Apr 15, 2019 Newsdesk Latest News, Macau, Top of the deck  
Casino equipment maker and casino operations manager Paradise Entertainment Ltd has recommended its board pay a HKD0.025 (US$0.0032) final dividend per ordinary share for the year ending December 31.
The plan will be put to a vote at the firm’s annual general meeting in Hong Kong on May 21, the firm said in a Friday filing to the Hong Kong Stock Exchange. In March Paradise Entertainment had reported a HKD58.2-million profit for 2018, compared to a HKD30.7-million loss in 2017.
In a separate Friday filing, the firm – which makes and sells electronic gaming machines under the LT Game brand – said that as of April 9, Paradise Entertainment chairman Jay Chun and interests controlled by him owned just under 60 percent of its issued shares.
That filing noted that the annual meeting in May would be asked to give the directors new mandates to repurchase up to 10 percent of the group’s issued share capital, and allot new shares up to a nominal amount of 20 percent of such issued share capital. The share repurchase – if exercised in full – would have the effect of boosting Mr Chun’s holding in the firm to nearly 67 percent.
The latter filing stated: “As at the latest practicable date, Mr Jay Chun and August Profit Investments Ltd, a company wholly owned by Mr Jay Chun are beneficially interested in approximately 59.96 percent of the issued share capital of the company. In the event that the directors exercise in full the power to repurchase shares pursuant to the repurchase mandate, the interests of Mr Chun and associate would be increased to approximately 66.63 percent of the issued share capital of the company.”
Mar 27, 2024
Mar 26, 2024
Apr 19, 2024
Apr 19, 2024
Apr 19, 2024
The deployment of a “smart table” product – combining the use of radio frequency identification (RFID) technology and cameras gathering data for analysis via artificial intelligence (AI) –...(Click here for more)
”Once Solaire North is fully ramped up, and both properties are generating a certain expectation that we have on cash flow… then we will probably launch the Paniman [casino] project”
Enrique Razon
Chairman and chief executive of Bloomberry Resorts