Macau-based gaming equipment distributor Asia Pioneer Entertainment (APE) reported a loss of HK$1.9 million (US$243,000) in 2023, narrowed from a HK$14.7 million (US$1.88 million) loss a year earlier. However, the company said it was profitable in the second half of the year, primarily driven by customer orders for upgrades and new machines in its electronic gaming equipment (EGE) business.
APE represents multiple suppliers across Asia, including the likes of Spintec, Konami, Jumbo and TransAct.
The company reported consolidated revenues of HK$29.7 million (US$3.8 million) in 2023, up 183% year-on-year, of which HK$27.4 million came via its EGE business. This included HK$14.0 million from the technical sales and distribution of EGEs, HK$11.8 million from consultancy and technical services and HK$1.6 million from repair services.
Its Smart Vending Machine business, launched in late 2021, generated revenue of HK$2.3 million for the year.
APE Chairman and Executive Director Allen Huie said 2023 was a year of resurgence for the company.
“While we incurred a slight loss for the whole of FY23, we were profitable by the second half of the year,” he said. “This resurgence was principally driven by customer orders for upgrades and new machines in our EGE business, as well as operating improvements in our Smart VM business.
“Going forward into 2024, we expect this resurging growth to continue. In our core EGE business, we expect customers to order new EGE machines from the Group as our machines have proven to be both profitable and reliable. In the EGE business development front, we are working with suppliers to introduce new machines and products to meet the growing demands of the mass gaming market. We expect sustainable growth for our overall EGE business.
“Strategically, the Group is continuing to seek opportunities to grow our total business. We believe Macau, as the only legal gaming venue in China, is the core driver of business opportunities for the Group. With growing tourism and mass gaming, we believe the Group can leverage off its background and experience, and profit from various business opportunities related to Macau.”
RelatedPosts
