HK Stock Market Move | PARADISE ENT (01180) rose by over 9%, with expected net profit to increase by 382 million Hong Kong dollars compared to the previous year.

PARADISE ENT (01180) surged over 9%, reaching 9.09% as of the time of publication, with the price at 2.64 Hong Kong dollars and a trading volume of 7.3527 million Hong Kong dollars. On the news front, PARADISE ENT recently announced a profit forecast, expecting to achieve a profit of 381.9 million Hong Kong dollars for the year ending December 31, 2024, compared to a profit of 60.9 million Hong Kong dollars in the same period last year. The announcement stated that the increase in profit was mainly due to the increasing popularity of live hybrid gaming machines at the Golden Pavilion Casino, as well as the continuous increase in the number of casino customers, driving an increase in gambling revenue at the Golden Pavilion Casino, resulting in an increase in revenue from Macau casino management services by 154 million Hong Kong dollars or 27.2%. Additionally, the demand and popularity of live hybrid gaming machines and related products in Macau last year increased compared to the previous period, driving an increase in revenue from the sale and leasing of electronic gaming equipment and systems by 309 million Hong Kong dollars or 543.1% for the group.