Macau’s Paradise Entertainment Ltd has issued a positive profit alert for the year ended 31 December 2024, with the company expecting to report a full-year profit of HK$381.9 million (US$47.7 million).
In a filing, Paradise said the improved result – up from HK$60.9 million a year earlier (US$7.6 million) – was in part due to an increase of 27.2% in the group’s revenue from the provision of casino management services at Casino Kam Pek Paradise, where gross gaming revenues showed considerable growth.
However, of greater significance was a 543.1% increase in revenue from the same and leasing of electronic gaming equipment and systems, especially Live Multi-Game (LMG) terminals and related products deployed to key casino operators in Macau following an increase in demand.
This increase in demand for LMGs was also behind the increase in GGR at Casino Kam Pek Paradise, the company explained.
Paradise added that the expansion of the Individual Visit Scheme, combined with the efforts of the Macau government in international events and the solid recovery of the gaming industry had contributed to a sustained influx of visitors from Mainland China to Macau in 2024.
The company’s final results for FY24 are due to be released by the end of March.
