Hong Kong-listed Success Universe has issued a profit warning on an expected widening of its 1H26 when compared to the same period last year, primarily due to the cessation of casino operations at its Ponte 16 resort in Macau.
Just days after fellow former satellite casino operator Paradise Entertainment Ltd, which shuttered Kam Pek Paradise on the Macau peninsula late last year, issued a similar warning, Success Universe said it expects to record an increase of around 50% to 70% in its unaudited consolidated loss for the six months to 30 June 2026 when compared with the HK$34 million loss reported in 1H25.
“Notwithstanding a decrease in fair value loss on the Group’s overseas listed equity securities, the increase in the Group’s unaudited consolidated loss for the six months ended 30 June 2026 was mainly attributable to the Group’s share of a loss of the associates relating to Ponte 16, the flagship investment project of the Group,” the company explained.
This, Success Universe added, was “a consequence of the cessation of the operation of Casino Ponte 16 on 29 November 2025, while the Group shared a profit of the Associates of approximately HK$49 million for the last corresponding period.”
Success Universe holds a 49% stake in Ponte 16’s operating entity Pier 16 – Property Development, with the remaining 51% owned by concessionaire SJM Holdings. Earlier this year the company insisted it remains dedicated to its investment in Ponte 16, despite the forced closure of the property’s satellite casino as per government regulations late last year.
However, multiple satellite casino management companies have fallen to loss in the months since those casinos closed, with Paradise warning of a HK$82.6 million (US$10.5 million) loss in 1H26 and Emperor E Hotel, which runs Grand Emperor on the Macau peninsula, reporting a near 40% decline in revenue for the year ended 31 March 2026.
