Macau-based electronic gaming product distributor Asia Pioneer Entertainment Ltd (APE) has reported an 85.8% year-on-year decline in revenue to HK$5.5 million for the nine months to 30 September 2021, with all three of its business segments suffering declines.
According to the company’s latest results announcement, income contributed by the technical sales and distribution of electronic gaming equipment fell from HK$36.1 million over the same period in 2020 to HK$3.8 million through September 2021, by consultancy and technical services from HK$2.0 million to HK$1.4 million and by repair services from HK$1.0 million to HK$300,000.
However, loss narrowed from HK$23.5 million to HK$13.0 million thanks to a one-time impairment loss of finance lease receivables totalling HK$22.9 million that was incorporated into last year’s results.
APE said it “remains concerned about the impact of the ongoing outbreak of the COVID-19 on the operations of its land-based operators in Macau SAR and Southeast Asia” and “still hopes that its business activities can quickly return to pre-COVID-19 levels.”
The company did, however, provide an update on its new smart vending machines business, revealing it has now installed 16 units in Macau SAR under the SmartCom brand.
“SmartCom has also signed consignment and purchase agreements with several Macau branded products for our smart VMs,” APE said.
“The Group is now implementing our roll-out strategy. We are hopeful that more smart VMs can be rolled out to various locations throughout Macau SAR at the end of 2021.”