Local electronic gaming equipment (EGE) supplier Asia Pioneer Entertainment Holdings (APE) reported a 182.5 per cent year-on-year increase in revenue for 2023, reaching approximately HKD29.7 million (US$3.8 million).
APE mainly engages in sales and distribution of electronic slot machines and table games to land-based casinos in Macau, and provides repair services for casino operators, alongside consultancy and technical services.
Revenue from the technical sales and distribution of EGE was around HKD14 million, marking an increase of 129.9 per cent from HKD6.1 million in 2022.
The group generated revenue of HKD11.8 million from consultancy and technical services, while revenue from repair services reached HKD1.6 million in 2023.
According to a stock filing to Hong Kong’s exchange on Tuesday, APE reported a gross profit of HKD10.9 million in 2023, reversing the HKD100,000 loss recorded in 2022.
The company attributed the sharp rise in gross profit performance to an increase in gross profit from the technical sales and distribution of EGE and the consultancy and technical services of EGE during the year.
In addition to the core EGE business, APE also operates smart vending machine business in Macau and the Greater Bay Area. In 2023, this division generated revenue of about HKD2.3 million, with a gross profit of HKD0.3 million.
Looking ahead to 2024, Allen Tat Yan Huie, chairman and executive director of APE said that the company was collaborating with suppliers to introduce new machines and products to meet growing mass market demand.
