• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Paradise Ent narrows 1H loss to US$2.7mln, as rev grows

Aug 27, 2021 Newsdesk Latest News, Macau, Top of the deck  


Paradise Ent narrows 1H loss to US$2.7mln, as rev grows

Casino games maker and casino management firm Paradise Entertainment Ltd reported a nearly HKD20.8-million (US$2.7-million) net loss for the first half this year, compared to a HKD109.4-million loss in the prior-year period, it said in a Thursday filing to the Hong Kong Stock Exchange.

Group-wide revenue for the period rose by 45.4 percent year-on-year, to HKD257.9 million in the first six months of 2021.

The group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were HKD5.1 million in the first half, versus a negative performance of HKD53.5 million in the opening six months of 2020.

The Hong Kong-listed firm controls LT Game Ltd, a brand that provides of electronic gaming equipment and management technology for casinos. It also runs casino operations at Casino Kam Pek Paradise, under the licence of Macau concessionaire SJM Holdings Ltd.

Most of the group’s revenue, 88.3 percent, i.e. HKD227.7 million, came from casino management services, rather than gaming product sales or product leasing. First-half 2021 casino management revenue recorded a 59.7-percent increase from the HKD142.6-million such revenue realised in first-half 2020.

Paradise Entertainment saw its first-half revenue from the electronic gaming equipment and systems segment nearly triple, to HKD30.2 million. The company said it provided upgrading services to 1,228 live multi game (LMG) terminals at various casinos in Macau, and sold 12 slot machines in overseas markets.

Nonetheless, the segment recorded a loss of HKD14.3 million, mainly because of HKD27.9 million in costs related to research and development, the company said.

A separate release from Paradise Entertainment quoted Jay Chun, the firm’s chairman and managing director, as saying that amid the “increasing awareness” regarding health issues, the group’s LMG machines had “continued to perform well.”

“The group will continue to invest in research and development and other costs on electronic gaming equipment and systems,” he added. “We believe such investment strategy will create a solid platform for our future growth in both Macau and the global market in the long run.”

Mr Chun said additionally that the company did “not anticipate a solid rebound” in its overall performance, amid uncertainties caused by the Covid-19 pandemic.

Paradise Entertainment slipped to a HKD189.2 million net loss for full-year 2020, compared to a HKD926,000 profit in 2019, according to its annual results published in March.


  • tweet
Related articles
  • McFadden now senior advisor for development at SJM Resorts
    McFadden now senior advisor for...

    Dec 07, 2023  

  • Macau hits back at Moody’s over credit outlook downgrade
    Macau hits back at Moody’s over...

    Dec 07, 2023  

More news
  • Singapore 2024 casino revenue to rise 10pct y-o-y says Fitch
    Singapore 2024 casino revenue to rise...

    Dec 07, 2023  

  • Pragmatic Play launches Lucky 6 Roulette with a twist
    Pragmatic Play launches Lucky 6...

    Dec 07, 2023  


Latest News

Singapore 2024 casino revenue to rise 10pct y-o-y says Fitch

Singapore 2024 casino revenue to rise 10pct y-o-y says Fitch

Dec 07, 2023  

Fitch Ratings Inc expects gaming revenue in Singapore’s duopoly casino market to expand by 10 percent year-on-year in U.S. dollar terms in 2024, “following a return to over 15 percent higher than...
Read More
Pragmatic Play launches Lucky 6 Roulette with a twist

Pragmatic Play launches Lucky 6 Roulette with a twist

Dec 07, 2023  

McFadden now senior advisor for development at SJM Resorts

McFadden now senior advisor for development at SJM Resorts

Dec 07, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”If they [Star Sydney] can’t prove they are capable of operating with a conditional licence over the next six months, the manager will be retired, and the doors will close”

New South Wales Independent Casino Commission



Most Popular

  • Ben Toh COO of SJM Resorts, Christopher Ip CFO at parentBen Toh COO of SJM Resorts, Christopher Ip CFO at parent December 6, 2023
  • LVS to pay up to US$250mln to boost control in Sands ChinaLVS to pay up to US$250mln to boost control in Sands China December 6, 2023
  • Macau 4Q mass GGR might rise 10pct q-o-q: JP MorganMacau 4Q mass GGR might rise 10pct q-o-q: JP Morgan December 5, 2023
  • Soil remediation work starts at MGM Osaka siteSoil remediation work starts at MGM Osaka site December 5, 2023
  • McFadden now senior advisor for development at SJM ResortsMcFadden now senior advisor for development at SJM Resorts December 7, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us