Wednesday, August 10, 2022

APE expects to record loss in 20Q1


Hong Kong-listed Pioneer Entertainment said it expects to record an unaudited loss of approximately HK$4 million for the three months ending March 31, 2020, due to a slowdown caused by the coronavirus. 

The group is expected to record a 70 percent decrease in revenue to HK$2.3 million, down from HK$7.9 million in the prior-year period due to a reduction in new orders from its major customers - the Macau casino operators. 

The company explained that the temporary closure of casino operations during February has delayed and canceled orders.

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