Asia Pioneer Entertainment Holdings (APE) has shared its financial results for the first half of the year 2021, confirming a 74.6 per cent drop in revenue.
Macau.- Gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has 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. However, APE says it has a “cautious optimism” that the EGE and casino product market will begin to recover in the second half of 2021.
The company said: “This view is based on the assumption that travel bubble corridors will open up between China and Macau SAR, which will continue to allow tourists to travel to Macau SAR without quarantine restrictions.”
APE to diversify into vending machine operations
APE has said that due to the Covid-19 pandemic and its impact on the industry, it will implement a diversification strategy under its SmartCom brand in the Macau Special Administrative Region, launching smart VM operations.
The company said it has 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 will help broaden and enhance the group’s overall business.
The group revealed it has installed three smart VMs in Macau under its SmartCom brand and expects more to be rolled out in the second half of 2021.