APE expects 75% decline in revenue for H1

By Violeta Prockyte

Asia Pioneer Entertainment Holdings expects a 75% decline in the group’s revenue for the six months ended 30 June 2021, from HK$11.8m ($1.5m) in 2020 to HK$3m expected this year. The ongoing pandemic in Macau has adversely affected the group's revenue streams.

APE expects revenue from its main business units, including technical sales and distribution of EGE products, consulting and technical services and repair services, to decline by approximately 80%, 41% and 80% respectively for the period.

The financial results of the group haven’t been audited yet, with the expected date for the full review to be published being 13 August 2021.

Macau is currently trying to resume travel to and from nearby regions, with mixed results. The potential travel bubble with Hong Kong keeps getting delayed, with the newest date pushed back to Autumn.

And recently, an outbreak was detected in Nanjing Lukou International Airport, with 144 people placed in mandatory quarantine. An asymptomatic person was detected in a neighbouring Zhuhai city on Monday, and everyone who visited the airport and entered Macau since 14 July needs to quarantine for two weeks.

Visitors who have been to Taiwan are also required to undergo a mandatory 21-day hotel quarantine before entering Macau. Travelers from Hong Kong and certain Chinese provinces, Yunnan, Jiangsu, Liaoning and Sichuan, need to comply with a two-week mandatory quarantine.

However, despite the fear of new cases and renewed travel restrictions, it’s unlikely Macau will implement stricter rules such as shutting down casinos. Instead, experts believe Macau will carry on with health and safety measures like quarantines and vaccinations to prevent community outbreaks.

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