CASINO

Paradise Ent Q1 2018 revenue climbs to $39.28M

TAGs: Macau, Paradise Entertainment

Revenue of Macau-based gambling operator Paradise Entertainment Ltd. jumped 31.1 percent in the first three months of 2018 on the back of growing demand for electronic gaming equipment.

Paradise Ent Q1 2018 revenue climbs to $39.28MIn a disclosure to the Hong Kong Stock Exchange, Paradise reported revenues of HKD308.4 million (US$39.28 million) in the first three months of 2018, up from HKD235.3 million ($29.97 million) in the same period last year.

Paradise also saw its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rebound to HKD51.8 million ($6.6 million) from a loss of HKD10.1 million ($1.29 million) in Q1 2017.

Its casino management business remains the most lucrative and biggest contributor to the company’s revenue. Revenue from casinos under Paradise’s management was HKD257.6 million ($32.81 million), up 19 percent year-on-year.

The company operates Kam Pek Paradise Casino on the Macau peninsula under the gaming license of SJM Holdings while it also manages the Waldo Casino and Hotel under a gaming license from Galaxy Entertainment Group.

Paradise’s total gross gaming revenue (GGR) from Kam Pek Paradise stood at HKD354.4 million (US$45.14 million), up 28.9 percent. Total GGR from Casino Waldo’s gaming operations dropped by 3.3 percent to HKD113.3 million (US$14.43 million).

Paradise saw the biggest revenue growth from the development, sale and leasing of electronic gaming equipment and systems, which leaped by 170.2 percent to HKD50.8 million ($6.47 million).

Electronic gaming equipment sales did not include the inter-company revenue from live multi-gaming (LMG) machines deployed in the casinos, according to Paradise.

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