Tag: Asia Pioneer Entertainment Holdings Limited

APE Announces Commencement of New Business Activity

This announcement is made by Asia Pioneer Entertainment Holdings Limited (“APE”; 8400.HK) on a voluntary basis. The purpose of this announcement is to keep the shareholders of the Company and the potential investors informed of the latest business development of the Group.

The board of directors wishes to inform the shareholders and the potential investors that the Group intends to commence sports and sports-related entertainment businesses, including sponsorship and promotion of sports events and operating sports entertainment venues in Macau, through APE Sports and Entertainment Limited, a wholly-owned subsidiary of the Company incorporated in Macau.

The Group is a total solutions provider of electronic gaming equipment (EGEs) for land based casinos in Macau as well as other regions in Asia. The Group’s existing business include (i) technical sales and distribution of EGEs to land based casinos; (ii) the repair of EGEs and sale of spare parts; (iii) consultancy to suppliers or manufacturers of EGEs to casino gaming supplier market; (iv) sales of refurbished EGEs; and (v) lease sales and leasing of EGEs. The Group has been actively exploring new business opportunities in order to diversify its income stream and bring a higher return to its Shareholders. Taking into account the increasing awareness of health and increasing demands for sports events in Macau, the Directors are of the view that the commencement of the New Business will be a good opportunity for the Group to diversify its income stream and may enhance the financial performance of the Group. Accordingly, the Board is of the view that the commencement of the New Business will be in the interest of the Company and the Shareholders as a whole.

The Group will conduct the New Business in compliance with the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited, and make further announcements in accordance with the GEM Listing Rules as and when appropriate.

For and on behalf of
Asia Pioneer Entertainment Holdings Limited
HUIE, Allen Tat Yan
Chairman and executive Director

Hong Kong, 24 June 2020
As at the date of this announcement, the executive Directors are Mr. HUIE, Allen Tat Yan (Chairman), Mr. NG Man Ho Herman (Chief Executive Officer) and Mr. CHAN Chi Lun (Chief Financial Officer); and the independent non-executive Directors are Mr. CHOI Kwok Wai, Mr. MA Chi Seng and Mr. HO Kevin King Lun.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief, the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Listed Company Information” page of the GEM website at www.hkgem.com for at least 7 days from the date of its publication. This announcement will also be published on the website of the Company at www.apemacau.com.

APE entered into the Operating Lease Agreement in Cebu Casino

Commences operating leasing business in the Philippines;
Further extends the Group’s footprints in Asia strategically

Asia Pioneer Entertainment Holdings Limited (“APE Holdings” or the “Company”, with its subsidiaries collectively referred as the “Group”; Stock Code: 8400.HK) is pleased to announce that its wholly-owned subsidiary, Asia Pioneer Entertainment Limited (“APE”) entered into an Operating Lease Agreement (“Agreement”) with Glimex Inc. (“Glimex”) on 31 January 2020, to lease electronic gaming equipment (“EGEs” or “Leased Equipment”) to Glimex, for use at Palace Casino located at JPark Island Resort in Cebu the Philippines, for a term of 24 months.

Pursuant to the Agreement, APE will place up to 86 units of Electronic Gaming Equipment (EGE) into JPark Palace Casino on an operating lease basis and will receive a variable rental income through Glimex of equivalent 22.5% of the Net Performance of each Leased EGE on a quarterly basis.

This Agreement is in addition to the existing 24 units of EGE that APE supplied under Finance Lease agreement with Glimex in Dec 2018 bringing the total number of EGE supplied to Palace Casino

Glimex is a company duly organised and existing under and by virtue of the laws of the Philippines and is principally engaged in the business of distribution of products in the power, energy and gaming sectors. Glimex is a sub-operator and has entered into an operating agreement with the operator which is the VIP tour operator concession owner of Palace Casino at Jpark Island Resort, the Philippines.

Mr. Chan, Tony Chi Lun, Chief Financial Officer and Executive Director of APE Holdings said, “As a total solutions provider of EGEs for land-based casinos in Macau as well as other regions in Asia, we are really excited to enter into this Operating Lease Agreement with Glimex, to extend our footprints in the Philippines. This is a strategic move for APE to scale our operating leasing business in Asia and we will devote ourselves to seize the opportunities generating from the demand from Glimex and the market in this country. In addition, we may further expand the operating leasing business in Macau and other counties in the South East Asia in the future.”

Mr. Arvin Gacrama, Vice President of Glimex Inc concluded, “We believe the co-operation between Glimex and APE will bring new innovations for Philippine licensed land based casinos to expand their equipment financing operations. We look forward to partnering APE in more business opportunities in the Philippines gaming sector to bring innovative products and financing solutions.

About Asia Pioneer Entertainment Holdings Limited
Asia Pioneer Entertainment Holdings Limited (“APE Holdings”) is a leading electronic gaming equipment supplier in Macau. It is listed on the Growth Enterprise Market of Hong Kong Stock Exchange, Stock Code: 8400.HK. APE Holdings was established in 2006 in Macau and is an approved gaming machine agent licensed by the Gaming Inspection and Coordination Bureau of Macau (DICJ). APE Holdings is a global distributor, presenting gaming manufacturers from Slovenia, US, Taiwan and Australia. For more information, please visit http://www.apemacau.com/.