a loss of just above HK$86.1m in 2021<\/a>.<\/p>\n\n\n\nRevenue was down 39.7 per cent <\/strong>year-on-year to HK$297.8m. Casino Kam Pek Paradise’s adjusted EBITDA from operations was a negative HK$38m, a sharp contrast to the positive adjusted EBITDA of HK$42.3m reported in 2021. The company attributed the decline primarily to a decrease in gross gaming revenue. Revenue from casino operations<\/strong> amounted to HK$266.9m, compared to HK$415.7m in 2021.<\/p>\n\n\n\nThe electronic gaming equipment and systems segment’s adjusted EBITDA was negative, HK$53.6m, also a significant drop from the HK$21.2m loss recorded in 2021. The firm said the segment’s performance was negatively affected by a decrease in revenue from upgrading services provided to Live Multi Game (LMG) terminals in the Macau market. Revenue from the electronic gaming equipment <\/strong>and systems segment was HK$30.9m, compared to HK$78.4m in the prior year.<\/p>\n\n\n\nDr. Jay Chun<\/strong>, co-chairman and managing director of Paradise, stated: \u201cThe Covid-19 pandemic and other uncertain external factors including geopolitical tensions, global surging inflation and interest rate hike, etc. remain a continuing challenge to the gaming and entertainment industry and other business sectors in 2022.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"Paradise Entertainment saw its loss attributable to owners increase by 79.5 per cent.<\/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 reported a net loss of HK$154.6m for FY2022, an increase of 79.5% year-on-year, with revenue declining by 39.7%. This downturn was primarily driven by reduced Gross Gaming Revenue from its casino operations in Macau and a negative performance in its electronic gaming equipment segment, exacerbated by the lingering impact of the COVID-19 pandemic and broader macroeconomic headwinds.","focusai_entities":"Paradise Entertainment, Casino Kam Pek Paradise, Dr. Jay Chun","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Outlook","query":"What is Paradise Entertainment's projected GGR recovery trajectory for 2023, considering the recent easing of travel restrictions in Macau?"},{"label":"Diversification Strategy","query":"How does Paradise Entertainment plan to mitigate future GGR volatility through diversification of its gaming verticals or geographical expansion beyond Macau?"}],"footnotes":""},"categories":[16338,163],"tags":[23722],"class_list":["post-777003807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-paradise-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003807","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=777003807"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003807\/revisions"}],"predecessor-version":[{"id":777003842,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003807\/revisions\/777003842"}],"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=777003807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}