\u00a0casino operations<\/strong>\u00a0amounted to HK$564.8m, up 111.6 per cent in year-on-year terms.<\/p>\n\n\n\nThe Casino Kam Pek Paradise generated a profit of HK$162.8m (US$20.8m), compared to a loss of HK$38m (US$4.8m) in the previous year.\u00a0The electronic gaming equipment and systems segment also showed improvement, with a reduced loss of HK$14.8m (US$1.8m) compared to HK$53.6m (US$6.8m).<\/p>\n\n\n\n
The company reported that the electronic gaming equipment and systems segment saw an increase in sales and leasing and a decrease in research and development costs, which included relocating certain activities from overseas offices to Macau and mainland China.\u00a0However, Paradise Entertainment also reported a decrease in revenue from the sale and leasing of electronic gaming equipment and systems in overseas markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Revenue was HK$634.3m (US$81m), up 113 per cent when compared to last year.<\/p>\n","protected":false},"author":176,"featured_media":16718,"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 113% year-on-year revenue increase to HK$634.3m (US$81m) for 2023, achieving HK$133.6m in adjusted EBITDA and a profit of HK$65.8m. This growth was primarily driven by robust casino management services in Macau and improved electronic gaming equipment sales, alongside contributions from a new renewable energy business.","focusai_entities":"Paradise Entertainment, Casino Kam Pek Paradise","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), tech_data (0.75), investor_analyst (0.98), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Sustainability?","query":"What specific market conditions or regulatory shifts in Macau contributed to the 111.6% increase in casino operations revenue, and how sustainable is this growth trajectory amidst evolving governance frameworks?"},{"label":"Renewable Energy ROI?","query":"How does the diversification into innovative and renewable energy solutions align with Paradise Entertainment's core iGaming strategy, and what is the projected ROI and market share for this new vertical?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,23722],"class_list":["post-777014288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-paradise-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014288","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=777014288"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014288\/revisions"}],"predecessor-version":[{"id":777014303,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014288\/revisions\/777014303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16718"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}