Paradise Entertainment sees loss in 1H23 despite EBITDA returning to black

Paradise Entertainment has recorded a loss of HK$3 million ($382,000) for the first six months of the year, despite EBITDA turning positive.

EBITDA saw a turnaround in 1H23 to HK$31 million ($3.95 million), compared with a loss of HK$64.4 million ($8.2 million) for 1H22.
Total revenue was HK$246.7 million ($31.4 million), up by 36.2 percent from a year earlier.
The increase in the total reported revenue of the Group was mainly due to the rise in revenue from the provision of casino management services in Macau.
Adjusted EBITDA from the casino under the Group’s management in the Macau segment for 1H23 was HK$55.8 million, compared with a loss of HK$23.3 million for 1H22. The turnaround from loss to gain was mainly due to the increase in GGR generated by Casino Kam Pek Paradise in Macau.
Adjusted EBITDA from the electronic gaming equipment and systems segment in 1H23 narrowed to a loss of HK$17.5 million. The decrease in the segment was mainly due to the Group’s effective cost-saving strategy implemented in response to COVID-19 and, precisely, the success in cost control related to research and development and other expenses associated with electronic gaming equipment and systems.

EBITDA Financial results Latest news Macau recovery Paradise Entertainment Kam Pek Paradise

Accelerating currency drop of renminbi pressures Macau tourism market
_2025-01-07UN report reveals growing presence of organized crime in pacific islands casino projects
_2025-01-06Macau GGR to grow 8% in 2025, backed by increasing travel spending: Goldman Sachs
_2025-01-03The overnight disappearance of 8XBet: a brand shrouded in controversy
_2025-01-02Macau’s gaming industry on track for strong 2025 kickoff: Citigroup
_2025-01-02China's president urges Macau to continue diversification drive away from gaming
_2024-12-20

Open in new window
View settings