Asia Pioneer Entertainment Holdings Limited Announces FY2024 Annual Results: Returns to Profitability with Strong Revenue Growth

Asia Pioneer Entertainment Holdings Limited (“APE” or the “Company”, with its subsidiaries collectively referred to as the “APE”; Stock Code: 8400.HK) yesterday announced its annual results for the financial year ended 31 Dec 2024. (“FY2024”).

According to the announcement, APE made a net profit of approximately HK$3.8 million compared to a loss of HK$1.9 million for the year ended 31 December 2023 (“FY2023”). This profit was attributed to a 70.9% increase in the Group’s revenue from HK$29.7 million in FY2023 to approximately HK$50.8 million in FY2024. With the significant results, APE has returned to profitability for the first time in FY2024 after the pandemic.

The strong revenue growth was mainly driven by the increase in income from the electronic gaming equipment (“EGE”) business, due to the strong demands from Macau casino customer orders. APE’s total EGE Business revenue during FY2024 was approximately HK$ 48.5 million, representing an increase of approximately 77.3% over that of approximately HK$27.4 million for FY2023.

Mr. Allen Huie, APE’s Chairman and Executive Director, commented: “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.”

Mr. Herman Ng, APE’s Chief Executive Officer and Executive Director, added, “In 2024, the overall casino gross gaming revenues from Macau increased 23.9% compared to 2023. Moreover, Macau recorded 34.93 million visitors in 2024, which is approximately 88.6% 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.”