Success Universe Group Ltd, a company listed on the Hong Kong Stock Exchange and a key partner in Macau's renowned Ponte 16 resort, has secured an extension for the maturity date of a significant shareholder loan. This extension is a result of successful negotiations with Industrial and Commercial Bank of China (Macau) Ltd, prolonging the loan’s maturity to June 2026, according to a filing on a recent Friday.
Ponte 16's Ownership and Loan Details
The company Pier 16 – Property Development Ltd, which acts as the controlling body of Ponte 16, is owned 51% by SJM Investment Ltd – a subsidiary of SJM Resorts Ltd, a Macau concession holder – and 49% by Success Universe. The extended loan facility provided by Success Universe incorporates a transferable term loan alongside a revolving loan, with cumulative sums of HKD160 million (approximately US$20.5 million) and MOP273 million (approximately US$34.0 million) dedicated to Pier 16 – Property Development.
These financial arrangements are protected by a first mortgage over the property in favor of Industrial and Commercial Bank of China (Macau). As an associate owning 49% of Pier 16 – Property Development, Success Universe's directors recognize that furnishing this financial assistance until 2025 is advantageous to their group, supporting the growth and operations of Ponte 16.
Financial Support Timeline and Future Outlook
Since 2012, Success Universe has continuously established facility agreements to aid Ponte 16, with the latest agreement dated to 2023 and amounting to HKD230 million and MOP273 million, which reached maturity on June 23 of the current year. As of July 28, the outstanding balance of the shareholder’s loan from Success Universe registered at approximately HKD342 million, while the company’s maximum liability under an existing guarantee stood at HKD490 million.
Furthermore, Success Universe highlighted in July that its projected total financial assistance for Pier 16 – Property Development could ascend to HKD839 million, indicative of a proposed one-year extension of a lending facility. This extension surpasses the specified date when the casino within the urban establishment must cease being a satellite operation as per Macau's revised gaming regulation framework.
The casino, operated under the SJM group’s license, is scheduled to end its satellite status by the conclusion of this year. In June, SJM Holdings expressed intentions to integrate Ponte 16's gaming operations into its principal roles. The previous November saw the Macau government's authorization for the long-awaited extension of non-gaming facilities at Ponte 16. The approval also covered an updated public land concession conducive to development. The sanctioned facilities include a 'commercial building,' a 'plaza,' and the 'vessel' known as Macau Palace.
Source: Success Universe extends a loan facility to Ponte 16, amends terms, GGRAsia, August 19, 2025
Posted by Wizard
Aug 20 2025
Aug 20 2025
Comments
No comments for this article.