Macau Success, which is building the Ponte 16 hotel-casino project in the former Portuguese enclave, saw net income fall 20.4 per cent in the year to September after offloading non-core businesses, including its construction and retailing units.
Profit dropped to $12.29 million from $15.44 million in the previous year, the company said yesterday.
Sales tumbled 47.43 per cent to $100.9 million from $191.95 million a year earlier.
The company is building the $2 billion Ponte 16 development near the Zhuhai border in a venture with Stanley Ho Hung-sun's Sociedade de Jogos de Macau.
Macau Success also leases out a cruise ship used for gambling trips and is involved in loan agreement with King Seiner Palace, a VIP gambling rooms operator.
Under the deal, Macau Success is entitled to 20 per cent interest on the $50 million loan it made to King Seiner Palace or a maximum of 18 per cent of the net VIP rooms profit, whichever is higher.