China – Success Universe hit by lottery suspensionBy Phil - 23 January 2017
Hong-Kong-based lottery and casino group Success Universe has warned investors advising that its 2016 loss could be three times worse than feared.
The group’s Ponte 16 casino in Macau earned less than expected last year whilst its lottery business in China decreased due to ‘the voluntary and temporary suspension of the paperless lottery sales agency services.’
Yeung Hoi Sing, Chairman for Success Universe, said: “The company is still in the process of preparing the final results of the group for the year ended December 31, 2016. The information contained in this announcement is only based on a preliminary assessment by the board with reference to the unaudited consolidated management accounts of the group for the eleven months ended November 30, 2016, and is not based on any information or figures that have been audited or reviewed by the company’s auditors.”