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Paradise sees Macau EGM sales slow in 1Q19

Newsdesk by Newsdesk
Fri 17 May 2019 at 06:10
Macau’s Paradise expecting revenue surge in 2H18

Casino Kam Pek Paradise

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Slower sales of electronic gaming equipment saw Macau-based Paradise Entertainment Ltd suffer a 6.3% year-on-year decline in revenue and 39.4% fall in Adjusted EBITDA for the three months to 31 March 2019.

Paradise reported revenue of HK$288.9 million for the period, with just HK$30.6 million coming from EGMs compared with HK$50.8 million in the prior year period. As a result, segment Adjusted EBITDA fell from a profit of HK$13.8 million to a loss of HK$4.0 million.

Paradise had previously benefited from the installation of terminals at MGM Cotai ahead of its opening in the first quarter of 2018.

Revenue from the two casinos Paradise operates – Waldo and Kam Pek Paradise – climbed ever so slightly in 1Q19 to HK$258.3 million with Adjusted EBITDA at HK$42.3 million.

Waldo was the standout performer in terms of growth, where GGR climbed 18.8% to HK$131.6 million, while Kam Pek Paradise fell 5.5% to HK$334.9 million.

 

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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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