Paradise Entertainment offering new share award to employees

Paradise Entertainment Group announced on November 11 a new share award system for employees. The Macau-based casino opted to make the move as a plan to develop a greater level of success amongst its workforce.

The new plan was announced shortly after the company released its third-quarter results for 2019. Paradise reported a 9.5% decrease in their total gaming revenue from operations under its management for the third quarter. The total dropped to HK$443.5 million, which included a 26.5% decrease in the gaming table revenue at Casino Kam Pek Paradise.

Despite the fact that the number of tables in operation at the Kam Pek Casino remained the same during the third quarter, the net win per table per day total fell from HK$56,800 ($7,260) to HK$41,800 ($5,340). That was more than enough to set the company back despite a slight increase in the GGR from Live Multigame (LMG) terminals to HK$141.4 million ($18.1 million). The total GGR at the Kam Pek facility fell by 14.8% to a total of HK$356.5 million ($45.6 million).

The news was not all bad. The Casino Waldo saw a modest increase of 4.6% in the GGR to HK$39.8 million ($5.1 million). This came as a result of the increase in LMG terminal revenue to a total of HK$38.3 million ($4.9 million). The gaming revenue remained about the same at HK$99.2 million ($12.7 million) while the slot machine revenue increased by a modest HK$2.3 million ($290,000).