{"id":22060,"date":"2021-08-27T11:41:57","date_gmt":"2021-08-27T14:41:57","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22060"},"modified":"2026-04-23T16:14:21","modified_gmt":"2026-04-23T19:14:21","slug":"paradise-entertainment-posts-losses-of-us2-7m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-entertainment-posts-losses-of-us2-7m-for-h1","title":{"rendered":"Paradise Entertainment posts losses of US$2.7m for H1"},"content":{"rendered":"\n

The Macau gaming company has posted a net loss of HK$20.8m (US$2.7m) for the first half of the year, compared to a loss of HK$109.4 in the prior-year period.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Paradise Entertainment Ltd\u00a0<\/strong>has\u00a0reported a net loss of\u00a0<\/strong>HK$20.8m (US$2.7m) for the first half. Revenue was up 45.5 per cent growth <\/strong>year-on-year. Adjusted EBITDA for the period was\u00a0<\/strong>HK$5.1m, compared with a loss of HK$53.5m in the first half of 2020.<\/p>\n\n\n\n

Some 88.3 per cent of Paradise Entertainment’s revenue\u00a0<\/strong>for the first half came from its casino management services \u2013up 59.7 per cent from HK$142.6m to HK$227.7m. Electronic Gaming Equipment and Systems revenue<\/strong>\u00a0was up 73 per cent to HK$25.6m thanks to upgrades for casinos in Macau<\/strong>\u00a0and sales of 12 slot machines in overseas markets.<\/p>\n\n\n\n

Jay Chun<\/strong>, Paradise Entertainment’s chairman and managing director, stated: “The group will continue to invest in research and development <\/strong>and other costs on electronic gaming equipment and systems. <\/p>\n\n\n\n

“We believe such investment strategy will create a solid platform for our future growth in both Macau and the global market in the long run.\u201d<\/p>\n\n\n\n

In March,\u00a0the company<\/a>\u00a0posted revenue of HK$351.7m (US$45.3m) for FY2020, a 70.2 per cent decline from the prior-year period. Revenue totalled HK$351.7m (US$45.3m) and\u00a0adjusted EBITDA for the year was a loss of HK$101.1m (US$13m)<\/strong>.<\/p>\n\n\n\n

The company reported losses in all segments<\/strong>, especially in Electronic Gaming Equipment and Systems, which saw an 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

Last March, Paradise Entertainment announced its\u00a0withdrawal from the management of Casino Waldo<\/a>. The first two first months of the casino\u2019s operations contributed\u00a0GGR of HK$43.4m (US$6m)\u00a0<\/strong>and an adjusted EBITDA loss of HK$17.8m (US$2m).<\/p>\n","protected":false},"excerpt":{"rendered":"

The Macau gaming company has posted a net loss of HK$20.8m (US$2.7m) for the first half of the year, compared to a loss of HK$109.4 in the prior-year period.<\/p>\n","protected":false},"author":176,"featured_media":22061,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Paradise Entertainment Ltd reported a significantly reduced net loss of HK$20.8m for H1, a substantial improvement from the prior year, driven by a 45.5% revenue increase and positive adjusted EBITDA. This turnaround was primarily fueled by its casino management services and Electronic Gaming Equipment sales, with the company committing to further R&D investment for future growth in Macau and global markets. The improved performance follows a challenging FY2020 and the recent strategic withdrawal from Casino Waldo management.","focusai_entities":"Paradise Entertainment Ltd, Jay Chun, Casino Waldo","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (0.9), product_ux (0.7), tech_data (0.8), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"EGE R&D Strategy","query":"What specific technological advancements or market opportunities is Paradise Entertainment targeting with its increased R&D investment in Electronic Gaming Equipment and Systems, particularly for global market penetration and competitive differentiation?"},{"label":"Post-Waldo Operational Impact","query":"How does the withdrawal from Casino Waldo management align with Paradise Entertainment's broader strategic objectives for its casino management services segment, and what are the projected financial impacts of this divestment on future GGR and NGR contributions?"}],"footnotes":""},"categories":[16338,163],"tags":[512,23722],"class_list":["post-22060","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/22060","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=22060"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22060\/revisions"}],"predecessor-version":[{"id":22087,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22060\/revisions\/22087"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22061"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}