Hong Kong-listed Success Universe Group Limited, the joint venture partner of SJM Resorts in Macau satellite casino Ponte 16, has issued a profit warning on expected loss of between $370 million and HK$410 million (US$47 million and US$52 million) for the year ended 31 December 2025, reversing the HK$93 million (US$12 million) profit reported a year earlier.
The expected loss is due to the recent closure of the satellite casino at Ponte 16 and impairments recognized as a result.
In a filing, Success Universe said, “As a consequence of the cessation of the operation of Casino Ponte 16, the Group recognized a significant impairment loss of the carrying amount of its interests in the associates relating to Ponte 16, the flagship investment project of the Group.”
It also cited a “share of loss of the Associates for the year ended 31 December 2025 due to write-off of a substantial amount of the assets of the Associates, while the Group shared a profit of the Associates of approximately HK$112 million (US$14 million) for the last corresponding year.”
Success Universe holds a 49% stake in Ponte 16 owner Pier 16 – Property Development, with the remaining 51% owned by SJM Holdings. The company had only last year agreed a new Financial Assistance package that took its total exposure in relation to the Macau property to HK$839 million (US$107 million).
Success Universe said it expects its full results for 2025 to be published in late March 2026.
