Jay Chun, the chairman and managing director of Paradise Entertainment Ltd, recently made strategic moves to increase his influence within the company. Over the course of just three days, Chun invested approximately HKD323,880 (equivalent to US$41,263) into acquiring 356,000 shares of Paradise Entertainment. This decision followed a steep decline in the company's stock value, triggered by an announcement on June 9 regarding the impending closure of all satellite gaming operations in Macau by the end of the year.
Investments Amidst Market Turbulence
Paradise Entertainment, renowned for its casino management and gaming equipment provision, operates the satellite gaming venue Casino Kam Pek Paradise located in downtown Macau. In the wake of market turbulence, the company temporarily halted its share trading on June 9, shortly before the Macau government's official statement about the status of Macau's 11 satellite casinos. Trading resumed the following morning on June 10.
That day marked the beginning of Jay Chun's efforts to strengthen his hold on the company. Starting with an initial purchase of 288,000 shares at an average price of HKD0.87 per share on June 10, Chun followed up with a second acquisition of 68,000 shares at an average of HKD0.99 per share on June 12. This increased his ownership from 59.96 percent to exactly 60 percent, marking a significant personal investment during a period of volatility.
Market Reactions and Future Outlook
The impact of these corporate movements mirrored the volatility in the company's market performance. On June 9, preceding the trading halt, Paradise Entertainment’s stock price opened at HKD1.83 but experienced a decline. On June 10, its lowest recorded value was HKD0.65, before slightly rebounding to close at HKD0.88. By June 12, the stock had a modest recovery, closing at HKD1.00. However, by the end of the trading day on June 13, it settled at HKD0.95. Casino Kam Pek Paradise, aligned with the gaming rights of SJM Holdings Ltd., represents one of the nine satellite casinos in Macau facing closure.
In addition to its casino operations, Paradise Entertainment is also recognized for its LT Game brand, which specializes in casino equipment supply. Despite the challenges posed by policy changes in Macau's gaming landscape, Jay Chun’s reinvigoration of his stakes could be viewed as an assertion of confidence in the company's resilience and its future potential.
Source: Jay Chun ups Paradise Ent stake amid share plunge as Macau ditches satellite casinos, GGRAsia, June 13, 2025.
Posted by Wizard
Jun 17 2025
Jun 17 2025
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