APE revenue down 85.8% in last nine months
Asia Pioneer Entertainment Holdings (APE) has shared its financial results for the nine months to September 2021, reporting an 85.8 per cent drop in revenue.
Macau.- Gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has reported revenue of HK$5.5m for the first nine months of the year, down 85.8 per cent when compared to 2020. However, the company’s loss has narrowed by 44.7 per cent from $23.5m to $13m.
APE attributed the drop in revenue to the Covid-19 pandemic and the impact it had on land-based casinos. Revenue for technical sales and distribution of gaming equipment plummeted 89.4 per cent year-on-year.
The company also registered a decline of 32.2 per cent in revenue from consultancy and technical services and of 65.3 per cent in repair services. Full financial results will be shared on November 9.
In August, APE said that due to the Covid-19 pandemic and its impact on the industry, it was going to implement a diversification strategy under its SmartCom brand in the Macau Special Administrative Region, launching smart VM operations.
The company said it had experience in maintaining, repairing, and operating consumer-related machines and that the growing smart vending machine market has potential. It said diversification into smart VM operations would help broaden and enhance the group’s overall business.
The group revealed it had installed three smart VMs in Macau under its SmartCom brand and expected more to be rolled out in the second half of 2021.
