Macau’s Ponte 16 anticipates reporting unaudited consolidated profit of $20.5 million for 2023

The Ponte 16 hotel-casino in Macau is owned by Success Universe Group, which projects an unaudited consolidated profit in 2023 of between HK$160 million ($20.5 million) and HK$190 million ($24.3 million).

According to the statement with the Hong Kong Stock Exchange, this prediction is in comparison with an audited consolidated loss of approximately HK$287.1 million ($36.7 million) in FY22.

This significant turnaround is the result of the company’s main investment project, Ponte 16, which turned a profit last year after suffering a loss of HK$42.1 million ($5.4 million) in the previous quarter.

With Macau’s reopening in January 2023, Success Universe’s improved financial performance became evident, and the company reported a return to profitability in the first half of 2023.

Original story by: Asia Gaming Brief