Paradise Entertainment posts 17Q3 EBITDA decrease

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 decrease from HK$352.1 million in 16Q3.

The decrease in total revenue was mostly attributed to a fall in revenue from its gaming systems business, which reported revenue of HK$41.6 million, down 67 percent.

Meanwhile, revenue from casino management services stayed relatively flat compared to the prior year period.

Paradise Entertainment 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 is currently the sole service provider to a number of 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) Ltd and LT Game Ltd.