Hong Kong-listed casino equipment maker and gaming services provider Paradise Entertainment Ltd says it has freshly deployed a total of 267 of its Live Multi Game (LMG) terminals at two casino properties in Macau.
In a press release on Friday, Paradise Entertainment said it had signed an agreement on February 15 to install 50 LMG terminals at L’Arc, a casino hotel in the city’s traditional downtown casino district on the Macau peninsula. The gaming venue is operated under the licence of Macau casino operator SJM Holdings Ltd.
The Hong Kong-listed firm said the LMG terminals are to be installed under a revenue sharing arrangement for an initial term of three years, renewable every two years thereafter.
Paradise Entertainment stated it had also deployed 217 LMG terminals at MGM Cotai, a property promoted by MGM China Holdings Ltd. Paradise Entertainment said the machines were sold and were put into operation upon the opening of MGM Cotai on February 13.
“Our recent deployment of LMG terminals in Macau … poses a very good start for our business in 2018. It also shows that LMGs – our flagship product – are welcomed by both casinos of gaming licence holders and satellite casinos in Macau,” said Jay Chun, chairman and managing director of Paradise Entertainment, in a statement included in the press release.
He added the product could “enhance the player gaming experience in casinos and… provide better gaming efficiency and security, and cost-saving” for the operators.
Paradise Entertainment develops, supplies and sells electronic gaming systems in Macau and internationally under the LT Game brand. The Live Multi Game product features electronic betting and bet settlement but with a live dealer, and is popular with Asian players.
The Hong Kong-listed casino equipment maker in August posted a net loss of HKD40.2 million (US$5.1 million) for the first half of 2017, down 90.2 percent from the prior-year period. The company is yet to report its annual results.
"The positive underlying contribution from each of our operating segments provides a strong start to the year"
Chief executive of lottery and gaming supplier IGT