Paradise Entertainment revenue up 36.2% in H1

Revenue was HK$246.7m (US$31.4m), up 36.2 per cent when compared to last year.

Macau.- Paradise Entertainment has posted revenue of HK$246.7m (US$31.4m) for the first half of the year, up 36.2 per cent on year-on-year terms. Adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) reached HK$31m (U$3.95m), compared with an EBITDA loss of HK$64.4m (US$8.2m) a year earlier.

However, Paradise Entertainment recorded a loss of HK$3m (US$382,000) for the first six months of the year. Adjusted EBITDA from the casino under the group’s management amounted to HK$55.8m, compared with a loss of HK$23.3m for the first half of the year 2022. A major factor behind the turnaround was the increase in gross gaming revenue (GGR) generated by Casino Kam Pek Paradise in Macau.

Electronic gaming equipment and systems saw an adjusted EBITDA loss of HK$17.5m, an improvement due to cost control related to research and development and other expenses associated with electronic gaming systems.