APE expects to post 80% drop in revenue for 2021

APE was heavily affected by Covid-19 in 2021.
APE was heavily affected by Covid-19 in 2021.

Asia Pioneer Entertainment Holdings (APE) has revealed it expects to record an 80 per cent decline in revenue for last year.

Macau.- Gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has reported that it expects to post revenue of HK$7.6m for 2021. That would be a drop of 80 per cent year-on-year from HK$40.5m in 2020. The company attributed the drop in revenue to the impact of the Covid-19 pandemic on land-based casinos.

Revenue for the year mostly came from APE’s electronic gaming equipment business, which generated HK$7.5m. Revenue for technical sales and distribution of gaming equipment, plummeted 86.4 per cent year-on-year. Revenue from consultancy and technical services fell 27.2 per cent and repair services 38.4 per cent. 

APE’s new smart vending machines business generated nearly HK$0.15m in the year. Last November, the company started maintaining and repairing consumer-related machines after reporting an 85.8 per cent drop in revenue for the nine months to September 2021.

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