Success Universe predicts net losses as high as HK$150 million (US$19.3 million) for the first half of the year.<\/p>\n\n\n\n\n\n\n\n
Macau.- Success Universe Group, an investor in the Ponte 16 venue in Macau, has revealed it expects to report net losses of between HK$120 million (US$15.4 million) and HK$150 million (US$19.3 million) for the first half of the year.<\/p>\n\n\n\n
In the same period last year, the group had recorded consolidated profit of HK$48.7 million (US$6.2 million).<\/p>\n\n\n\n
The company attributed the decline to the group\u2019s share of a \u201csubstantial loss\u201d relating to the Ponte 16 complex as a result of the outbreak of Covid-19, according to a filing sent to the Hong Kong Stock Exchange.<\/p>\n\n\n\n
Success Universe is a partner in venue in Macau\u2019s Inner Harbour district with a unit of casino concessionaire SJM Holdings. <\/p>\n","protected":false},"excerpt":{"rendered":"
Success Universe predicts net losses as high as HK$150 million (US$19.3 million) for the first half of the year.<\/p>\n","protected":false},"author":2,"featured_media":8899,"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 anticipates significant net losses for H1, ranging from HK$120M to HK$150M, a stark reversal from the prior year's consolidated profit. This decline is primarily attributed to the substantial operational impact of the Covid-19 pandemic on its investment in the Ponte 16 integrated resort in Macau. The financial disclosure was made via a filing to the Hong Kong Stock Exchange.","focusai_entities":"Success Universe Group, Ponte 16, SJM Holdings, Hong Kong Stock Exchange","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Ponte 16 Recovery Timeline?","query":"What is the projected timeline for Ponte 16's operational recovery and return to profitability, considering Macau's evolving tourism landscape and GGR trends?"},{"label":"Capital Allocation Impact?","query":"How will this H1 loss impact Success Universe Group's capital allocation strategy and potential future investment in gaming or non-gaming verticals within its portfolio?"}],"footnotes":""},"categories":[160,16338,163],"tags":[257],"class_list":["post-8881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8881","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8881"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8881\/revisions"}],"predecessor-version":[{"id":8900,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8881\/revisions\/8900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8899"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}