APE reports strong financial performance in 2018

Sum Manet / Khmer Times No Comments Share:
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Asia Pioneer Entertainment (APE) Holdings Limited, a gaming machine agent based in Macau, announced strong financial results last year with noteworthy performances in the Cambodian and Philippines markets.

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The company’s profit and total comprehensive income surged by 361 percent to $2.63 million in 2018, while revenue rose by 27 percent to $14 million.

“The strong revenue growth was driven by continuous growth in the group’s core lines of businesses, including sales and distribution of electronic gaming equipment (EGE), particularly with two lease sales it made in Cambodia and the Philippines,” APE said.

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Other sources of revenue were consulting services to equipment suppliers, equipment repair, and sales of refurbished machines, APE added.

According to a recent industry report, in 2018, Asia’s mass gaming and slots market grew around 15 percent in gross gaming revenue. The Philippines (25 percent growth) and Cambodia (32 percent) were the fastest growing markets in the region.

Allen Huie, APE chairman, said the company has established itself as a major player in Macau’s EGE industry.

“Our goal is to leverage the company’s product knowledge and experience in Macau to access the Southeast Asian markets.

“We have been able to initiate our Asian expansion with lease sales in Cambodia and the Philippines, the two countries that grew the fastest in the EGE industry,” Mr Huie said.

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Herman Ng, the company’s CEO and executive director, said exploring and implementing new products and games is essential to the electronic gaming market, adding that the group needs to continuously seek new games that suit casinos and players.

“We feel confident that our experience will put us in a good position to bring new products and games, which will support APE’s sustainable growth.

“For the year ahead, we believe the Macau market will remain strong with continued demand from the mass gaming market, as well as two new casinos openings in Cotai.

“We also see bright growth prospects in Asian markets such as the Philippines, Cambodia, and Vietnam,” Mr Ng added.

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