A jump of more than 75 per cent in electronic gaming equipment (EGE) revenue helped Asia Pioneer Entertainment (APE) return to profitability in 2024, for the first time since before the Covid pandemic.
The company’s EGE revenue soared by 77.3 per cent year-on-year from HK$27.4m (£) to HK$48.5m amid “strong demands from Macau casino customer orders.”
The segment’s improvement helped APE revenue increase 70.9 per cent to HK$50.8m (£) from HK$29.7m in 2023.
Overall, that fed into APE returning to profit for the first time since the pandemic, moving from a loss of HK$1.9m (£) in 2023 to a net profit of HK$3.8m (£) in 2024.
Allen Huie, APE’s chairman and executive director, said: “It is exciting to see APE return to profitability. The recent industry awards show that our products have a strong appeal in the market, not just in Macau but in other land-based casino markets, such as the Philippines and Southeast Asia.
“Strategically, the group continues to seek opportunities to grow our overall business. The gaming industry’s growth potential is substantial, and we are optimistic about our prospects in 2025 and beyond.”
Herman Ng, APE’s chief executive officer and executive director, added: “In 2024, the overall casino gross gaming revenues from Macau increased 23.9 per cent compared to 2023. Moreover, Macau recorded 34.93 million visitors in 2024, which is approximately 88.6 per cent of pre-pandemic levels.
“As APE expands its products from its core EGE business to other casino-related products and services, we are confident about our future prospects of exploring more opportunities in other Asian countries with our reliable partners and their innovative products.”
