Asia Pioneer Entertainment (APE), the electronic gaming equipment distributor out of Macau, did well for itself last year. The company has released its financial report for 2018 and certainly has the right to gloat a little about its performance. Net profit for the year increased by 361% year-on-year, reaching US$2.63 million.

The company’s improved performance came as it saw increased activity throughout Southeast Asia, primarily in the Philippines and Cambodia. APE’s largest division, technical sales and distribution, reported a year-on-year decrease of 10%, but two lease deals in those two countries are worth a combined $3.87 million.

APE reported that its revenue increased 27% over 2017, coming in at $13.96 million. This includes $8.359 million from technical sales and distribution, $1.083 million from technical service and consultancy, $471,480 from spare parts sales and $318.567 from the sale of refurbished electronic gaming machines.

Markets in Southeast Asia will continue to be a primary target for the company throughout this year. APE indicates that these “are growing quicker than Macau” in terms of activity.