{"id":16261,"date":"2021-03-26T15:44:46","date_gmt":"2021-03-26T15:44:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16261"},"modified":"2026-04-23T20:49:51","modified_gmt":"2026-04-23T23:49:51","slug":"paradise-entertainment-posts-losses-of-us25m-for-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-entertainment-posts-losses-of-us25m-for-2020","title":{"rendered":"Paradise Entertainment posts losses of US$25m for 2020"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Macau gaming company has posted revenue of HK$351.7m (US$45.3m) for FY2020, a 70.2 per cent decline from the prior-year period.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Macau.- <strong>Paradise Entertainment Ltd <\/strong>has<strong> reported a 70.2 per cent decrease in revenue <\/strong>year-on-year for the fiscal year 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Revenue totalled HK$351.7m (US$45.3m) and <strong>adjusted EBITDA for the year was a loss of HK$101.1m (US$13m)<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company <strong>reported losses in all segments<\/strong>, especially in Electronic Gaming Equipment and Systems, which saw an <strong>85.8 per cent fall in revenue year-on-year to HK$25.3m (US$3m) <\/strong>and an adjusted EBITDA loss of HK$71.6m (US$9m).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jay Chun, <strong>Paradise Entertainment chairman and managing director<\/strong>, said: &#8220;2020 has been an exceptionally challenging and difficult time for all business sectors, and the gaming industry was not an exception, as <strong>Covid-19 has impacted every sphere of life<\/strong> and has upended all economies.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Casino Kam Pek Paradise<\/strong>, the one casino still under the group\u2019s management, <strong>saw a 56 per cent fall in revenue <\/strong>to HK$556.6m (US$72m).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Paradise Entertainment announced in March 2020 its <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/paradise-entertainment-casino-waldo\" target=\"_blank\">withdrawal from the management of the Casino Waldo<\/a><\/em>, but the first two first months of the casino&#8217;s operations contributed<strong> GGR of HK$43.4m (US$6m) <\/strong>and an adjusted EBITDA loss of HK$17.8m (US$2m).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Macau gaming company has posted revenue of HK$351.7m (US$45.3m) for FY2020, a 70.2 per cent decline from the prior-year period.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau-based Paradise Entertainment Ltd. reported a 70.2% year-on-year revenue decline to HK$351.7m and an adjusted EBITDA loss of HK$101.1m for FY2020, primarily due to the severe impact of Covid-19 on the gaming industry. All segments experienced losses, with Electronic Gaming Equipment and Systems seeing an 85.8% revenue fall, underscoring the significant operational challenges faced by the group.","focusai_entities":"Paradise Entertainment Ltd., Jay Chun, Casino Kam Pek Paradise, Casino Waldo","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"FY2021 Outlook","query":"What are Paradise Entertainment's strategic initiatives and financial projections for FY2021, specifically addressing the recovery of its Electronic Gaming Equipment and Systems segment and the performance of Casino Kam Pek Paradise amidst evolving Macau market conditions?"},{"label":"Liquidity & Debt","query":"Given the substantial adjusted EBITDA loss, what is Paradise Entertainment's current liquidity position, and how does this financial performance impact its debt covenants and capital expenditure plans for the upcoming fiscal year?"}],"footnotes":""},"categories":[16338,163],"tags":[512,23722],"class_list":["post-16261","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","tag-gaming","tag-paradise-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16261"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16261\/revisions"}],"predecessor-version":[{"id":16289,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16261\/revisions\/16289"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}