Ponte 16 casino closure causes major loss for Success Universe’s earnings
Success Universe Group anticipates a significant loss for 2025 due to the closure of its Ponte 16 casino in Macau.Summary
Success Universe Group Limited is projecting a substantial loss between HKD370 million and HKD410 million for the year ending December 31, 2025, a dramatic shift from the HKD93 million profit reported the previous year. This downturn is primarily attributed to the closure of its satellite casino at Ponte 16 in Macau and a subsequent markdown on related investments. The firm also experienced a decline in unrealized gains from overseas stock holdings. Ponte 16 is co-owned by SJM Holdings (51%) and Success Universe (49%), and while SJM successfully absorbed L’Arc Hotel & Casino, the deal for Ponte 16 fell through, leaving shareholders concerned about the property’s future without gaming operations. The reported figures are preliminary and subject to revision in the finalized financial report expected later this month.
(Source：Macau Daily Times)