HK Stock Market Move | PARADISE ENT(01180) rose over 9% after the announcement, with the expected net profit for 2024 increasing to 3.819 billion HK dollars.

PARADISE ENT (01180) rose more than 9% after gaining joy, as of the press deadline, up 9.3% to HK$2.35, with a turnover of HK$5,443.4 million. On the news front, on March 5, PARADISE ENT announced that the group expects to achieve a surplus of HK$381.9 million for the year ending December 31, 2024, compared to HK$60.9 million for the year ending December 31, 2023. The announcement stated that the increase in surplus during the reporting period was mainly attributed to: the increasing popularity of the live hybrid gaming machines set up in the Grand Waldo Harbourside Entertainment Complex (the entertainment complex managed by the group in Macau, China), coupled with the increasing number of customers at the entertainment complex, resulting in an increase in gaming revenue generated by the Grand Waldo Harbourside Entertainment Complex, thereby increasing the income from casino management services in Macau by HK$1.535 billion, or 27.2%; the demand for live hybrid gaming machines and related products in Macau, China during the reporting period increased compared to the previous period, driving the income from the sale and/or leasing of electronic gaming equipment and systems (especially those supplied to major casino operators in Macau) by HK$3.085 billion, or 543.1%. During the reporting period, as the individual travel plan expanded, coupled with the successful hosting of various international events and diversified commercial activities and exhibitions by the Macau government, and the steady recovery of the gaming industry, there was a constant stream of visitors from mainland China to Macau. Benefitting from the increasing number of visitors to Macau during the reporting period, the number of customers at the Grand Waldo Harbourside Entertainment Complex continued to rise, and the attractiveness of the electronic gaming equipment and systems supplied by the group (including live hybrid gaming machines and related products) to Macau casino operators also increased day by day, injecting endless energy into the group's business in Macau.