Asia Pioneer narrows loss in 2021, says optimistic about future positioning
Macau-based electronic gaming equipment supplier Asia Pioneer Entertainment (APE) has reported a loss of HK$23.1 million (US$3 million) for FY21, narrowed from a loss of HK$32.0 million (US$4.1 million) despite suffering huge declines in revenue and gross profit.
APE operates two main business lines, with its existing electronic gaming equipment (EGE) segment recently supplemented by the addition of a smart vending machine business.
The latter contributed only HK$150,000 (US$19,000) in revenue in 2021 due to the majority of its 42 machines in Macau and Zhuhai being installed towards the end of the year, while the company reported an 81.1% decline in revenue from its EGE segment HK$7.6 million (US$971,000).