A HK$340.7 million (US$43.5 million) impairment loss on its interest in former Macau satellite casino Ponte 16, as well as a share of loss from associates also linked to the property, have driven Hong Kong-listed Success Universe Group Limited to a group-wide loss of HK$$410.4 million (US$52.4 million) in 2025, reversing the HK$93.4 million (US$11.9 million) profit reported a year earlier.
The casino at Ponte 16 closed its doors on 29 November 2025 after failing to reach an agreement with SJM Resorts S.A. for full acquisition of the property. SJM had earlier touted Ponte 16 and L’Arc Casino on the Macau peninsula as potential targets before the government’s 31 December 2025 deadline for the closure of satellites but in the end only reached an agreement to acquire L’Arc.
Publishing its FY25 results on Monday, Success Universe – which holds a 49% stake in Ponte 16 – said it had recognized a HK$340.7 million (US$43.5 million) impairment loss on interests in associates as a result of the casino’s closure, representing 83% of group-wide loss for the year.
It also shared a loss of the associates relating to Ponte 16 of HK$3.8 million (US$485,000) in 2025 due to write-off of a substantial amount of the assets of the associates, having shared a profit of HK$112.0 million (US$14.3 million) in 2024.
The substantial loss came despite Success Universe reporting a 16% year-on-year increase in revenue to HK$59.7 million (US$7.6 million). The company’s other business arms include travel-related services via Jade Travel, property investment in Hong Kong and financial investments in companies including Tesla.
On its Ponte 16 investment, Success Universe said, “While the Group anticipates a significant adverse effect in its share of results from the associates following the cessation of Casino Ponte 16’s operation, the Group remains committed to its investment in the Ponte 16 project.
“Ponte 16’s strategic focus will shift towards maximizing the value of non-gaming assets while continuing to explore new hospitality and leisure-entertainment opportunities to drive sustainable long-term value.”
