Revenue of Macau-based gambling operator Paradise Entertainment Ltd. jumped 31.1 percent in the first three months of 2018 on the back of growing demand for electronic gaming equipment.

In a disclosure to the Hong Kong Stock Exchange, Paradise reported revenues of HKD308.4 million (US$39.28 million) in the first three months of 2018, up from HKD235.3 million (US$29.97 million) reported in the same period last year.

Paradise also saw its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rebound in the first quarter of the year to HKD51.8 million (US$6.6 million) from a loss of HKD10.1 million (US$1.29 million) during the same period last year.

Its casino management business remains the most lucrative and biggest contributor in the company’s revenue. Data shows that revenue from casinos under the Paradise’s management in Q1 2018 was HKD257.6 million (US$32.81 million), up 19 percent from HKD216.5 million (US$27.57 million) in Q1 2017.