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Paradise Entertainment swung to a HKD82.6 million ($10.5 million) loss in the first half of 2026 as electronic gaming equipment sales fell sharply and Casino Kam Pek Paradise no longer contributed revenue.
Revenue from continuing operations dropped 67.1% to HKD41.3 million, while adjusted EBITDA went from a HKD41.3 million profit a year earlier to a HKD74.4 million loss.
Good to Know
- Paradise Entertainment reported a HKD82.6 million first half loss.
- Gaming equipment and systems revenue fell 74.2% to HKD32.3 million.
- LT Game expects its new Black Coral platform to receive regulatory approval in the second half of 2026.
Equipment Sales Fall Ahead Of Black Coral Launch
The largest decline came from LT Game, the Macau electronic gaming equipment business owned by Paradise Entertainment.
Revenue from equipment sales and leasing fell 74.2% to HKD32.3 million. Macau revenue in the segment dropped 75.8% to HKD30.3 million, while outright gaming machine sales fell from HKD77 million to only HKD3.1 million.
Paradise Entertainment said some casino customers may have delayed purchases while waiting for Black Coral, the next generation version of its live multi game platform.
The company expects regulatory approval and a commercial launch during the second half of 2026. Black Coral could then support new installations and upgrades at existing casino properties.
Higher research and development spending also weighed on the equipment division, which recorded a HKD54 million adjusted EBITDA loss. A year earlier, the segment generated positive adjusted EBITDA of HKD48.8 million.
Kam Pek Exit Changes Revenue Base
The year over year comparison also reflects the end of Paradise Entertainment involvement in Casino Kam Pek Paradise.
The company stopped providing casino management services there on December 2, 2025. That discontinued operation had produced HKD382.6 million in revenue and HKD148.8 million in profit during the first half of 2025.
Paradise Entertainment now provides advisory and other professional services to a casino operated by a Macau concessionaire. The replacement business generated HKD9 million in first half revenue and an adjusted EBITDA loss of HKD6.1 million.
Loss attributable to shareholders reached HKD71.8 million, compared with a HKD172.5 million profit a year earlier. No interim dividend was declared.
The final result came close to earlier company guidance, which had indicated an expected first half loss of around HKD85 million. Paradise Entertainment published the interim results on August 27.
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