Hong Kong-listed gaming and hospitality investor Success Universe has reported a 36.1% increase in profit attributable to owners of the company to HK$74.2 million for the year ended 31 December 2019, mainly due to higher shared profit from its interest in Macau integrated resort Ponte 16.
While Success Universe didn’t provide full details of Ponte 16’s financial performance it noted that Macau-wide GGR contracted 3.4% in 2019, meaning the property’s revenue growth outperformed the market.
“As at 31 December 2019, the casino of Ponte 16 had 109 gaming tables, consisting of 98 mass gaming tables, 7 high-limit tables and 4 VIP tables, maintaining a competitive mix for the current market trend of Macau,” the company said. Adjusted EBITDA increased by 6% to HK$377.5 million.
Success Universe itself reported a 2% decline in revenue in 2019 to HK$1.15 billion from its reportable segments, comprising travel business Jade Travel Ltd and its property investment business.
Revenue of Jade Travel grew 4% year-on-year to HK$1.13 billion in 2019, with a loss of HK$3.9 million compared with a profit of HK$2 million in the prior year period. The property investment business saw revenue fall 38% to HK$18.8 million with profit falling 71% to HK$11 million.
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