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Gaming systems segment sees Paradise Entertainment suffer 3Q17 decline

Tuesday, 14 November 2017 04:32
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Macau-based casino operator and gaming supplier Paradise Entertainment saw its revenue decline 24.1% to HK$267.3 million for the three months to 30 September 2017 due to a substantial fall in the gaming systems segment.

Reported revenue from the segment in 3Q17 was HK$41.6 million, representing a 67% year-on-year decrease from HK$126.1 million in the prior year period, with segment revenue for the first nine months of the year down 45.8% to HK$131.8 million.

The company’s casino management services segment held steady, falling 0.1% to HK$226 million for the quarter and 0.6% to HK$624.8 million year to date, while Casino Kam Pek Paradise suffered a minor 2.1% decline with revenue of HK$336.1 million in 3Q17. For the first nine months of 2017 its GGR has fallen 1.8% to HK$923.8 million.

The news has been better out of Casino Waldo where gaming operations increased 11.7% for the quarter and 6.7% for the year to HK$138.6 million and HK$387.6 million respectively.

Adjusted EBITDA from the casino management services segment in 3Q17 was HK$37.9 million, representing an increase of 152.7% from HK$15 million 12 months earlier, while Adjusted EBITDA from the gaming systems segment fell 78.1% to HK$17 from HK$77.5 million in 3Q16.

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