Paradise's financial report shows a dramatic improvement, according to gambling analysts. The first quarter ended with a $ 7 million profit. A similar report last year recorded $ 1.3 million in losses. Having made things better, the casino equipment supplier acquired a warehouse in Macau.
Commenting on the financial report, the management of Paradise said that the main factor of success is the rapid increase in the sale of equipment demanded by casinos. Selling systems is in second place.
However, the report recorded dynamic financial returns from casinos controlled by Paradise itself. Thus, Kam Pek, operating in Macau, added 29% on the “profit” line. True, the depressing figures were brought by the statistics of the Waldo casino - operating revenue, having lost 3%, slipped to 14 million.
Analysts supplying information to journalists noted that the best indicator of Paradise's success is the Macau Warehouse contract. The casino equipment manufacturer has been burdened by renting a local warehouse. Management decided to acquire a 33,000 square foot warehouse complex. The financial mass of the agreement is $ 16 million. The seller is not listed.
Paradise, remind editions, acts as a supplier of gaming equipment. The main customers are casinos in Macau and other regions. Sales are handled by the structural division of LT Game. Paradise also has its own casinos. All are patronized by local operators. The acquired warehouse complex will reduce the costs of storing slot machines, spare parts and components.
Ivanov Harlam | Last update: 21.06.2018
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