{"id":777018282,"date":"2024-08-20T09:56:43","date_gmt":"2024-08-20T12:56:43","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777018282"},"modified":"2026-04-22T06:59:56","modified_gmt":"2026-04-22T09:59:56","slug":"success-universe-expects-loss-of-up-to-us6-4m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-universe-expects-loss-of-up-to-us6-4m-for-h1","title":{"rendered":"Success Universe expects loss of up to US$6.4m for H1"},"content":{"rendered":"\n

Full results will be published later this month.<\/p>\n\n\n\n\n\n\n\n

Macau.- The casino investor Success Universe Group Limited, which operates Macau\u2019s Ponte 16 casino, has announced that it expects to post an unaudited consolidated loss of between HK$30m (US$3.9m) and HK$50m (US$6.4m) for the first half of the year. That compares with an unaudited consolidated profit<\/a> of HK$153.8m (US$19.7m) for the corresponding period last year.<\/p>\n\n\n\n

The company mainly attributed the loss to a fair value loss on its overseas-listed equity securities and a decrease in the value of investment properties in contrast to a gain for the same period last year. It also cited a write-down of the carrying amounts of the group’s properties and leasehold land and buildings. Final results for the six months to June 30 will be published in late August.<\/p>\n\n\n\n

In 2023, the company posted a net profit of HK$169.3m (US$21.6m). Revenue was down 11 per cent in year-on-year terms<\/a> to approximately HK$101.9m while gross profit increased by 35 per cent to about HK$16.8m.<\/p>\n\n\n\n

From the\u00a0casino hotel Ponte 16<\/a>, the company posted adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HK$334.1m (US$42.7m). The company\u2019s shared profit of the associates amounted to HK$143.7m (US$18.4m). As of December 31, the casino at Ponte 16 had 109 gaming tables in operation: 103 mass tables and 6 high-limit tables. The average occupancy rate of Sofitel Macau At Ponte 16 reached approximately 83 per cent in 2023.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Full results will be published later this month.<\/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 anticipates an unaudited consolidated loss of HK$30m-HK$50m for the first half of the year, a significant reversal from the prior year's profit. This projected loss is primarily attributed to fair value losses on overseas-listed equity securities, a decrease in investment property values, and asset write-downs, rather than core gaming operations. Despite these non-operational headwinds, the company's Macau casino, Ponte 16, reported robust adjusted EBITDA of HK$334.1m in 2023, indicating operational resilience within its gaming vertical.","focusai_entities":"Success Universe Group Limited, Ponte 16, Sofitel Macau At Ponte 16","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Non-Core Asset Strategy?","query":"What specific overseas equity securities and investment properties contributed to the fair value losses, and what is the group's strategy to mitigate future volatility in these non-core assets?"},{"label":"Leveraging Gaming Performance?","query":"Given the strong adjusted EBITDA from Ponte 16 in 2023, how does the group plan to leverage its core gaming vertical's performance to offset non-operational financial headwinds in H1?"}],"footnotes":""},"categories":[16338,163],"tags":[23790,24463],"class_list":["post-777018282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-ponte-16","tag-success-universe-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018282","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=777018282"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018282\/revisions"}],"predecessor-version":[{"id":777018308,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018282\/revisions\/777018308"}],"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=777018282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}