Thurgess Universe Group, an investor at Macau Casino Hotel Ponte 16 (file photo), said it expects to post losses of HK$30 million ($3.9 million) to HK$50 million ($3.9 million) in the first half of this year due to fair value losses in overseas listed shares and investment properties.
The company posted a profit of HK$153.8 million in the first half of last year. It posted a net profit of HK$169.3 million for the full year of 2023, a net loss of nearly HK$287.1 million a year earlier. 실시간 바카라사이트
Success Universe is a joint venture partner with casino concessionaire SJM Holdings Ltd. in Ponte 16, a property located in Macau’s Inner Harbor region. The gaming venue is considered a “satellite” casino for SJM Holdings.
In a filing with the Hong Kong Stock Exchange on Monday, Success Universe said the expected fair value losses for the group’s overseas listed shares and investment properties and “losses of amortisation/damage to the book value of the group’s real estate and rental land and building shares” were “all essentially unrealised and non-cash items.”
The company stressed that such fair value losses will not affect the company’s cash flow. Success Universe said in the same filing that it expects to release unaudited consolidated interim results for the first half of this year later this month.
The company is currently gearing up for its long-anticipated expansion into the Ponte 16. The expansion plan is likely to include an investment of “HK$500 million to HK$600 million,” according to the company’s vice chairman, Hoffman Ma Ho Man.
