Hong Kong-listed gaming supplier Asia Pioneer Entertainment (APE) saw its FY25 net profit fall shy of expectations, reaching HK$6.13 million ($784,000), compared to a previous estimate of HK$7.5 million ($958,400).
In its annual results released last Friday, APE indicated that the 63.25 percent increase in profit was mostly due to an increase in electronic gaming equipment (EGE) sales and distribution in its primary market: Macau.
The group saw EGE business revenue reach HK$63.7 million ($8.14 million) for the year, up by 31.3 percent annually, with sales and distribution totaling HK$57 million ($7.27 million), up by 46.3 percent year-on-year, pushing the segment’s gross profit up by 42.3 percent to HK$24.1 million ($3.08 million).
Groupwide revenue was up by 29.73 percent yearly, to HK$65.84 million ($8.41 million).
During the year, the group’s consultancy and technical services division of EGE saw a 24 percent drop in revenue, totaling HK$6.7 million ($866,000), with no revenue derived from its repair services division.
During the year, the group saw a significant increase in the number of electronic gaming machine (ETG) sales, rising from four in 2024 to 34 in 2025. Electronic table game (ETG) sales rose from 176 in FY24 to 198 in FY25.
By region, Macau contributed HK$51.33 million ($6.56 million) in revenue from sales and distribution of EGE, with Sri Lanka being the second-largest contributor, at HK$2.91 million ($371,800). EGE revenue from the Philippines was HK$2.35 million ($300,000), with the group registering other EGE revenue from Taiwain, Malaysia and mainland China.
In 2025, Malaysia had previously been the second-largest geographical segment contributor to EGE sales, with HK$6.93 million ($885,000) in revenue.
Sustained growth in Macau
Following the group’s uptick in FY25, APE Chairman Allen Huie noted that “Macau is back and looking good for the foreseeable future”, furthering that “we are confident of the Group’s growth trajectory for 2026”.
This is based on resilience and expansion in the gaming industry and “sustained demand” for the group’s core EGE business.
“We expect sustained growth from Macau […] as casino customers continue to place new purchase orders for our EGEs,” noted Huie.
New distributor licenses for Abu Dhabi and Singapore
APE’s Chairman also highlighted expectations for “growth internationally beyond Macau”, indicating that the company is “currently applying for distributor licenses in Abu Dhabi and Singapore to distribute our EGE products to casinos in these markets”.
In support of the expansion, APE has secured at HK$20 million ($2.56 million) credit facility with Macau’s BNU bank.
Aside from its geographical expansion, the group aims to expand its product offerings beyond EGEs, including “products pertaining to table games or solutions for the gaming floor”.
The Chairman noted that “we intend to introduce such products prudently and increase the range of products offered by the Group,” noting that the company hopes “to discuss more about these new products in the coming year”.
