Asia Pioneer Entertainment Q1 revenue down 35%

Asia Pioneer Leisure Holdings’ Q1 report shows that team revenue totalled around HK$1.3m ($1.66m), representing an approximate decrease of 35% from the HK$2m recorded for the exact same period of 2021. 

The corporation mainly considers this lessen to be the outcome of minimized cash flow derived from technical income and distribution of digital gaming devices a reduction of about 72%. Also, this total is offset by the maximize in income from consulting and technical companies and fix providers of 61.9% and 150.5% respectively from the corresponding durations. 

In addition, APE recorded a total detailed loss of about HK$4.3m which again, is a decrease of 1.8% from a Q1 2021 full of HK$4.3m.

In the same way to the decline of specialized profits, this reduction in cash has been mostly put down to the ongoing slowdown of new orders, which has appear as a end result of the operational effects of Covid on its main buyers. Particularly, the on line casino operators in the Macau Particular Administrative Region. 

As a result of economic results for the quarter, the Board of Administrators has solved not to declare any payment of dividend for the term. 

At the end of 2021, Asia Pioneer Entertainment reported an 81% lower in earnings for 2021 from the calendar year prior. At the time, the company’s income stood at HK$7.6m.

This big slide in profits was attributed to the lower in gains from digital table games that it distributes, sells and providers for shoppers.