Paradise Entertainment’s Q1 revenue down 9.8 percent

Hong Kong-listed gaming device maker Paradise Entertainment Ltd. saw its total revenue drop by 9.8 percent on weak sales.

In a filing before the Hong Kong bourse, Paradise Ent announced that its total revenue for the reporting period dropped to HKD235.3 million (US$30.21 million).

The game technology provider reported a HKD10.1 million (US$1.3 million) earnings before interest, taxation, depreciation and amortization (EBITDA) loss for the first quarter of 2017. The firm’s EBITDA during the same period last year was at HKD700,000 (US$89,884).

Paradise further broke down the data by saying that the provision of casino management service was down 4.0 percent year-on-year to HKD186.5 million (US$23.95 million). The segment contributes 79.3 percent of the total revenue for the period.