Local electronic gaming equipment company Asia Pioneer Entertainment Holdings Limited (APE) has made an announcement that it will start diversifying its business towards sports and sports-related entertainment.
This new ventures will include sponsorship and promotion of sports events and operating sports entertainment venues in Macau through a wholly-owned subsidiary of the Company incorporated in Macau named APE Sports and Entertainment Limited.
The group’s revenue showed a sharp 70 per cent year-on-year drop in the first quarter of this year to some HK$2.4 million, with APE now noting that it has been actively exploring new business opportunities ‘in order to diversify its income stream and bring a higher return to its shareholders’.
‘Taking into account the increasing awareness of health and increasing demands for sports events in Macau, the directors are of the view that the commencement of the New Business will be a good opportunity for the group to diversify its income stream and may enhance the financial performance of the group,’ APE stated in a Hong Kong Stock Exchange filing.
Until now the group headed by Allen Huie Tat Yan was mainly engaged in technical sales and distribution of EGEs to land-based casinos; the repair of EGEs and sale of spare parts; consultancy to suppliers or manufacturers of EGEs to casino gaming supplier market; sales of refurbished EGEs; and lease sales and leasing of EGEs.
The company also recently announced that will introduce its full-range electronic gaming equipment to the new Suncity Group integrated casino resort HOIANA in Vietnam, which will hold a preview opening ceremony on June 28.