Paradise Entertainment expects to post profit of US$15.32m for H1

The company saw a 48.5 per cent increase in revenue from casino management services in Macau.

Macau.- Paradise Entertainment has announced that it expects to record a profit of HK$119.4m ($15.32m) for the first half of the year. The figure compares to a loss of HK$3m (US$384,880) for the first half of 2023.

According to the company, the increase in profit was driven by a 48.5 per cent increase in revenue from casino management services in Macau due to higher gaming revenue at Casino Kam Pek Paradise, and a 1,743.2 per cent increase in revenue from selling/leasing electronic gaming equipment and systems in Macau, mainly attributed to a rise in demand for live multi-game terminals and related products.

Paradise Entertainment expects to publish its financial results for the first six months of the year by the end of August.

In 2023, the company posted revenue of HK$634.3m (US$81m), up 113 per cent on year-on-year terms. Adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) reached HK$133.6m, compared with a negative figure of HK$109m a year earlier. Profit attributable to its owners was just under HK$65.8m (US$8.4m).