• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 24 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Success Universe extends additional HK$60 million loan to Macau casino resort Ponte 16

Newsdesk by Newsdesk
Fri 16 Oct 2020 at 05:03
Success Universe profit soars 230% in 1H19 on higher Ponte 16 share

Ponte 16

19
SHARES
484
VIEWS
Print Friendly, PDF & Email

Hong Kong’s Success Universe Ltd says it will extend financial assistance by way of a HK$58.8 million (US$7.6 million) loan to its 49%-owned Pier 16 – Property Development, the operating entity of Macau integrated resort Ponte 16, to facilitate its ongoing operations.

The loan, which follows an earlier HK$39.2 million (US$5.1 million) provision paid out in July, forms part of agreements Success Universe signed in 2007 which outline certain obligations around shareholder loans, up to a maximum of HK$1.19 billion.

A similar amount is to be paid over time by SJM – Investment Limited, a subsidiary of Sociedade de Jogos de Macau, S.A. (SJM), which holds the other 51% stake in Pier 16 – Property Development.

According to a Thursday filing, the latest loan provision takes the outstanding balance of loans owed to Success Universe by Pier 16 – Property Development to HK$219 million (US$28.3 million), although the company can ask Success Universe for up to another HK$490 million (US$63.2 million) under the 2007 agreement.

It was not made clear whether SJM has also provided a loan for its share.

“The massive outbreak of COVID-19 in early 2020 has constituted an unprecedented challenge to the global economy,” Success Universe said.

“The outbreak was successfully under control with the swift actions having been taken by the Macau government. Nevertheless, entry restrictions, curtailment of transportation channels and quarantine requirements led to the fall of tourist arrivals over 80% in the first half of 2020.

“With the suspension of group and individual travel visas from the Mainland China, the pandemic is inevitably hitting Ponte 16’s gaming performance and the Group’s shared loss of the associates relating to Ponte 16 for the first half of 2020 was approximately HK$64 million.

“The Group believes that the travel and tourism industries in Macau will recover at a gradual pace as long as the pandemic is under control, and Ponte 16 will take full initiative to leverage opportunities brought up by the market rebound.

“As Pier 16 – Property Development is a 49% owned associate of the Group, the Directors consider that the provision of [financial assistance], which will facilitate the development and operation of Ponte 16, will be beneficial to the Group.”

Located on Macau’s Inner Harbour, Ponte 16 opened in 2008 at a total development cost of around HK$3.2 billion (US$413 million).

RelatedPosts

Macau’s DICJ oversees successful closure of Melco Resorts satellite Grand Dragon Casino

Macau’s DICJ oversees successful closure of Melco Resorts satellite Grand Dragon Casino

Wed 24 Sep 2025 at 05:37
LT Game confirms plan to appeal Macau court’s patent dispute judgement

LT Game confirms plan to appeal Macau court’s patent dispute judgement

Tue 23 Sep 2025 at 13:38
SJM Resorts announces “salary increment” for 99% of staff

Moody’s lowers outlook for Macau’s SJM Holdings to negative on elevated leverage, satellite casino uncertainty

Tue 23 Sep 2025 at 04:41
Macau updates super typhoon Ragasa policy with all casinos to close once No. 8 typhoon signal is hoisted

Macau updates super typhoon Ragasa policy with all casinos to close once No. 8 typhoon signal is hoisted

Tue 23 Sep 2025 at 04:32
Load More
Tags: casinoHong KongMacauPonte 16shareholders loanSJMSociedade de Jogos de MacauSuccess Universe
Share8Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Macau’s DICJ oversees successful closure of Melco Resorts satellite Grand Dragon Casino

Macau’s DICJ oversees successful closure of Melco Resorts satellite Grand Dragon Casino

by Newsdesk
Wed 24 Sep 2025 at 05:37

Macau’s Gaming Inspection and Coordination Bureau (DICJ) confirmed Tuesday that Grand Dragon Casino – the satellite casino operated under the license of Melco Resorts & Entertainment – had successfully completed its permanent closure. In a statement, the DICJ said it...

Paradise Co to pay US$151 million to acquire Grand Hyatt Incheon West Tower near Paradise City

Paradise Co to pay US$151 million to acquire Grand Hyatt Incheon West Tower near Paradise City

by Newsdesk
Wed 24 Sep 2025 at 05:15

Korea’s leading foreigner-only casino operator, Paradise Co, will pay KRW210 billion (US$151 million) to acquire the Grand Hyatt Incheon West Tower from KAL Hotel Network. Located just a few minutes by foot from the company’s Paradise City integrated resort, the...

568Win: Asia’s Top Platform Provider and Game Aggregator

568Win: Asia’s Top Platform Provider and Game Aggregator

by Newsdesk
Wed 24 Sep 2025 at 04:22

CLIENT PROMOTION 568Win is a verified and authorized partner of SBOBET, a trusted name in the iGaming industry with more than 20 years of hands-on experience. While SBOBET is widely recognized for its global Sportsbook, 568Win focuses on expanding the...

10 years ago – Tricky balance

Vietnam’s The Grand Ho Tram to welcome local players under expanded 5-year pilot program

by Ben Blaschke
Tue 23 Sep 2025 at 19:39

Vietnam integrated resort The Grand Ho Tram will be permitted to allow locals to gamble in its casino under a 5-year pilot program proposed by the country’s Ministry of Finance. According to information released by Vietnamese-language media and confirmed by...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English