Paradise Entertainment Limited (Stock Code: 1180.HK), the shares of which are listed on The Stock Exchange of Hong Kong Limited, is the holding company of a diverse group of companies that engages in casino management, and development, supply and leasing of game machinery and equipment.Paradise Entertainment Limited has been active in the Macau market as a casino service provider and gaming equipment supplier since 2007, and was incorporated as a constituent stock of Morgan Stanley Capital International (MSCI) Hong Kong Index as of 30th May 2014. Paradise Entertainment Limited is currently the sole service provider to 3 stand-alone satellite casino properties and an assigned area within a flagship casino. The company is also a major gaming equipment supplier in Macau and markets abroad.The Group’s gaming businesses are conducted under two flagship subsidiaries, LT (Macau) Limited and LT Game Limited. Our Casino Management business operates under LT (Macau) Limited while our Gaming Equipment Supply business operates under LT Game Limited.
Hong Kong-listed Paradise Entertainment has reported its 2019 annual results, including notice that it has withdrawn from management of the Casino Waldo. As for its decision on the Waldo, the company explained, “Considering the recent requirement to invest further for additional monitoring system and equipment to Casino Waldo to comply with new regulatory requirements which […]
Paradise Entertainment has announced the appointment of Kelcey Allison as senior vice-president for operations and business development of an indirect wholly-owned subsidiary in the United States. Allison will be principally responsible for driving business development on slot machines and electronic table gaming machines and equipment, overseeing and leading sales operations primarily in the North American […]
Hong Kong-listed Paradise Entertainment saw its total revenue in 19Q3 decrease 0.5 percent year-on-year to HK$270.9 million, due mainly to a fall in revenue from casinos under the group’s management. Reported revenue from casinos under the Group’s management in Q3 was HK$245.2 million, representing a decrease of 9.3 percent from the prior-year period. However, revenue […]
Paradise Entertainment Limited saw its profits fall 9.6 percent year-on-year to HK$23.8 million (US$3 million) in the first half of 2019, according to a filing from the supplier on Thursday. Total reported revenue of the group was HK$592 million in the half-year period, rising 5 percent year-on-year. Paradise said this was mainly attributable to an […]
Hong Kong-listed Paradise Entertainment, a developer of electronic gaming equipment and systems, has announced the purchase of around 25,000 square feet of warehouse property for a consideration of HK$90 million (US$11.5 million). Up until now, the group, which develops electronic gaming equipment and systems for sale in Macau and the overseas market, as well as […]
Paradise Entertainment chairman Jay Chun says he expects his latest line of slot machines, developed through its subsidiary LT Game, to be available at the latest in June, MNA reports. The group’s first self-developed slot machines were recently approved by the Gaming Inspection and Coordination Bureau (DICJ). In an interview with MNA, Mr. Chun noted […]
Paradise Entertainment reported a 6.3 percent drop in Q1 revenue, as sales from electronic gaming equipment and systems declined.
Paradise Entertainment Limited swung to a profit of HK$26.3 million (US$3.4 million) in 18H1, due mainly to a boost in revenue. Said revenue was HK$563.9 million in 18H1, up 15.2 percent year-on-year, while adjusted EBITDA for the six months was HK$59.7 million, up from HK$0.9 million recorded in the prior-year period. Paradise said this was […]
Paradise Entertainment said it has granted a license to Interblock, a supplier of luxury electronic gaming products, for the rights to “certain intellectual property” of non-live multi games in Macau.
Paradise Entertainment, of provider of electronic gaming equipment, said it expects to swing to a profit for the first half of this year, powered mainly by strong sales of equipment and systems.
Paradise Entertainment said one of its units has agreed to buy warehouse space in Macau for HK$128.5 million ($16.4 million) to reduce rental costs.
Paradise Entertainment posted a 31.1 percent gain in Q1 profit, boosted mainly by surging revenue from its electronic gaming division.
Macau gaming equipment supplier Paradise Entertainment reported a narrowed loss of HK$30.7 million (US$3.9 million) in 2017, down from a loss of HK$380.4 million the year before. The difference in loss was due to an absence of a one-off cash loss of HK$334.8 million which was recorded in 2016 in relation to the assignment and […]
LT Game Limited, a subsidiary of Paradise Entertainment Limited, has secured an agency agreement with a Chinese company for the research and development of gaming equipment, according to a recent company filing. The agreement was entered into as of February 12, 2018 – which allows the independent party “Shanghai Libiao” to research, develop and produce […]
Paradise Entertainment has welcomed new technical standards published by the Macau market regulator for the operation of dealer operated electronic table games. The new standards came into force from Jan 1 and provide a grace period for existing terminals to be upgraded to comply with the new rules. Any failing to comply after the grace […]
Macau gaming equipment supplier Paradise Entertainment saw a year-on-year decline in adjusted EBITDA for the third quarter of 2017, down 46.3 percent to HK$46.1 million (US$5.9 million), according to a filing from the company on the Hong Kong Stock Exchange. Total reported revenue for the group in 17Q3 was HK$267.3 million, representing a 24.1 percent […]
Paradise Entertainment Ltd recorded a loss of HK$35.3 million (US$4.5 million) for the six months ended June 30, 2017, compared to a loss of HK$410.5 million recorded in the prior year period. Paradise said the improvement was mainly due to the fact a loss from last year was not repeated. The company reported a loss […]
Hong Kong-listed Paradise Entertainment Ltd. has entered into a letter of intent for the proposed acquisition of two wholly-owned subsidiaries of China Star Entertainment Ltd. The subsidiaries, Most Famous Enterprises Ltd. and Charming Era Investment Ltd. are the owners and operators of Hotel Lan Kwai Fong in Macau as well as residential units which are […]
Paradise Entertainment swung to an adjusted EBITDA loss in Q1, as revenue from both its casino services business and its electronic gaming machine division declined. In a filing with the Hong Kong Stock Exchange, the company reported revenue of $235.3 million ($30.2 million), down 9.8 percent. Adjusted EBITDA was a loss of $10.1 million, compared […]
Paradise Entertainment says it has seen positive growth in the U.S. from its strategic accord with IGT, which it says will help it expand in overseas markets. The Macau-based supplier made the comments in its annual results announcement, in which it said its net loss ballooned to HK$355.1 million (US$45.7 million) for the year ended […]
ICE will host the largest delegation of senior gaming officials from Macau and the People’s Republic of China. The 20 strong, government funded delegation, led by Jay Chun, chairman of Paradise Entertainment, LT Game and the Asian trade body, MGEMA, will be at ICE to explore advances in AI and VR and how they impact […]
Paradise Entertainment Ltd has announced the resignation of Ms Stella Ho, its chief financial officer and company secretary. According to a company filing on Monday, Ms Ho’s resignation takes effect from February 6, 2017 “due to personal reasons”. Mr Chan Kin Man has been appointed in her place.
Paradise Entertainment Ltd. has announced that it will participate in the first edition of the International Film Festival & Awards Macau from December 9-11 this year, debuting the world’s first immersive media production- a television series and Virtual Reality 360 narrative. In partnership with LENS Immersive, Pioneer AR/VR Studio and The Pulse VR the narrative, […]
Paradise Entertainment, supplier of electronic gaming machines, says it expects to record a “substantial loss” for the year ending December 31, 2016, according to its filing to the Hong Kong Stock Exchange. “The expected loss …is mainly attributable to the preliminary estimated loss relating to grant of exclusive right to make, market and distribute electronic […]
Paradise Entertainment Limited has announced that its subsidiary LT Game Ltd., is offering EZ Baccarat on its Live Multi-Game systems; and MGM Macau has agreed to be the first casino to trial the electronic EZ Baccarat game on over 100 of its LT terminals in the next year. In April 2015, LT Game signed a […]
LT Game, a subsidiary of Paradise Entertainment Limited, will exhibit a variety of its products at stand AP19 at MGS. Visitors will be able to learn how the company’s latest innovations will benefit casino operators in further improving game efficiency and provide casino patrons a revolutionary gaming experience. The key highlights on LT Game’s booth […]
LT Game, a subsidiary of Paradise Entertainment Limited, will exhibit a variety of its products during the Macao Gaming Show at Booth #AP19. Visitors will be able to learn how the company’s latest innovations will benefit casino operators in further improving game efficiency and provide casino patrons with a revolutionary gaming experience. The key highlights […]
Mocha Club founder Chang Wang is investing in Macau’s Paradise Entertainment through the purchase of warrants carrying the rights to subscribe for shares. The net proceeds from the subscription of warrants are about HK$1.5 million, Paradise said in a filing with the Hong Kong Stock Exchange. However, if the rights are exercised in full, the […]
Gaming services provider Paradise Entertainment Limited says it saw a vastly widened loss of HK$416.8 million ($53.7 million) for the first half of 2016, compared to a net loss of HK$23.9 million in the first half of 2015. The losses are attributed to a one-off loss on its patents and patent applications deal with IGT, […]
Paradise Entertainment Limited has clarified that no decision has yet been granted by the Macau Courts in favor of Scientific Games Corp regarding the right to sell any electronic table game in the Macau market, according to a recent press release. “In fact, such a legal dispute, involving Mr. Jay Chun, Natural Noble Limited and […]
SHFL Entertainment (Asia) has withdrawn a claim in Macau’s court of First Instance against Paradise Entertainment Group and its Chairman Jay Chun over alleged patent infringement. As a result, the case was dismissed on May 3, Paradise said in a Hong Kong Stock Exchange filing. SHFL had claimed abuse of intellectual property rights relating to […]
New-York listed International Game Technology PLC has announced it has signed an agreement to acquire all of Paradise Entertainment Limited’s electronic table game technology, patents and intellectual property. Under the agreement, Paradise will transfer all of its electronic table game technology, patents and other intellectual property to IGT, “with certain exceptions for Table Game IP […]
Hong Kong-listed Paradise Entertainment swung to a loss in 2015 as revenue dropped in its casino management business and operating expenses, in particular labor costs, rose. The firm reported a loss of HK$148.9 million (US$19.2 million) in 2015 from a profit of HK$66.5 million in 2014, according to a filing to the Hong Kong Stock […]
Paradise Entertainment has announced it has entered into a Distributorship Framework Agreement with the brother in-law for Paradise Entertainment’s chairman, according to an announcement to the Hong Kong Stock Exchange. The agreement with Linyi Feng is for the sales and distribution of gaming products to the companies controlled by Feng for a term of three […]
Paradise Entertainment has announced it expects a loss for the year ending Dec. 31, 2015 due to slumping gambling revenue. According to a filing with the Hong Kong Stock Exchange, the gaming service provider and manufacturer attributed the loss to a decrease in GGR for the group’s casino management business, as well as an increase […]
Concerns have been raised about a potential surplus of casinos in South Korea, with the industry already hit by a global economic slowdown, lower VIP revenue globally, and unstable demand, local media reports. At a seminar held at Seoul National University this week, Pyo Hak K, an honorary professor of economics at SNU commented any […]
Amidst discussion of gaming staff salary hikes, and falling GGR in Macau, Hong Kong-based gaming machine manufacturer and supplier, Paradise Entertainment says its new robot dealer could cut labor costs and open up new markets for casino operators, Bloomberg reports. Named Min, the dealer’s current function is limited to dealing cards, however, planned enhancements include recognizing […]
LT Game is eyeing the European market for the next step in its global expansion and expects to see sales in the U.K. market beginning in the first quarter of next year. Jay Chun, chairman and managing director of parent company Paradise Entertainment, said the company expects to place its products with a “sizeable” company […]
Paradise Entertainment, a casino management and electronic gaming solutions provider in Macau, announced that it has successfully installed its Live Multi-Game solution at Casino Lan Kwai Fong. The new electronic gaming area opens with 63 LMG terminals, offering six baccarat games and Paradise Jackpot, under a leasing agreement. “Paradise is committed to meeting the needs […]
Paradise Entertainment, a gaming systems supplier, recorded a loss of HK$11.8 million ($1.5 million) for the six months ended June 30, compared to a profit of HK$50.46 million for the corresponding period in 2014. Revenue for the period decreased to HK$571 million, representing a drop of 6.4 percent, which was attributable to the decrease in […]
South Korean casino operator Paradise Co. reported a 17 percent drop in Q2 revenue, while net profit almost halved. Revenue was 143 billion won ($122.8 million), down from 172.5 billion won in the year-ago period. Net profit was 12.6 billion won, down 47 percent. Sales from the casino business, the largest segment, dropped by 17.6 […]
Paradise Entertainment Limited, an electronic gaming systems supplier, announced that it is expected to record a loss for the six months ending 30 June 2015, compared to a profit in the corresponding period in 2014. The expected loss for the six months ending 30 June 2015 is mainly attributable to a decrease in gross gaming […]
Paradise Entertainment, a casino management and electronic gaming company, has opened a new slot hall at Casino Waldo. The first phase of the new slot hall features 139 slot machines from slot manufacturers such as IGT, Aristocrat, Aruze, Aspect Gaming, Hydako and APE-Incredible Techonologies. The slot machines add to the existing 27 traditional gaming tables […]
Paradise Entertainment Limited, an electronic gaming solutions provider, announced that it has deployed 42 Live Multi-Game terminals at Galaxy Macau Phase 2, the latest property to open in Macau. The company, one of the biggest suppliers of games and casino systems in Macau, also deployed an additional 50 LMG terminals at Galaxy Macau Phase 1, […]
Paradise Entertainment Ltd, a casino service and equipment provider, posted a 15.7 percent increase in revenue for 2014 but a sharp decrease in profit. The company’s revenue for the year increased from HK$1 million in 2013 to HK$1.2 million representing an increase of 15.7 percent, attributable to the growth of the e-casino, Casino Kam Pek […]
Gaming machine supplier Paradise Entertainment reported a year-on-year profit decline of nearly 36 percent in 2014, while its revenue increased 15.7 percent due to a strong performance of its Casino Kam Pek Paradise, the company announced. Profit for the Hong Kong-listed company for the year decreased from HK$103 million ($13.2 million) to HK$66 million representing […]
Paradise Entertainment, a gambling machine supplier, said it has installed 78 of its Live Multi-Game terminals at Macau’s Grand Lisboa. The installation is part of a sales agreement between Paradise Entertainment and the casino for up to 120 LMG terminals. “Casino operators in Macau are increasingly seeking table gaming solutions that allow them to quickly […]
The Macau government needs to change its policies to nurture the local gambling equipment manufacturers, as it is losing a golden opportunity to develop the industry and create quality jobs for residents, the head of the industry association said.
Paradise Entertainment has warned that it expects to report a loss in 2015 as a result of the slump in Macau’s gaming revenue, though its LT Game supplier unit sees no such gloom and predicts 2016 will be the year it makes significant headway in the U.S. With the help of IGT, it sold its first product in the U.S. to The Palazzo in Las Vegas last year and now expects further sales and geographic expansion.
Electronic table games have gained a strong and growing foothold in Macau’s traditionally baccarat-dominated casinos and may prove key in populating the floors of new multi-billion dollar resorts amid a tight cap on tables and ongoing labour shortages.