• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Casino tech firm Paradise Ent 3Q EBITDA down 46 pct

Nov 14, 2017 Newsdesk Latest News, Macau, Top of the deck  


Casino tech firm Paradise Ent 3Q EBITDA down 46 pct

Hong Kong-listed casino equipment maker Paradise Entertainment Ltd reported on Monday third-quarter adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HKD46.1 million (US$5.9 million), down 46.3 percent from HKD85.8 million in the prior-year period. For the first nine months of 2017, such EBITDA was HKD47.0 million, down 44.3 percent on the HKD84.4 million achieved in that prior-year period.

The firm didn’t give – in its selected, unaudited highlights – a number for net profit in either the third quarter or the first nine months of 2017.

In August, Paradise Entertainment reported a first-half net loss of HKD40.2 million, but that was nonetheless a narrowing by 90.2 percent on the HKD416.8-million net loss in the first half 2016.

In the third quarter this year, total reported group revenue for Paradise Entertainment was HKD267.3 million, down 24.1 percent from the HKD352.1 million achieved in the corresponding period in 2016, the firm said in Monday’s filing. In the year to September 30, group revenue was HKD756.6 million, representing a decrease of 13.2 percent from the HKD871.9 million in the corresponding period in 2016.

As well as making casino equipment under the LT Game brand such as the Live Multi Game product – an electronic table games platform featuring a live dealer but electronic betting and bet settlement – Paradise Entertainment also operates gaming at several Macau casinos under so-called services agreements using the Macau gaming licences of, respectively, SJM Holdings Ltd and Galaxy Entertainment Group Ltd.

Total third-quarter gross gaming revenue (GGR) from gaming operations at SJM Holdings’-licensed Casino Kam Pek Paradise was HKD336.1 million, representing a decrease of 2.1 percent from the HKD343.4-million a year earlier. For the first nine months, GGR at Kam Pek was HKD923.8 million, down 1.8 percent from the HKD941.1-million tally in the prior-year nine months.

Total GGR from gaming operations at Galaxy Entertainment-licensed Casino Waldo in third quarter 2017 was HKD138.6 million, an increase of 11.7 percent from the HKD124.1 million in third quarter 2016, and for the calendar year to September 30 was HKD387.6 million, up 6.7 percent from the HKD363.2 million aggregate in the prior reporting period.

Paradise Entertainment said that as of September 30, the group held bank balances and cash amounting to HKD213.1 million and chips on hand valued at HKD54.5 million.


  • tweet
Related articles
  • Paradise Ent US$24mln loss in 2020 as gaming biz slumps
    Paradise Ent US$24mln loss in 2020 as...

    Mar 26, 2021  

  • Paradise Ent warns online fraudsters using boss, firm names
    Paradise Ent warns online fraudsters...

    Mar 23, 2021  

More news
  • Jeju Lotte casino shut, ready for permit swap to Dream Tower
    Jeju Lotte casino shut, ready for...

    Apr 09, 2021  

  • GEN Sing 2022 EBITDA to be below 2019 levels: Moody’s
    GEN Sing 2022 EBITDA to be below 2019...

    Apr 09, 2021  


Latest News

Jeju Lotte casino shut, ready for permit swap to Dream Tower

Jeju Lotte casino shut, ready for permit swap to Dream Tower

Apr 09, 2021  

Lotte Tour Development Co Ltd has closed its Jeju Lotte Tour Casino on the southern coast of the South Korean holiday island of Jeju, with effect from Friday morning. That was in preparation for...
Read More
GEN Sing 2022 EBITDA to be below 2019 levels: Moody’s

GEN Sing 2022 EBITDA to be below 2019 levels: Moody’s

Apr 09, 2021  

Guangdong urges cross-border bet criminals to surrender

Guangdong urges cross-border bet criminals to surrender

Apr 09, 2021  

Lawrence Ho awarded US$10mln in Melco Resorts shares

Lawrence Ho awarded US$10mln in Melco Resorts shares

Apr 09, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


110,000

Total number of suspects "apprehended" by Chinese police since 2020 as part of its anti- cross-border gambling operations



Most Popular

  • GEN Malaysia may deleverage within 2 years says FitchGEN Malaysia may deleverage within 2 years says Fitch April 7, 2021
  • Macau daily visit volume down 17pct m-o-m for April 2 to 6Macau daily visit volume down 17pct m-o-m for April 2 to 6 April 8, 2021
  • Moody’s expects MGM, Wynn to pursue large IR development Moody’s expects MGM, Wynn to pursue large IR development  April 8, 2021
  • China bans travel for 89, says some had overseas bet linksChina bans travel for 89, says some had overseas bet links April 6, 2021
  • Studio City new water park launches May 22: MelcoStudio City new water park launches May 22: Melco April 1, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us