Ponte 16 operator's 2023 profit sales decline

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asked Jul 15, 2024 in H&E by outlookindiacomplug (280 points)

Thurgess Universe Group, an investor in Macau casino hotel Ponte 16 (pictured), posted full-year net income of HK$169.3 million ($201.6 million) in 2023, a net loss of nearly HK$287.1 million in the prior year.

Overall group revenue last year was HK$101.9 million, down 11.2% from 2022. Cost during the reporting period fell 16.8% year-on-year to HK$85.1 million, the Hong Kong-listed company said on Wednesday.

Thurgess Universe is a joint venture partner with casino concessionaire SJM Holdings Ltd. in Ponte 16, a property in Macau's inner harbor region. The gaming venue is considered a "satellite" casino in SJM Holdings.

THERUSES UNIVERSE COMPANY SAYS GROUP SHARED PROPERTY OF RELATED TO FONTE 16 WAS HK$143.7 MILLION IN 2023, up sharply from a loss of about HK$42.1 MILLION YEAR AGO.

The company also posted a fair value profit of about HK$95.4 million on the group's overseas listed equity securities last year, with a fair value loss of HK$174.1 million in 2022.

SURCE UNIVERSE SAYS FONTE 16 COMPARED TO EBITDA OF HK$334.1 MILLION FOR 2023 INTEREST, TAXATION, DEPRESSURE AND REDUCTION, COMPARED TO HK$46.2 MILLION FOR YEAR AGO.

The company did not recommend a final dividend payment. It made a corresponding recommendation a year ago.

In February, Success Space Vice Chairman Hoffman Mahoman said plans to expand the Ponte 16 complex had been submitted to the Macau government and approved.

At a press conference in Hong Kong, Ma said the extension to the Ponte 16 would likely include an investment of "HK$500 million to HK$600 million." The extension project, which the company calls "Phase III," will include a shopping mall and outdoor "plaza," which Ma mentioned to GGRAsia last year.

BY: 바카라사이트

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