Electronic gaming product distributor Asia Pioneer Entertainment (APE) returned to profit in 2024, registering a gain of HK$3.76 million ($483,300) compared to a loss of HK$1.9 million ($244,000) in 2023.
The group attributes the profit to a 70.9 percent increase in its revenue, to approximately HK$50.75 million ($6.52 million).
The majority of the group’s revenues and profits were derived from its electronic gaming equipment (EGE) business, driven by casino customer orders mainly from Macau.
Total revenue from the EGE business in 2024 was approximately HK$48.5 million ($6.23 million), an increase of about 77.3 percent yearly. The revenue from the technical sales and distribution of EGE amounted to HK$38.97 million ($5 million), a yearly increase of 178 percent. The group also derived revenue of HK$8.77 million ($1.13 million) from its consultancy and technical services segment, a decrease of approximately 25.6 percent.
As measured by the number of seats, 180 seats were sold for four electronic gaming machines, down by 93 percent yearly. The number of ETG seats sold totaled 176, a 214 percent yearly rise.
By geographical market for EGE sales and distribution, Macau continued to dominate, with revenue of HK$43.26 million ($5.56 million). This is a significant increase compared to the HK$26.31 million ($3.38 million) registered in the same market in 2023.
Malaysia became the group’s second highest performing market, bringing in HK$6.93 million ($890,700) in revenue.
Speaking of the results APEC chairman Allen Tat Yan Huie noted that: “We expect this resurging growth to continue in 2025 and beyond as casinos continue to strengthen their financial positions […] Strategically, the Group continues to seek opportunities to grow our overall business. We believe the gaming industry as a whole has ample room for growth. We believe the Group can leverage off its Macau SAR background and gaming industry experience to expand its business for our Shareholders”.
The Chairman also noted “We hear of new casino opportunities in Abu Dhabi and Thailand in the future”.
