Paradise Entertainment revenue up 15.2% in H1 2018

Paradise Entertainment Limited posted a revenue of HK$563.9 million ($71.8 million) for the first half of 2018, up 15.2% from the same period last year.

The Hong Kong-based casino and gaming systems provider, in its press release, highlighted the performance of its electronic gaming equipment and systems, which saw revenue of HK$54.7 million ($7 million), up 102.6% from January to June 2017. The company said its strong sales here was “mainly driven by the Group’s deployment of a total of 217 live multigame terminals and other accessories like X-Stadium at MGM Cotai upon its opening on 13 February 2018.”

Revenue from casinos under the group’s management was up 10.1%, to HK$509.2 million ($64.9 million), while adjusted earnings before interest, depreciation, and amortization stood at HK$59.7 million ($7.6 million), up from HK$0.9 million ($115,000) in the same period last year.

Net profit was at HK$26.3 million ($3.4 million), after a net loss of HK$35.3 million ($4.5 million) in the first half of 2017, according to the company.