Hong Kong-listed gaming investor Success Universe has issued a positive profit alert for the six months to 30 June 2023, revealing it expects to record a profit of between HK$130 million and HK$170 million – reversing a HK$125.5 million loss in 1H22.
In a Wednesday filing, Success Universe said the improved results were in part due to the company sharing a profit of the associates relating to its Macau integrated resort Ponte 16 compared with a HK$9.6 million loss a year earlier.
It also recorded a substantial fair value gain on the group’s overseas listed equity securities versus a fair value loss of HK$97.0 million a year earlier.
Success Universe owns a 49% stake in Ponte 16 operator Pier 16 – Property Development, with the other 51% held by Macau concessionaire SJM.
Ponte 16’s facilities include Sofitel at Ponte 16, more than half a dozen cafés and restaurants, a play center, spa and a casino with 109 gaming tables.
Success Universe said it would release its finalized interim results for 1H23 in late August.