Paradise Entertainment Ltd has reported that prior to the Covid-19 pandemic it was working to diversify its business by investing in developing slot machines and new electronic table game products.
Macau.- The Covid-19 pandemic has put back Paradise Entertainment Ltd’s plans to diversify into slots development, holding up the deployment of machines.
Jay Chun, Paradise Entertainment chairman and managing director, said: “The Covid-19 pandemic has swept the globe, and most casinos were also shut down for certain periods in 2020. This has inevitably affected the deployment plan of our self-developed slot machines in these markets.”
The company, which controls LT Game Ltd, a brand that provides electronic gaming equipment and management technology for casinos, aims to diversify its business by launching its new slot machines and games in Macau and North America.
In 2020, the company reported a 70.2 per cent decrease in revenue year-on-year with revenue of HK$351.7m (US$45.3m), and an adjusted EBITDA loss of HK$101.1m (US$13m).
In March 2020 Paradise Entertainment announced it had left the management of the Casino Waldo to focus on operations at Casino Kam Pek Paradise.