Casino management services and electronic gaming equipment company Paradise Entertainment, has announced a positive profit alert for the six month period ended June 30th, 2024, expecting profit of some HK$119.4 million ($15.32 million).
The figure compares to a loss of HK$3 million ($384,880) for 1H23.
The group attributes the profit increase to a 48.5 percent increase in revenue from the provision of casino management services – as a result of the increase in GGR from Casino Kam Pek Paradise in Macau (pictured), under the group’s management, ‘following the increase in the number of patrons to the casino’.
The group also noted that there was a 1,743 percent increase in revenue from its sale and leasing of EGMs and systems due to a ‘significant rise in demand for live multi game (LMG) terminals and related products in Macau’.
Revenue from the segment rose by HK$64.5 million ($8.27 million) year-on-year.
The group expects to publish its interim results ‘by the end of August’.
