The Macau gaming company has reported that revenue grew to HK$494.1m ($63.1m) in 2021.
Macau.- Paradise Entertainment Ltd has shared its financial results for the year ending December 31, posting revenue of HK$494.1m ($63.1m). That’s mainly thanks to a rise in the provision of casino management services in Macau and the sale of electronic gaming equipment and systems.
The company reported a net loss of HK$88.4m while adjusted EBITDA for the period was HK$18.4m, compared with a loss of HK$101.1m for 2020.
Revenue generated from Casino Kam Pek Paradise was up 27.3 per cent to HK$415.7m while revenue from electronic gaming equipment sales and leasing grew 210 per cent year-on-year to HK$78.4m.
Casino Kam Pek Paradise’s gross gaming revenue (GGR) was HK$761.7m, up 36.8 per cent. Paradise’s live multi-game terminals generated more revenue than traditional tables at HK$214.9m, compared with HK$187.8m.
Jay Chun, Paradise Entertainment’s chairman and managing director, stated: “We remain confident that the Group’s business growth will continue to be propelled by our continuous innovation in the gaming equipment industry using top-notch and innovative technology to create more good gaming products that align well with casinos of mass-market worldwide.”
Regarding the future of satellite casinos in Macau, the company said: “The group is still waiting for further details of relevant provisions of the Draft Bill to be announced and confirmed and will assess its impact on the Group’s operations.
“That said, it has no doubt that satellite casinos (including Casino Kam Pek Paradise) in Macau have made a significant contribution to Macau’s economic development and job creation in the past decades.”