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Last year, the supplier of electronic game gear Paradise Entertainment reported a loss of $ 4.4 million for the first half of the year. However, things seem to be reversing this year as the company has announced that it expects its turnover to be positive for the first six months of 2018. The gains would come from of a 10% increase in revenue from its Paradise Entertainment casino expects positive gains for the first half of 2018 "width =" 500 "height =" 282 "srcset =" https: // 31 .cdn.bit2host.eu / wp-content / uploads / 2018/07 / paradise-entertainment-expects-positive-gains-first-half-2018.jpg 500w, https://31.cdn.bit2host.eu/wp- content / uploads / 2018/07 / paradise-entertainment-expects-positive-gains-first-half-2018-300×169.jpg 300w "sizes =" (max-width: 500px) 100vw, 500px "/> For his report of the first This year's quarter, Hong Kong-listed paradise has indicated that its turnover has increased by 160% over last year .Revenue increased by 31.1% year-over-year to reach $ 39.28 million. gaming equipment grew 170.2% over the same period last year, which represents $ 6.47 million. This is a substantial increase over the $ 2.39 million for the first quarter of last year.
The increase in sales propelled the company into the purchase of a warehouse in Macau. The purchase is estimated at around $ 16 million, with the total amount paid on October 15 of this year.
Through its subsidiary LT Game, Paradise provides electronic gaming equipment to casinos in Macao, as well as in other countries. It also operates casinos in satellite properties in Macau through licenses held by other operators. It operates Kam Pek Paradise Casino under the license of SJM Holdings and Waldo Casino through a partnership with Galaxy Entertainment.
Once Macau has reviewed its casino licensing procedures that should be completed by the end of the year, Paradise will consider bidding on a new license if the company like what she sees, and if additional licenses are available. Currently, there are only six licenses offered in the city, but some industry analysts have suggested that a seventh or even an eighth license could be added.
It's been several years since most licenses will not be available. will expire in 2022. Two licenses, those of MGM and SJM, will expire in 2020, but many expect companies to receive extensions to put the six licenses online in 2020.
Paradise is also planning an expansion of casino operations outside of Macau. Bob Shen, the company's investor relations manager, said the company would consider a joint venture opportunity or even a company that would only provide equipment and gaming machines, according to what was most advantageous for the company
