Macau Success Losses on Macao Casino Operations
September 25, 2008
Filed under Business, Macau Success, Sofitel Ponte 16
Macau Success Ltd, part owners of Ponte 16 Casino, shares were sharply lower after the company warned of a net loss for the year to September.
The stock was down today 0.16 hkd or 20.51 pct at 0.62, off a low of 0.60.
Macau Success said it expects to post a loss for the year to September due to depreciation charges and high operating costs in the initial stage of operations at some associate firms.
It added that its cruise leasing and management businesses have also been adversely affected by high fuel oil and operating costs.
Macau Success operates a casino cruise ship and other tourist-related businesses.
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