Hong Kong-listed Asia Pioneer Entertainment Holdings (APE) managed to reverse its losses in the second quarter of the year, seeing profit of HK$563,281 ($72,000), compared to a loss of HK$649,272 ($83,000) in 2Q22.
Total revenue reached HK$5.91 million ($755,000), up from HK$1.36 million ($174,900) in 2Q22.
During the first half-year, the electronic gaming equipment (EGE) supplier notes that the gains were largely driven by a 679.5 percent increase in revenue from its Technical Sales and Distribution of EGE segment, which totaled HK$4.77 million ($610,000).
Overall revenue during the half-year period was up 185.4 percent yearly, to HK$7.67 million ($981,000).
Gross profit totaled HK$300,517 ($38,000), a strong reversal from the HK$878,109 ($112,000) loss registered in 1H22.
The group notes that its goal for the second half of the year ‘is to get back to profitability’, noting that it has ‘received numerous inquiries from casinos for EGE upgrades and new machine purchases’
The company notes it is ‘working hard to respond and fulfil these enquiries’ and ‘are hopeful and expect to start more booking EGE revenues by the second half of 2023’.
APE is a licensed supplier of EGEs for all six of Macau’s gaming concessionaires, including electronic table games and electronic gaming machines.
The group also notes that it’s started research into ‘the use of AI in gaming’, in particular the use of ‘generative AI for next generation of casino gaming compliance as well as games adoption’.
It plans to use AI ‘to assist the group’s consulting business, as well as explore new games development’.