Paradise sees Macau EGM sales slow in 1Q19

first_img RGB expecting strong 2019 despite second quarter revenue, profit decline Load More Slower sales of electronic gaming equipment saw Macau-based Paradise Entertainment Ltd suffer a 6.3% year-on-year decline in revenue and 39.4% fall in Adjusted EBITDA for the three months to 31 March 2019.Paradise reported revenue of HK$288.9 million for the period, with just HK$30.6 million coming from EGMs compared with HK$50.8 million in the prior year period. As a result, segment Adjusted EBITDA fell from a profit of HK$13.8 million to a loss of HK$4.0 million. RelatedPosts JW Marriott at Galaxy Macau named venue and Galaxy Entertainment Group named Venue Sponsor for 2019 Asian Gaming Power 50 Black Tie Gala Dinner South Korea’s foreigner-only casinos see revenues grow in August Paradise had previously benefited from the installation of terminals at MGM Cotai ahead of its opening in the first quarter of 2018.Revenue from the two casinos Paradise operates – Waldo and Kam Pek Paradise – climbed ever so slightly in 1Q19 to HK$258.3 million with Adjusted EBITDA at HK$42.3 million.Waldo was the standout performer in terms of growth, where GGR climbed 18.8% to HK$131.6 million, while Kam Pek Paradise fell 5.5% to HK$334.9 million.last_img read more