SUCCESS UNIVERSE GROUP, an investor in Macau casino hotel Ponte 16 (file photo), said it expects the company’s consolidated losses in the first half of 2021 to be at least 2-up to 1.5 times the losses it recorded in the first half of 2021.
Success Universe is a joint partnership with Casino Conservation Ayr SJM Holdings Ltd in Ponte 16 in the Inner Harbor District of Macau.
In a filing with the Hong Kong Stock Exchange on Friday, the company noted a loss of HK$52.8 million ($6.8 million) in the first half of 2021.
The deteriorating financial performance expected in the first half of 2022 “did not withstand a decline in the group’s share of losses from officials related to Ponte 16,” Success Universe said.
The company noted that the expected increase in unaudited consolidated losses “will be mainly due to a significant increase in unrealized fair value losses on the Group’s overseas listed equity securities.”
“Unrealized fair value losses are non-cash items and will not affect the group’s cash flow,” the successful Universe added 슬롯머신
The company is still finalizing its unaudited first-half results. They are likely to be announced later this month.