Asia Pioneer Entertainment reports HK$3.8m net profit for FY24
EGE sales drive 71% revenue jump as company posts first profit since pandemic
Key Points:
– APE reports HK$3.8m (US$486,000) net profit for FY24, reversing the previous year’s loss
– Revenue up 70.9% to HK$50.8m, led by Macau casino demand
– Electronic gaming equipment business generated HK$48.5m
Asia Pioneer Entertainment (APE) has swung back into the black for the first time since the pandemic, thanks largely to improving casino demand in Macau.
The company reported a net profit of HK$3.8m for the 2024 financial year, a noticeable turnaround from the HK$1.9m loss in 2023. Revenue jumped 70.9% year-on-year to HK$50.8m, with the bulk of it coming from the electronic gaming equipment (EGE) segment.
APE’s EGE business, which supplies machines to land-based casinos, pulled in HK$48.5m. That figure marks a 77% increase from the previous year, with most of the demand coming from Macau operators.
Chairman Allen Huie said the company was pleased to be back in profit and that there was clear momentum returning to the market. He added that APE’s products had attracted interest not just in Macau but in places like the Philippines and Southeast Asia as well.
Chief Executive Herman Ng pointed to broader industry recovery in Macau. “With nearly 35 million visitors last year, things are getting back to where they were pre-Covid,” he said. “We are also looking to grow into other Asian markets through trusted partners.”
APE also has a smaller vending machine business that made modest contributions. However, the company’s main focus remains on gaming equipment.
Looking ahead, Huie said the group would be keeping a close eye on new opportunities in other parts of Asia, such as Abu Dhabi and potentially Thailand, as well as investing in new tech for its product range.
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