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).

Source: https://www.asgam.com/index.php/2022/03/29/asia-pioneer-narrows-loss-in-2021-says-optimistic-about-future-positioning/