Hong Kong-listed Asia Pioneer Entertainment Holdings Ltd posted a net profit of nearly HKD3.8 million (US$483,163) for full-year 2024, compared with a HKD1.9-million loss in the previous year.
The group’s revenue in 2024 increased by 70.9 percent year-on-year to just under HKD50.8 million, according to a Monday filing.
The business, via its Asia Pioneer Entertainment arm, is authorised to distribute electronic gaming equipment in Macau, and also provides such technology to land-based casinos in other parts of the Asia-Pacific region.
Gross profit for last year rose to just above HKD23.5 million, from HKD10.9 million a year earlier.
“The sharp rise in gross profit performance was principally due to the increase in gross profit” from the group’s electronic gaming equipment business, encompassing technical sales and distribution of electronic gaming equipment, stated the firm.
No dividend was paid or proposed for the reported period.
Full-year 2024 revenue from technical sales and distribution of electronic gaming equipment was just over HKD39.0 million, up 178.0 percent year-on-year.
Revenue in the consultancy and technical services business stood at HKD8.8 million, down 25.6 percent from a year earlier.
Allen Tat Yan Huie, the parent’s chairman and executive director, said in remarks included in the filing that the company expected “growth to continue in 2025 and beyond, as casinos continue to strengthen their financial positions”.
He added: “In our core electronic gaming equipment business, we expect customers to continue to order new … machines from the group as our machines have proven to be both attractive and reliable.”
The chairman also said the group was working with gaming suppliers to “introduce new machines and products to meet the growing demands of the mass-gaming market”.
The executive disclosed that in late 2024, the group “made a minor 3.57-percent share capital investment” in a new manufacturing and technology company in Macau.
“This new company is expecting to produce products suitable for the gaming industry. If successful, the group has the potential option to increase its share capital in this new company to up to 50 percent,” he stated.
