Paradise Ent posts 1.9 pct increase in profit in 18Q3

HK-listed Paradise Entertainment posted a small increase in revenue in 18Q3, due mainly to stronger gaming performance from Casino Kam Pek Paradise.

The company has two casinos under its management in Macau and also is engaged in the provision of electronic gaming equipment and systems.

Total revenue in the quarter reached HK$272.3 million (US$34.8 million), an increase of 1.9 percent year-on-year, driven by a 3.1 percent increase in revenue from casinos under the group’s management.

While Casino Kam Pek Paradise saw a 6.1 percent increase in total GGR from gaming operations, its Casino Waldo property saw GGR falling 3.5 percent year-on-year to HK$133.7 million.

At the same time, reported revenue from its electronic gaming equipment and systems division also fell in the quarter, down 62.7 percent to HK$1.9 million.

Adjusted EBITDA fell 57.3 percent to HK$19.7 million.