ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Feb 17, 2020 14:00 JST
Source:
Asia Pioneer Entertainment Holdings Limited
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
HONG KONG, Feb 17, 2020 - (ACN Newswire) - 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 62 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 86 units 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/
.
Source: Asia Pioneer Entertainment Holdings Limited
Sectors: Daily Finance, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Mitsubishi Shipbuilding Holds Christening and Launch Ceremony of LNG-Powered Roll-on/Roll-off Ship TRANS HARMONY EMERALD in Shimonoseki
Nov 15, 2024 18:58 JST
Nationwide TV Commercial Launched in Japan to Raise Awareness About MCI (Mild Cognitive Impairment)
Nov 15, 2024 17:33 JST
Eisai Receives Positive Opinion from the CHMP in the European Union for Lecanemab in Early Alzheimer's Disease
Nov 15, 2024 14:31 JST
Resorttrust Group and Mitsubishi Corporation Launch Joint Study in Medical Tourism
Nov 15, 2024 12:32 JST
Fujitsu collaborates with global suppliers in decarbonization initiative to exchange product-level primary data on CO2 emissions
Nov 15, 2024 10:13 JST
TANAKA Successfully Develops the World's First[1] Manufacturing Technology for Platinum Materials with Nano-Sized Crystal Grains
Nov 15, 2024 04:00 JST
myBillBook Leverages CleverTap to Elevate Customer Engagement and Drive Revenue Growth
Nov 14, 2024 20:00 JST
ULVAC Launches Oil Rotary Vacuum Pump Gv135
Nov 14, 2024 10:00 JST
MHI Publishes MHI REPORT 2024
Nov 13, 2024 16:52 JST
SoftBank Corp. and Fujitsu Strengthen Partnership for Realization of AI-RAN Commercialization
Nov 13, 2024 12:38 JST
Predictive Heart Monitoring Startup, GPx, Secures New Investment From NEC X; Joins Elev X! Boost Venture Studio Program
Nov 13, 2024 12:05 JST
NEC receives order for next-generation supercomputer system from Japan's National Institutes for Quantum Science and Technology and National Institute for Fusion Science
Nov 13, 2024 11:16 JST
All-New Triton Wins Special Award at the RJC Car of the Year for 2025
Nov 12, 2024 22:09 JST
Toyota: HySE to participate in the Dakar 2025 "Mission 1000 ACT2" with the HySE-X2, to tackle further technical challenges
Nov 12, 2024 20:04 JST
NEC participates in COP29 climate change conference
Nov 12, 2024 19:25 JST
JA Mitsui Leasing and Fujitsu collaborate on simulation-driven field trials to optimize commercial EV adoption and drive decarbonization
Nov 12, 2024 13:57 JST
Macnica publishes Integrated Report on the theme of 'An Introductory Guide to Macnica's Mechanism'
Nov 12, 2024 13:00 JST
Hitachi: Established the Open Source Program Office (OSPO) to Globally Lead the Strategic Utilization of OSS
Nov 11, 2024 10:31 JST
Transgene and NEC Present New Data Confirming Clinical Proof of Principle for Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at SITC 2024
Nov 08, 2024 10:31 JST
Hitachi High-Tech and University of Tokyo Promote Joint Research for the Practical Application of High-resolution Laser-PEEM in the Semiconductor Field
Nov 07, 2024 18:19 JST
More Latest Release >>
Related Release
APE Digital Creations Ltd. Publishes Whitepaper on Resortverse
July 25 2022 10:55 JST
Asia Pioneer Entertainment Launches its first virtual Macau Tourism Project in The Sandbox Metaverse
May 31 2022 15:41 JST
Asia Pioneer Entertainment Launches its first NFT Series: Asia Tigers Club enter the Metaverse
May 04 2022 17:49 JST
APE Introduces Full-range Electronic Gaming Equipment to New Integrated Resort Hoiana in Vietnam
July 08 2020 13:00 JST
APE Announces Commencement of New Business Activity
June 26 2020 21:05 JST
APE recognized as one of the inaugural fastest-growing companies in "Growth Champions of the Greater Bay Area 2020" by SCMP
December 19 2019 13:04 JST
APE Announces 2018 Annual Results
March 20 2019 11:05 JST
Fortune Cup Horse Racing Machine Debuts in Macau
March 04 2019 08:30 JST
Asia Pioneer Entertainment Holdings Limited Revenue Soars 63.7% in 2017
March 20 2018 21:19 JST
APE Proposed Listing on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited
October 30 2017 19:35 JST
More Press release >>