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APE accumulates US$3m loss

The company has sold 175 gaming machines in 2020.
The company has sold 175 gaming machines in 2020.

All divisions saw lower figures for the first nine months of 2020.

Macau.- Gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has reported a HK$23.5m (US$3.03m) loss for the first nine months of 2020. That represents a 784.3 per cent increase against the same period in 2019.

This increase in losses was mainly attributed to an impairment loss of HK$22.9 million (US$2.95 million) in finance lease receivables, the company said.

In the first nine months of the year, the group’s revenue reached HK$39.1 million (US$5 million), 26.8 per cent less than in the same period in 2019

APE said there was a decrease in income from its technical sales and distribution unit. Sales of electronic gaming equipment were down 24.9 per cent year-on-year to approximately HK$36.1 million (US$4.65 million).

The company reported sales of 175 EGE seats of EGE, down from 202 for the first nine months of 2019.

APE’s consulting and technical services business, meanwhile, saw revenue fall 40.7 per cent to HK$2 million (US$257,943).

Finally, repair services saw revenue halve to HK$1 million (US$128,971).

APE’s board decided not to pay any dividends for the period.

The financial report stated: “The group hopes that its business activities can quickly return to pre-Covid-19 levels.”

It said the company “continues to seek business opportunities that can supplement the group’s core EGE business and explore new business opportunities which can exploit its strengths as a Macau SAR based supplier with a strong customer base.”

The company is looking into opportunities in sports events.

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