A 2022 decision by Paradise Entertainment Ltd. to install co-board chairs is part of a larger diversification that will include “green” businesses, reports GGRAsia.
In an interview with the news outlet, Paradise Chairman Jay Chun said his new co-chair, Zhang Jianjun, “has the experience and know-how for investing in green projects,” specifically, “smart-charging” electric vehicles.
Paradise Chief Financial Officer Leo Chan Kin Man said the smart-car sector is getting crowded in Mainland China, but still has “great potential.”
“This has no direct relationship with gaming business,” Chan noted. “But both segments… involve the exploration of information and technological elements, which aligns to our company’s interests.”
In an April filing, Paradise stated that entry into China’s smart-charging market would help “diversify its income stream and potentially enhance its financial performance.”
The Hong Kong-listed company also has a Macau satellite casino business through a service agreement with SJM Holdings Ltd. It runs Casino Kam Pek Paradise in downtown Macau. As Macau continues to pivot “from the traditionally dominant gaming sector,” Chun said, “that is also what our company has been doing.”
