JasonTong_Paradise1.14Jason Tong, investor relations manager of Paradise Entertainment. Photo: Aries ConsultingPARADISE ENTERTAINMENT LTD (HK: 1180)
is confidently wagering that the growth of the gambling industry in nearby Macau as well as growing sales to casinos abroad, including Las Vegas, will drive the Hong Kong-listed casino manager and gaming equipment supplier’s business.

Paradise Entertainment Investor Relations Officer Mr. Jason Tong said having its two flagship subsidiaries – LT (Macau) Ltd and LT Game Ltd – located in the Asian gambling mecca of Macau gave Paradise a catbird seat at the high stakes gaming industry table.

“Macau is the only Chinese city that allows gambling and the group believes the number of tourists visiting Macau will see a sustainable increase," he said on January 10 in Shenzhen at the Aries Consulting-organized “3rd Scaling New Heights – Asia Investment Forum 2014.”

“Together with the growth momentum in the gross revenue of gaming equipment suppliers in the US, the gaming industry is expected to maintain a growth trend. Based on the above factors, Paradise Entertainment remains confident on gaming industry prospects and expects to see remarkable business growth.”


He said LT (Macau) Ltd and LT Game Ltd
 are established players in Macau’s gaming industry, as well as the firm’s flagship casino.

Back in 2007, Paradise Entertainment as LT Macau cooperated with Socideade De Jogos De Macau, S.A. (SJM), a gaming concessionaire, in opening Casino Kam Pek Paradise, which features live table games and electronic gaming systems with live dealers.

Players bet on multiple games such as baccarat, roulette, and sicbo simultaneously while being at the same betting terminal, which Paradise management believes brings a new dynamic and convenient way of gaming to players and the entertainment industry of Macau.

kampekparadise1.14Casino Kam Pek Paradise in Macau opened in 2007.
Photo: http: wizardofmacau.com
Located in the heart of the Macau Peninsula, its Casino Kam Pek Paradise has over 200,000 square feet of gaming space, 37 gaming tables, over 800 Live Multi Game (LMG) Machines and in excess of 300 slot machines.

He added that LT Game Ltd is cashing in on its status as the Asia Pacific’s top gaming machine and equipment supplier.

“Our innovative gaming products include Live Multi Game Machines which have a live dealer, and are able to support
multiple tables with a terminal-based multi-game selection system as well as our Paradise Jackpot System -- a Baccarat Side-Bet Progressive Jackpot.

“Both have been patented in Macau and the US.”

In Macau, LT Game has already launched 2,900 Live Multi Game Machines which are now offered in major casinos including The Venetian Macao, Sands Macao, Wynn Macao (of Steve Wynn fame), Galaxy Macao, Hard Rock, City of Dreams, Casino Lisboa (of Stanley Ho fame) and SJM’s casino.

US Gaming -- Far Larger than Macau's

With its stellar growth in Macau, LT Game is now looking further afield, especially the US market.

The
firm is seeing strong interest and demand for its LMG terminals from US casino properties.

“In order to further penetrate the US market where the number of casinos, demand for electronic gaming machines and the market for the gaming industry are larger than in Macau, we completed the acquisition of patents and patent applications for a US betting terminal in June 2013 and completed capital reorganization activities,” Mr. Tong said.

He added that Paradise’s directors believe the transaction will allow the company to open up the US market and enlarge the firm’s income base.


paradise.entertain.chart1.14Shares of Paradise Entertainment have sprung to life in the last six months. They were down 52% in 2011, shot up 50% in 2012 and became a 5-bagger in 2013. The stock recently traded at a trailing PE of 15.5X, which valued the business at HK$5.5 billion.
After 3 consecutive years of losses, Paradise eked out HK$36 m in profit in 2011 and then HK$127 m in 2012. Chart: FT.com


Paradise Entertainment recently announced
that LT Game Ltd had launched its first deployment of patented LMG terminals into the US, with the first batch of 24 LMG terminals having gone live inside the Palazzo Casino in Las Vegas on November 22.

Paradise Entertainment Chairman and CEO Mr. Jay Chun said at the time of the landmark order: "We are extremely excited about our inaugural machine sales installation into the Palazzo Casino in Vegas.

“We are confident that our patented LMG terminals represent a huge opportunity for US-based casinos to see tremendous supplemental revenue growth and organic demand from a new as well as under-served player base.”


See also:

SUMMIT ASCENT Approves Russian Casino


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