Macau-based gaming product distributor Asia Pioneer Entertainment reported a 185% year-on-year increase in group-wide revenue to HK$7.67 million (US$981,115) in the six months to 30 June 2023, primarily aided by the recovery of its Technical Sales and Distribution segment.
Publishing its H1 financial results on Friday, APE revealed a 680% increase in revenue from its Technical Sales and Distribution of EGE segment to HK$4.77 million (US$610,160) – up from HK$612,056 (US$78,290) a year earlier – due to “higher overall selling revenue”.
The Repair Services segment grew by 146% to HK$617,546 (US$78,995) although Consultancy and Technical Services declined by 15.5% to HK$1.14 million (US$145,825).
Also on the rise were product sales of the company’s Smart Vending Machines, with revenue up 139% to HK$1.13 million (US$144,545).
Nevertheless, APE still fell to a HK$7.13 million (US$912,040) loss for the period, even if narrowed from HK$9.76 million (US$1.25 million) in 1H22. Loss for the three months to 30 June 2023 was HK$3.36 million (US$429,800).
Commenting on its results, APE said it was confident of better days ahead as the gaming environment in Macau continues to recover post-COVID.
“The Group’s goal for the second half of 2023 is to get back to profitability,” APE explained. “Since the post-COVID opening in the beginning of 2023, Macau’s tourism has slowly picked up. Casinos’ gross gaming revenues have correspondingly increased.
“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.
“On the EGE supplier side, we are happy to announce that we have extended our exclusive distribution with one of our big EGE suppliers for all of Asia. By securing such exclusive distribution, the Group will be in a better position to increase our EGE revenue for the coming years. We are also working hard to secure exclusive distribution rights with other famous EGM suppliers, where we believe that there is increasing demand from casinos.”
