Paradise Entertainment enlists new investor

Paradise Entertainment Ltd., which supplies gambling machines and operates the Casino Kam Pek Paradise, agreed to sell investor Chang Wang HK$60.5 million ($7.8 million) in stock warrants that could potentially make him the company’s second biggest shareholder. The 45.5 million warrants, to be sold at an issue price of 3 Hong Kong cents each, would give Chang the right to buy a new share for HK$1.30 a piece, equating to a 4.74 percent stake in the company if fully exercised.