Success Universe Group on yearly loss

The Hong Kong-based firm works the 109-table Ponte 16 casino under a permit held by SJM Holdings Limited and January saw it issue a benefit cautioning to financial specialists that had educated with respect to the approaching decay because of lower than anticipated revenues from the Macau casino. Achievement Universe Group Limited, which detailed a shortage of about $862,000 for the entire of 2015, moreover announced at the time that its Chinese lottery business had seen diminished takings therefore of “the intentional and brief suspension of the paperless lottery deals office administrations”. Sports lottery and land-based casino administrator Success Universe Group Limited has discharged its budgetary outcomes for 2016 demonstrating that its net yearly misfortune had broadened by 364.4% year-on-year to remain at roughly $4 million. “The group will closely monitor the development and wait for a further announcement on the resumption date of paperless lottery sales from the Chinese government authorities,” read a statement from Success Universe Group Limited. Chinese government so as to take into account an administrative redesign of such organizations. In any case, the move was just intended to be transitory and the firm clarified that it was checking the circumstance with expectations of soon getting a recommencement date from terrain experts.

Success Universe Group

 

Achievement Universe Group Limited clarified that its 2016 revenues had dropped by 43.3% year-on-year to $73.75 million while its takings from Ponte 16 added up to around $2.25 million, which spoke to a disintegration of 40.3%, with the property’s balanced profit before intrigue, assessment, deterioration and amortization having fallen by 8.7% to $35.69 million. “The group is aware of the challenges that lie ahead and remains cautious of the increasing economic uncertainties of the global economy but capturing the right opportunities is the key to expanding and growing its business,” read a statement from Sonny Yeung Hoi Sing, Chairman for Success Universe Group Limited. “We believe that such strategies will lead to a stronger foothold in the gaming, entertainment and tourist-related industries in the Asia-Pacific region.”

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