Paradise Entertainment inks Macau IP deal with Interblock

first_img Caesars pulls out of Japan IR race  Load More Macau’s Paradise Entertainment Limited has entered into a licensing agreement that will see it license the rights of certain intellectual property of non-live multi-game in Macau to global automated gaming table supplier Interblock.Under the terms of the license agreement, Paradise – which supplies the popular live multi-game systems to Macau’s casinos – has granted Interblock the non-exclusive rights of the relevant IP in Macau. Seventh heaven RelatedPosts Aristocrat wins battle over intellectual property rights with US$3 million settlement “Interblock is a leading developer and supplier of multi-player gaming devices in the United States, Canada, Asia, Australia and Europe,” said Paradise Chairman and Managing Director Jay Chun. “Leveraging Interblock’s extensive sales and distribution network, proven track record and commercialization expertise, we are confident that our cooperation will significantly boost the sales of licensed gaming machines and accelerate the penetration of non-live multi-game in Macau.“We look forward to deepening collaboration with Interblock by exploring our other gaming products such as slot machines and other upcoming products with an aim to further enlarge our market share in the electronic gaming equipment market.”Interblock’s Vice President Asia, Michael Hu, added, “We are excited to join hands with Paradise. Obtaining the intellectual property rights of non-live licensed gaming machines in Macau not only cements our leading market position but also paves our way to access to the Macau market. As always, we strive to improve the entertainment experience for the goal of achieving strategic breakthroughs in development.”Paradise recently issued a positive profit alert for the six months ended 30 June 2018, stating that it expects to record a profit for the period compared with a HK$35 million loss in the first six months of 2017.The company said the anticipated positive results are due to “an increase of approximately 10% in the group’s revenue from provision of casino management services as a result of an increase of approximately 10% in total gross gaming revenue from the casinos under the group’s management” as well as “an increase of approximately 160% in the group’s revenue from sale of electronic gaming equipment and systems.”Inside Asian Gaming reported in April that Paradise had already deployed 364 new Live Multi Game (LMG) terminals to the city’s casinos in the first few months of 2018 – almost five times the number of terminals it deployed through all of 2017.last_img read more