Local electronic gaming company Asia Pioneer Entertainment (APE) reported HK$13.3 million (US$ 1.69 million) in losses in the nine months ending September 30, as revenue plunged by 27.6 per cent year on year to approximately HKD4 million.
The Macau-based company mainly engages in sales and distribution of electronic slot machines and table games to land-based casinos, while providing repair services for casino operators, alongside consultancy and technical services.
In the first nine months of the year, the group’s revenue amounted to HKD4 million, representing a decrease of 27.6 per cent from the HKD5.5 million recorded in the same period last year.
The decrease in revenue was “mainly due to a decrease of income derived from technical sales and distribution of electronic gaming equipment (EGE) and repair services by 74 per cent and 8.8 per cent,” the company stated in a stock filing submitted to the HK stock exchange.
The EGE supplier stressed that the Covid-19 pandemic continued to impact the operations of their customers in Asia, particularly casinos in Macau, resulting in the group’s performance being adversely affected.
Concerned about the prolonged impact of the ongoing outbreak, the company indicated that they were trying to diversify their business lines, and were looking for EGE sales elsewhere in Asia and improving operations in another principle line of business – smart vending machines – to stay afloat.
In the second half of 2021, the group begun its smart vending machine operations in Macau and neighbouring Zhuhai, with the business generating revenue of HKD0.7 million, and a gross loss of HK$0.3 million.
