APE revenue down 81.1% in 2021

Asia Pioneer Entertainment Holdings (APE) has attributed the drop to the decrease in revenue from its electronic gaming equipment business.

Macau.- Gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has reported that its revenue for 2021 plunged 81.1 per cent to HKD7.6m (US$975,180). It made a loss of HKD23.1m for the year.

The company’s revenue from its technology sales and electronic game equipment distribution fell 86.4 per cent year-on-year to HK$5m. The group sold a total of 36 slots for video game devices, up from 176 slots in 2020.

Revenue from consulting and technical services decreased by 27.2 per cent year-on-year to HK$1.8m while revenue from maintenance services was HK$650,000, down 38.4 per cent year-on-year.

APE’s new smart vending machines business was in the start-up testing phase in 2021, but the company installed 40 vending machines in Macau and two in Zhuhai, in the neighbouring Guangdong province. The company said the segment generated revenue of HK$145,305 as most of its vending machines were “only installed by the end of 2021”.