Asia Pioneer Entertainment Limited expecting to chalk up a 2021 slump

In Macau and electronic gaming machines heavyweight Asia Pioneer Entertainment Limited has reportedly announced that it soon expects to announce a decline of over 80% year-on-year in its aggregated 2021 revenues to approximately $971,200.

According to a report from Asia Gaming Brief, the Hong Kong-listed firm used an official Friday filing to reveal that it chalked up combined receipts of slightly over $5.17 million for the whole of 2020 but was subsequently hit hard by the negative impacts of the ongoing coronavirus pandemic. The source detailed that the Macau-headquartered company chronicled a gross profit for that twelve-month period of roughly $1.34 million, which equated to a slump of 63.2% when compared with the previous year’s tally of almost $3.65 million.

Singular superiority:

Asia Pioneer Entertainment Limited reportedly disclosed that the vast majority of its revenues for last year at about $958,300 are now expected to come from its electronic gaming machines sales and distribution business, which would represent a drop of some 86.4% year-on-year. The local titan purportedly then went further in noting that it anticipates racking up a 27.2% decrease in combined receipts from its technical services and consultancy activities alongside a plunge of 38.4% in collective returns from its repair business.

Read the filing (pdf) from Asia Pioneer Entertainment Limited…

“As the company is still in the course of finalizing its results for the year, the information contained in this announcement is only based on the preliminary assessment by the company’s management according to the information currently available to the board and the unaudited consolidated management accounts of the group for the year, which have not been reviewed or audited by the company’s independent auditors or reviewed by the audit committee of the board.”

Future focus:

However, the Executive Director for the gaming machines firm established in 2006, Tony Chan, reportedly divulged that he expects his company’s new smart vending machines business to bring in aggregated receipts for 2021 of around $19,000. The management figure purportedly furthermore noted that the enterprise has been using the recent coronavirus-induced slowdown to explore ‘opportunities in the metaverse’ that could well allow travellers to explore and interact with Macau’s many integrated casino resorts before leaving home.

Application alteration:

Although Chan was unwilling to elaborate further on his company’s future plans owing to disclosure rules for Hong Kong-listed companies, Asia Gaming Brief reported that he did assert that the envisioned metaverse product will likely focus on the leisure side of the land-based casino market rather than offering direct online wagering or gambling services.

Reportedly read a statement from Chan…

“Asia Pioneer Entertainment Limited has been pioneering the metaverse during the slowdown of the slots supplier market and has experimented and prototyped something that we will launch soon.”