APE revenue rises 185% in H1

APE saw a 679.5 per cent rise in electronic gaming equipment sales.

Macau.- The gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has shared its financial results for the first half of the year. It’s reported HK$7.7m (US$0.98m) in revenue, a rise of 185.4 per cent year-on-year.

Income from the sales of electronic gaming equipment rose 679.5 per cent. APE’s core business involves the distribution of electronic slot machines and table games to land-based casinos in Macau, supplemented by repair services, consultancy and technical support.

There was a 15.5 per cent decline in the consultancy and technical services segment (HK$1.1m) while revenue from repair services rose 146 per cent to HK$600,000. APE’s diversification into the smart vending machines brought in HK$1.1m, up 139.2 per cent.

APE reported a net loss of HK$7.1m compared to a net loss of HK$9.8m for the same period last year.

The company said: “The Group’s goal for the second half of 2023 is to get back to profitability. Since the post-Covid-19 opening at the beginning of 2023, Macau’s tourism has slowly picked up. Casino’s gross gaming revenues have correspondingly increased. T

“The Group has received numerous enquiries from casinos for EGE upgrades and new machine purchases. Management of the Company is working hard to respond and fulfil these enquiries. We are hopeful and expect to start more booking EGE revenues by the second half of 2023.”

APE said it has started a programme for summer internship students from local universities to work on a three-month prototype-building project that will explore the use of generative AI for the next generation of casino gaming compliance and games adoption.

The company said: “It is the team’s hope that we will be able to use generative AI to assist the Group’s consulting business, as well as explore new games development. We will provide more updates on this initiative as the team progresses.”