Paradise Entertainment Limited reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of HKD19.7 million ($2.5 million) in the third quarter, 57.3% lower than the same period last year.

In a filing with the Hong Kong Stock Exchange, the company said that the earnings from casinos under its management amounted to HKD50.3 million ($6.42 million), down 31.1% from the same period last year. It posted a loss of HKD23.4 million ($3 million) for its electronic gaming equipment and systems operations, larger than the HKD17.9 million ($2.3 million) loss during the third quarter of the previous year.

For the first nine months of 2018, however, adjusted EBITDA was up 68.9%, to HKD79.4 million ($10.1 million). Casinos managed by the group had an adjusted EBITDA of HKD128.8 million ($16.4 million), 26.8% higher year on year. The loss for electronic gaming from January to September was HKD27.8 million ($3.6 million), slightly less than the loss during the same period in 2017, of HKD28.8 million ($3.7 million).

Revenue for the third quarter was HKD272.3 million ($34.8 million), 1.9% higher than the corresponding period in 2017. Revenue from casinos was HKD270.4 million ($34.5 million), up 3.1% year on year. For electronic gaming, only HKD1.9 million ($243,000) was reported, but Paradise Entertainment said this did not include revenue derived from LMG Terminals deployed in the casinos it manages, which brought in HKD36.9 million ($4.7 million) for the third quarter, and HKD112 million ($14.3 million) for the first three quarters.