APE 2018 revenue jumps 27 percent

Asia Pioneer Entertainment has posted a 27 percent increase in 2018 revenue, driven mainly by consultancy services and lease sales in Cambodia and the Philippines.

The company, which listed on the Hong Kong Stock Exchange last year, posted revenue of HK$110 million ($14 million). Group profit surged 361 percent to about $20.7 million.

Revenue from the technical sales and distribution of electronic gaming equipment fell 10 percent to HK$65.6 million, sales from consultancy and technical services increased 26 percent to HK$8.5 million and revenue from two lease sales in Cambodia and the Philippines totalled $30.4 million.

“Looking ahead, management believes that the group’s growth prospects for 2019 will lean slightly more towards the Asia market which are growing quicker than Macau SAR,” the company said. “In particular, SunCity’s new casino opening in Hoi An in the Republic of Vietnam and growth in new casino resorts in the Philippines and Cambodia have potential to bring new business to the group.”

APE said it was also receiving more leasing enquiries in Philippines, Cambodia, and Vietnam.