Macau casino investor Success Universe reported a 232% increase in profit attributable to owners of the company in the first six months of 2019 thanks to a higher share of profit of the associates relating to Macau integrated resort Ponte 16.
The group’s profit of HK$48.7 million for the period compared with profit of HK$14.7 million in 1H18, with the HK$56.6 million contributed by Ponte 16 more than enough to offset losses in other reportable segments.
Located on the waterfront of Macau’s inner harbor, Ponte 16 is operated by Success Universe under license from SJM and offers 109 gaming tables, including 98 mass gaming tables, seven high-limit tables and four VIP tables. While the company didn’t provide a comprehensive breakdown of Ponte 16’s gaming results, it noted that GGR grew 6% for the period, outperforming Macau-wide GGR.
Adjusted EBITDA for the reporting period increased by around 20% to HK$206.1 million while Sofitel Macau At Ponte 16 maintained occupancy of around 90% for the first half of 2019.
Success Universe also maintains a property investment portfolio in Hong Kong and runs a travel agency out of Canada, Jade Travel.
RelatedPosts
