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003416","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=777003416"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003416\/revisions"}],"predecessor-version":[{"id":777003446,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003416\/revisions\/777003446"}],"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=777003416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}