APE implements diversification strategy

APE has been heavily affected by Covid-19.
APE has been heavily affected by Covid-19.

Asia Pioneer Entertainment Holdings (APE) has diversified into smart vending machine operations in Macau due to the impact of the Covid-19 pandemic.

Macau.- Gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has confirmed that it is implementing a diversification strategy and it has started maintaining and repairing consumer-related machines after reporting an 85.8 per cent drop in revenue for the nine months to September 2021.

APE has already installed 16 units of smart VMs in Macau under the SmartCom brand. In the company’s full financial results for the nine months ending September 30, EGE sales and distribution contributed the largest amount of total revenues, at nearly HK$3.8m.

However, APE is still concerned about the ongoing Covid-19 pandemic. It said: “We are hopeful that more smart VMs can be rolled out to various locations throughout Macau SAR at the end of 2021”, in order to return to pre-pandemic levels.

In August, APE also reported revenue of HK$11.8m for H1, down 74.6 per cent year-on-year. The drop was mainly due to a 79.6 per cent decline in EGE’s technology sales and distribution revenue during the period.

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