APE revenue drops 86pct y-on-y in Jan-Sept

Local electronic gaming company Asia Pioneer Entertainment reports HK$13 million (US$1.6 million) in losses in the nine months ending September 30 of this year, as revenue plunged by 86 per cent year-on-year to approximately HK$5.5 million.

The company is currently mainly engaged in the technical sales and distribution of EGE to land-based casinos; the provision of repair services to casino operators; and the provision of consultancy and technical services.

EGE sales and distribution contributed the largest amount APE’s total revenues, some HK$3.8 million.

The group headed by Allan Tat indicated that it remains concerned about the impact of the ongoing outbreak of the COVID-19 on the operations of its land-based operators in Macau SAR and Southeast Asia and hoped its business activities can quickly return to pre-COVID-19 levels.

The downturn has led APE to start diversifying its business towards smart vending machines, via its SmartCom brand.

‘During the Period, the Group has installed 16 units of smart VMs in Macau SAR under our SmartCom brand. SmartCom has also signed consignment and purchase agreements with several Macau branded products for our smart VMs. The Group is now implementing our roll-out strategy. We are hopeful that more smart VMs can be rolled out to various locations throughout Macau SAR at the end of 2021,’ the company added.