• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 28 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

Ponte 16 woes send Success Universe to US$18 million loss in 2020

Ben Blaschke by Ben Blaschke
Wed 31 Mar 2021 at 06:32
Success Universe Chairman boosts company stake by 19.42%
17
SHARES
437
VIEWS
Print Friendly, PDF & Email

Macau casino investor Success Universe Ltd has reported a loss attributable to owners of the company of HK$141.9 million (US$18.3 million) in 2020, down from a profit of HK$74.2 million (US$9.5 million) recorded 12 months earlier, primarily due to its share of losses incurred at casino-resort Ponte 16.

According to the company’s results announcement released overnight, Success Universe and other associates of Pier 16 – Property Development, the operating entity of Ponte 16, shared losses of HK$145.7 million (US$18.7 million) in 2020 versus a shared profit of HK$116.8 million (US$15.0 million) in 2019.

Success Universe owns a 49% stake in Pier 16 – Property Development with the other 51% held by SJM – Investment Limited, a subsidiary of Sociedade de Jogos de Macau, S.A. (SJM).

Both companies also provided loans of HK$58.8 million (US$7.6 million) during 2020 to Ponte 16 to facilitate its ongoing operations, with Success Universe stating at the time the balance of loans owed to it by Pier 16 – Property Development now stands at HK$219 million (US$28.3 million).

Discussing Ponte 16’s challenges in 2020, Success Universe said, “The gaming and occupancy performance of Ponte 16 for 2020 were inevitably affected [by the COVID-19 pandemic].

“Due to the global travel [restrictions], the average occupancy rate of Sofitel Macau At Ponte 16 remained low for 2020 (2019: over 90%). An Adjusted EBITDA loss of approximately HK$242.9 million (US$31.2 million) was recorded for the year ended 31 December 2020, whereas the Adjusted EBITDA [profit] was HK$377.5 million (US$48.6 million) for the last corresponding year.”

Success Universe’s directly run business segments, Jade Travel Ltd and a property investment arm, also suffered losses in 2020. Jade Travel reported a loss of HK$11.2 million (US$1.4 million) on a 69% decline in revenue to HK$354.2 million (US$45.6 million), while the property business suffered a loss of HK$80.5 million (US$10.4 million).

RelatedPosts

IEC issues profit warning on widened losses through December 2021

IEC falls to US$36 million loss in FY25 but 200% increase in gaming revenues suggests bright future for Manila IR project

Sat 27 Sep 2025 at 11:56
MGM China to remodel its Macau integrated resorts to add more MICE and arts space

MGM China issues warning over deepfake video of Chairperson and Executive Director Pansy Ho

Fri 26 Sep 2025 at 04:28
Melco volunteers assist Macau community affected by Super Typhoon Ragasa

Melco volunteers assist Macau community affected by Super Typhoon Ragasa

Fri 26 Sep 2025 at 04:27
Days after satellite casino Grand Dragon ceases operations, Melco completes closure of first Mocha slot club Kuong Fat

Days after satellite casino Grand Dragon ceases operations, Melco completes closure of first Mocha slot club Kuong Fat

Thu 25 Sep 2025 at 16:24
Load More
Tags: casinoJade TravelMacauPonte 16Sofitel at Ponte 16Success Universe
Share7Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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

IEC issues profit warning on widened losses through December 2021

IEC falls to US$36 million loss in FY25 but 200% increase in gaming revenues suggests bright future for Manila IR project

by Ben Blaschke
Sat 27 Sep 2025 at 11:56

Hong Kong-listed International Entertainment Corp (IEC) said it remains confident in the long-term prospects of its Manila hotel and casino project after booking a 200% year-on-year increase in gaming revenue in the 12 months to 30 June 2025. While increased...

1xBet celebrates role as industry flagship at SBC Summit 2025

1xBet celebrates role as industry flagship at SBC Summit 2025

by Newsdesk
Sat 27 Sep 2025 at 11:32

Global sports betting brand 1xBet has celebrated its participation in this year’s SBC Summit, noting that its standing as Premium Sponsor highlighted the company’s role in industry growth and the significance of the European region for the brand. 1xBet said...

Football the focus as Vietnam revises sports betting decree

Vietnam considering revised US$380 daily betting cap on international football

by Newsdesk
Sat 27 Sep 2025 at 09:06

Vietnam’s Ministry of Finance wants to update the maximum amount individuals can bet on international football matches per day, with the current VND1 million (US$38) allowed per category to be replaced by a daily limit of VND10 million (US$380), according...

FBM to unveil multiple slot title premieres at G2E in Las Vegas

FBM to unveil multiple slot title premieres at G2E in Las Vegas

by Newsdesk
Sat 27 Sep 2025 at 08:45

Industry supplier FBM has outlined the product range it will showcase at the upcoming Global Gaming Expo (G2E) in Las Vegas, headed by new slot titles “Lanterns of Fu” and Hippo’s Lock”. Located in Booth 2848, FBM said it would...

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