Success Universe Group, owner and operator of Macau’s renowned Ponte 16 casino, is now in talks with the government about future expansion plans. These plans include the refurbishing of an existing floating casino, as the corporation seeks to improve and broaden its offers for visitors.
Reimagining Macau’s Floating Casino Landscape
Macau presently has only one floating casino, the Casino Macau Palace, which has been mostly defunct since its decommissioning. However, Success Universe Group intends to revitalize the existing floating casino rather than build a new one. The renovated Macau Palace will become a diversified business with restaurants, retail services, and a museum reflecting the rich tradition of gaming culture. The expected cost of this transformation exceeds HKD100 million ($12.8 million), and Success Universe Group is in talks with banks to seek funding for the project.
Differing Opinions: Museum or Entertainment Attraction?
While Success Universe Group intends to adapt the floating palace into a museum-style entertainment destination with food and beverage options, recent statements from SJM President Daisy Ho point to a different path. Ho has previously stated that the corporation planned to transform the floating palace into an immersive exhibition experience. The opposing perspectives suggest the possibility of a new blend of dining, retail, and cultural events that will attract tourists.
Macau’s Gaming Industry Has Bright Future
Hoffman Ma, the Deputy Chairman of Success Universe Group, emphasizes Macau’s casino industry’s recent strong results. Ma is confident about the future, citing Macau’s achievement of half of the government’s objective of MOP130 billion ($16.2 billion) in gross gaming revenue (GGR) from January to May. The number of visitors is reaching pre-pandemic levels, and the labor crisis is progressively alleviating due to the increase of non-resident personnel. Ma expects quarterly GGR to increase by 10% in the second quarter, highlighting the industry’s resilience and potential for further recovery.
Remarkable Rebound by Ponte 16
Success Universe Group’s Ponte 16 has seen a significant improvement in day-to-day operations this year. Ma boldly declares that the hotel’s occupancy rate and average prices have risen to 85% of 2019 levels, demonstrating Macau’s hospitality sector’s resilience. While Ponte 16 has not yet announced plans to resume VIP operations, the steady comeback indicates the casino’s strong momentum and dedication to offering an exceptional guest experience.
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