A surge from its share in Macau Inner Harbour casino Ponte 16 has pushed Success Universe into profit in the six months to 30 June 2018.
The company on Friday announced a profit of HK$14.2 million for the half – a considerable improvement on a loss of HK$23.3 million recorded in the same period in 2017. Shared profit accrued directly from Ponte 16 amounted to HK$23 million, representing a 222% year-on-year increase on 1H17’s HK$7.2 million.
Group-wide revenue for the period climbed 75% to HK$478.5 million, although the cost of sales increased by a similar amount, the company revealed.
Adjusted EBITDA at Ponte 16 grew 26% to HK$171.8 million, up from HK$136.3 million. The resort, located alongside Macau’s Inner Harbour, currently boasts 109 gaming tables including 96 mass tables, seven high limit tables and six VIP tables.
Notably, the improved results come just 12 months after the property was battered by Typhoon Hato, which struck Macau on 23 August 2017 causing extensive damage to the Inner Harbour area and flooding Ponte 16’s main gaming floor.
Success Universe said it will look to continue growing revenue at Ponte 16 by highlighting its unique location.
“Ponte 16 is devoted to promote the historical and cultural heritage of Macau whilst offering preeminent accommodation experience with distinctive cultural connotation,” the company said. “Ponte 16 will uphold its leading position as casino-entertainment resort located in the exclusive Inner Harbour of Macau.”
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