Paradise Entertainment said it could slip into red for 2015

Gaming equipment maker Paradise Entertainment Ltd has warned that the company is likely to record a loss for the financial year ending December 31, 2015 due to a decrease in gross gaming revenue derived from its casino management business, as well as higher operating expenses, especially on labour.
The company has indicated this in a profit warning notice filed to the Hong Kong stock exchange last week.
Apart from manufacturing and selling electronic gaming machines under the brand of LT Game, Paradise Entertainment also provided gaming management services at Casino Kam Pek Paradise, Casino Waldo, Casino Macau Jockey Club and a multi-live table game area in Casino Lisboa.
For the first half of 2015, Paradise Entertainment has made a net loss of nearly HK$23.9 million (US$3.08 million). The company has already seen its profit slide by 35.9 percent year-on-year to HK$66.54 million in the financial year of 2014.
In its latest filing to the bourse last week, Paradise Entertainment said it would optimise its cost structure to “remain lean” in Macau. The company also expected to ramp-up its overseas gaming system market with machine installations this year.