Success Universe posts US$17 million loss for H1

Success Universe Group, which operates Sofitel Macau At Ponte 16, has posted HK$132.2 million (US$17 million) in net losses in the first half of this year.

Revenue for the half was HK$334 million, just about half of what it had been in 2019.

“With the suspension of group and individual travel visas from the mainland,” the company statement said, “the pandemic is inevitably hitting Ponte 16’s gaming performance. As of June 30, 2020, the casino of Ponte 16 had 78 gaming tables in operation, consisting of 69 mass gaming tables, 5 high-limit tables and 4 VIP tables. Due to the global travel haul, the facility utilisation and the average occupancy rate of Sofitel Macau At Ponte 16 remained low.”

Nevertheless, it added, “Hospitality is one of the sectors which is hardest hit by the unprecedented pandemic. Sofitel Macau At Ponte 16 has, however, remained steadfast in maintaining its high quality of service with its widely recognized efforts.”