Asia Pioneer Entertainment Holdings Limited will receive 22.5 percent of the net performance of each unit on a quarterly basis.
Macau.- Asia Pioneer Entertainment Holdings Limited (APE), one of the biggest suppliers of electronic gaming technology, has entered into an operating lease agreement with Glimex Inc.
Under the deal, APE will lease electronic gaming equipment for use at the the company’s Palace Casino, located at JPark Island Resort in Cebu, Philippines.
The agreement is valid for 24 months since from 31 January, with APE placing up to 62 EGE units at the JPark Palace Casino. In return, APE will receive a variable rental income equivalent to 22.5 percent of the net performance of each unit on a quarterly basis.
“We may further expand the operating leasing business in Macau and other countries in the South East Asia in the future”, Chief Financial Officer and Executive Director at APE Holdings, Tony Chi Lun, said in a statement.
Glimex, Inc is an international trading company based in Makati, Philippines, which also supplies EGEs from Ainsworth Game Technology Ltd and Alto Gaming.
APE previously supplied 86 EGE units to Glimex’s Palace Casino in December, 2018.