Macau-based electronic gaming equipment distributor Asia Pioneer Entertainment Holdings Limited is expanding into sports entertainment.
APE issued an announcement on Friday in which it outlined plans to commence “sports and sports-related entertainment businesses,” including the sponsorship and promotion of sports events and operation of sports entertainment venues in Macau through a wholly-owned subsidiary, APE Sports and Entertainment Limited. The company didn’t provide any specifics as to what sports events this might entail.
It did, however, note that the group has been actively looking for new opportunities in order to diversify its income stream.
“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,” it said.
APE recently reported an increased loss of HK$4.1 million in 1Q20 on a 70.1% decline in revenue due to a slowdown in new orders and cancellation of others as a result of COVID-19.
The company has traditionally been involved in the technical sales and distribution of EGE (Electronic Gaming Equipment) to land based casinos, repair of EGE and sale of spare parts, consultancy to suppliers or manufacturers of EGE to casino gaming supplier markets, sales of refurbished EGE, and lease sales and leasing of EGE.
On the same day as it revealed its new business venture, APE also announced it had installed its full range of electronic gaming equipment at Suncity’s Vietnam integrated resort Hoiana ahead of Sunday’s exclusive preview opening.
Products installed include Spintec’s 8-seated “Karma II” roulette and Konami’s “Dragon Victory” linked progressive slot machine.
“We proudly supply our full range of customized and integrated products to Hoiana Suncity,” said APE CEO and Executive Director, Herman Ng.
“As a total solutions provider of EGEs for land-based casinos in Macau as well as other regions in Asia, we are really excited to enter into this iconic project to present our products to players from around the world. It is a strategic move for APE to extend our footprint in Vietnam.”
