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Paradise Ent swings to profit in 18H1

Paradise Entertainment Limited swung to a profit of HK$26.3 million (US$3.4 million) in 18H1, due mainly to a boost in revenue.

Said revenue was HK$563.9 million in 18H1, up 15.2 percent year-on-year, while adjusted EBITDA for the six months was HK$59.7 million, up from HK$0.9 million recorded in the prior-year period.

Paradise said this was due mainly to an increase in GGR from the casinos under the group’s management and an increase in revenue from the sale of electronic equipment and systems, which led to an increase in revenue from its casino management services business.

Casinos under the group’s management include Casino Kam Pek Paradise and Casino Waldo.

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