Paradise Ent profit falls 9.6% in 19H1

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 increase in revenue from the sale of electronic gaming equipment and systems. 

Adjusted EBITDA for the six months ended 30 June 2019 was HK$63.3 million, representing an

increase of 6 percent year-on-year. 

The company is mainly involved in two areas of operations, the provision of casino

management services, and the development, sale, and leasing of electronic gaming equipment and systems.

Looking ahead, Paradise said it is looking forward to the debut of its self-developed slot machines across the world. 

“With a robust development pipeline to embrace slot machines’ supply, the Group is well-positioned to place itself at the forefront of the global gaming industry as we are no longer a mere LMG products provider,” it said. 

“We are confident that the brand-new slot machines will generate fresh revenue streams for the Group. The availability of slot machines and new games also marks the ambition of the Group to increase its product presence in the global gaming equipment market.”