Paradise Entertainment, a leading provider of casino management services and electronic gaming equipment, has announced its financial results for the year ended December 31st, 2024.
The company reported a significant increase in revenue, achieving HK$1.08bn, a 71% rise compared to the previous year. Net profit attributable to shareholders surged to HK$361.1m, marking a substantial improvement.
In light of these strong financial results, Paradise has proposed a final dividend of HK11.0c per share, amounting to HK$115.7m in total. This proposal is subject to shareholder approval at the upcoming AGM, scheduled for May 27th. If approved, the dividend will be payable on June 25th.
The company also announced a significant leadership restructuring. Effective March 27th, Dr. Jay Chun has been re-designated from Co-Chairman to sole Chairman of the Board, following the resignation of Mr. Zhang Jianjun as Executive Director and Co-Chairman to focus on personal commitments. Dr. Chun will continue to serve as Managing Director, overseeing the strategic direction and operations of the Group.
Dr. Jay Chun says: “Despite the challenging global economic and geopolitical environment, Macau has successfully capitalised on its rich heritage as a premier destination for gaming and entertainment.”
He attributed the growth to increased visitation from mainland China and the hosting of high-profile international events in Macau.
Paradise Entertainment continues to strengthen its position, with plans to open a new office and showroom in Manila, Philippines, later this year.
