Macau’s Asia Pioneer Entertainment (APE) returned to profit for the first time since the COVID-19 pandemic, reporting Monday a net profit of HK$3.76 million in FY24 – reversing a loss of HK$1.93 million in the prior year.
The improved performance came on the back of a 70.9% increase in group-wide revenue to HK$50.8 million, primarily attributable to APE’s electronic gaming equipment business. This, it added, was driven by casino customer orders mainly from Macau.
Revenue from the electronic gaming equipment business grew by 77.3% in FY24 to HK$48.5 million, of which the technical sales and distribution segment grew by 178% to HK$39.0 million. Consultancy and technical services declined by 25.6% to HK$8.8 million.
APE’s Smart Vending Machine business, through which it sells various Macau-sourced products in Macau and mainland China, generated revenue of around HK$2.2 million and gross profit of HK$500,000.
In comments accompanying APE’s FY24 results announcement, Chairman and Executive Director Allen Tat Yan Huie said the company expects its recent growth to continue in 2025 and beyond as regional casinos continue to strengthen their financial positions.
“In our core EGE business, we expect customers to continue to order new EGE machines from the Group as our machines have proven to be both attractive and reliable,” he said.
“On the EGE development front, we are working with suppliers to introduce new machines and products to meet the growing demands of the mass gaming market. Some of these developments will involve new technologies that are affecting the gaming industry. The Group is committed to new technologies and developments in the gaming industry.
“Overall, we look forward to 2025 and beyond with optimism. We see steady gross gaming revenue growth for the Macau SAR. We hear of new casino opportunities in Abu Dhabi and Thailand in the future. We see new technologies and developments in the gaming industry overall. We believe the Group is well-positioned for these developments and growth.”
APE is a leading distributor of electronic gaming equipment in Macau and beyond, representing suppliers including Konami, Jumbo and Spintec.
RelatedPosts
