The company says it will now focus its equipment business on Macau.<\/p>\n\n\n\n\n\n\n\n
Macau.- Gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has posted unaudited consolidated financial results showing a revenue drop of 46 per cent in the six months to June 30, compared to the same period in 2019.<\/p>\n\n\n\n
Last year the company made approximately HK$21.9 million (US$2.8 million) and has now reported HK$11.8 million (US$1.5 million) for the first half of 2020.<\/p>\n\n\n\n
The group said its subsidiary APE Macau, which operates the core businesses in Macau Special Administrative Region, accounted for all revenues.<\/p>\n\n\n\n
APE\u2019s gross profits dropped 59.8 per cent year on year, totalling HK$3.3 million (US$425,808) from January to June 2020, and gross profits margins from sales of products and services fell to 28.1 per cent, down from 37.7 per cent last year.<\/p>\n\n\n\n
Losses before tax were HK$28.9 million, \u201cmainly due to an impairment loss of HK$22.9 million (US$2.95 million) in finance lease receivables.\u201d<\/p>\n\n\n\n
APE\u2019s board did not recommend paying any interim dividends for the period.<\/p>\n\n\n\n
In the filing the company said its core business was highly dependent on the demand of casinos, particularly at the time of new casino openings and replacement of used electronic equipment.<\/p>\n\n\n\n
For the future the group plans to focus on strategic objectives, consolidating its distribution of electronic gaming equipment in Macau SAR and Southeast Asia, as well as seeking new business.<\/p>\n\n\n\n
It said: \u201cThe group decided to concentrate its focus on operations and businesses in Macau SAR and only selectively sell electronic gaming equipment to Southeast Asian countries.\u201d<\/p>\n\n\n\n
Recently, APE announced its intention of entering the sports events and sports venues<\/a><\/em><\/strong> business, for which it created another Macau subsidiary, APE Sports and Entertainment Limited. It now said: \u201cThe group believes that sports entertainment will excel<\/a><\/em><\/strong> as visitors will return to Macau SAR after the outbreak of COVID-19 has been controlled\u201d.<\/p>\n\n\n\n Finally, as the group has made its first incursion into the consulting business, participating as project management to advise an operator in the opening of a new casino in Vietnam. <\/p>\n\n\n\n APE said it \u201chopes that this consulting project will lead to further business opportunities in Vietnam or other similar consulting projects.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The company says it will now focus its equipment business on Macau.<\/p>\n","protected":false},"author":2,"featured_media":9042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Asia Pioneer Entertainment Holdings (APE) reported a significant 46% revenue drop and 59.8% gross profit decline in H1 2020, primarily due to reduced demand for electronic gaming equipment and an impairment loss. The company is strategically refocusing its core equipment distribution on Macau SAR, while diversifying into sports entertainment and casino consulting services in Vietnam and Southeast Asia.","focusai_entities":"Asia Pioneer Entertainment Holdings, APE, APE Macau, APE Sports and Entertainment Limited","focusai_location":"Macau, Southeast Asia, Vietnam","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"APE's Macau Strategy","query":"How will APE's intensified focus on Macau SAR for electronic gaming equipment distribution mitigate the reported revenue decline, considering the current market saturation and post-COVID recovery trajectory?"},{"label":"Diversification ROI","query":"What are the projected revenue contributions and profitability timelines for APE's new ventures in sports events\/venues and casino consulting, particularly in nascent markets like Vietnam?"}],"footnotes":""},"categories":[16338,163],"tags":[8720,257],"class_list":["post-9040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-ape","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=9040"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9040\/revisions"}],"predecessor-version":[{"id":9067,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9040\/revisions\/9067"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9042"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}