{"id":777006578,"date":"2023-06-23T10:12:34","date_gmt":"2023-06-23T13:12:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777006578"},"modified":"2026-04-22T20:41:58","modified_gmt":"2026-04-22T23:41:58","slug":"success-universe-to-refinance-ponte-16-loans","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-universe-to-refinance-ponte-16-loans","title":{"rendered":"Success Universe to refinance Ponte 16 loans"},"content":{"rendered":"\n

Success Universe Group aims to refinance up to HK$490m (US$62.6m) in loans.<\/p>\n\n\n\n\n\n\n\n

Macau.- Success Universe Group<\/strong> has reported plans to refinance loans granted to Macau’s Ponte 16 casino<\/strong>. The company aims to secure up to HK$490m (US$62.6m) in refinancing, reflecting potential financial restructuring and optimisation strategies.<\/p>\n\n\n\n

According to a filing, Success Universe Group intends to enter into a revised facility agreement with Pier 16 \u2013 Property Development Ltd.<\/strong>, a company jointly held by World Fortune and SJM-IL, a wholly-owned subsidiary of SJM. The revised facilities are anticipated to amount to HK$230m (US$29.4m) and MOP273m (US$33.8m), for which Success Universe will execute security documents.<\/p>\n\n\n\n

The MOP273m (US$33.86m) facility is designated to finance the payment of the Land Premium and the associated costs related to the Land Concession Modification. Additionally, HK$30m (US$3.83m) will be allocated as general working capital for the non-gaming operations of Pier 16.<\/p>\n\n\n\n

Success Universe Group has been engaged in discussions with the government regarding its future development projects, including plans for a floating casino<\/a>. The deputy chairman of the company, Hoffman Ma<\/strong>, expressed optimism and estimated that the upcoming expansion initiatives would require an investment of over HK$100m (US$12.8m). <\/p>\n\n\n\n

At the annual general meeting, Hoffman Ma Ho Man, highlighted signs of recovery in Macau\u2019s tourism industry as the group\u2019s hotel occupancy rate and room prices reached 80 per cent and 85 per cent of 2019 levels.<\/p>\n\n\n\n

Ma predicted a quarter-on-quarter increase in Macau\u2019s gaming revenue and anticipated that annual gaming revenue for 2023 will surpass MOP150bn. Success Universe Group\u2019s revenue for 2022 was down 24.1 per cent<\/strong> year-on-year<\/a> to HK$114.8m, and the company posted a loss attributable to owners of HK$287.1m, down from a HK$4.9m profit in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

Success Universe Group aims to refinance up to HK$490m (US$62.6m) in loans.<\/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 plans to refinance up to HK$490m (US$62.6m) in loans for its Macau-based Ponte 16 casino, involving a revised facility agreement with Pier 16 \u2013 Property Development Ltd. The refinancing will fund Land Premium payments, associated concession costs, and general working capital for non-gaming operations, alongside future expansion initiatives including a floating casino.","focusai_entities":"Success Universe Group, Ponte 16 casino, Pier 16 \u2013 Property Development Ltd., World Fortune, SJM-IL, SJM, Hoffman Ma, Hoffman Ma Ho Man","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Refinancing Impact on Debt?","query":"What is the projected impact of this HK$490m refinancing on Success Universe Group's overall debt structure and leverage ratios, particularly in the context of its 2022 financial performance?"},{"label":"Floating Casino Regulatory Hurdles?","query":"What specific regulatory and licensing hurdles must Success Universe Group navigate for the proposed floating casino development in Macau, and what is the anticipated timeline for approvals?"}],"footnotes":""},"categories":[157,16338],"tags":[23790,23789],"class_list":["post-777006578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-ponte-16","tag-success-universe"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006578","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=777006578"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006578\/revisions"}],"predecessor-version":[{"id":777006609,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006578\/revisions\/777006609"}],"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=777006578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}