HONG KONG, June 27, 2020 - (ACN Newswire) - This announcement is made by Asia Pioneer Entertainment Holdings Limited
) 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