The Chairman and majority shareholder of Macau casino operator Success Universe, Sonny Yeung, has increased his stake in the company from 52.10% to more than 70% after acquiring the entire shareholding of Japanese pachinko giant Maruhan Co Ltd.
Success Universe owns and operates Macau peninsula integrated resort Ponte 16.
In a filing to the Hong Kong Stock Exchange, Success Universe revealed that Yeung has acquired 956,633,525 shares, equal to 19.42% in the entire issued share capital in the company, from Maruhan for HK$210.5 million (US$26.8 million), equivalent to HK$0.22 per share. The shares were acquired via Yeung’s wholly-owned company Silver Rich Macau Development Ltd.
As a result, his stake in the company rises from 52.10% to 71.52%, comprising a total of 3,523,190,987 shares. Maruhan no longer holds any shares in Success Universe.