• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 1 July 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Sega Sammy reports US$82 million loss for resort segment in FY21

Ben Blaschke by Ben Blaschke
Fri 14 May 2021 at 05:15
2021: Japan IR – Crunch time part 2

Japan’s Sega Sammy Holdings has a 45% stake in Paradise City, an integrated resort located in Incheon, South Korea.

21
SHARES
533
VIEWS
Print Friendly, PDF & Email

Japan’s Sega Sammy Holdings has reported a 90.7% decline in profit to JPY1.27 billion (US$11.6 million) for the financial year ended 31 March 2021, including a JPY8.98 billion (US$82.0 million) loss in its resort segment.

With the company’s three main business segments all impacted by the COVID-19 pandemic, Sega Sammy said its net sales for FY21 fell 24.2% year-on-year to JPY277.75 billion (US$2.54 billion), with operating income down 76.3% to JPY6.55 billion (US$59.8 million).

Its resort business, comprising integrated resort Paradise City in Incheon, Korea and non-gaming resort Phoenix Seagaia Resort in Miyazaki, Japan, net sales declined 39.7% to JPY6.32 billion (US$57.7 million).

Paradise City – a joint venture partnership with Korea’s Paradise Co of which Sega Sammy holds a 45% stake – saw the number of guests reach just 45.5% of FY20 levels while table drop reached only 33.8%.

“In the resort industry, demand for both domestic and overseas travel was dropped, resulting in a drastically reduced number of tourists due to the impact of COVID-19 and travel restrictions imposed by each country,” the company said in its results release.

The Pachislot and Pachinko Machines segment also suffered, with Sega Sammy noting that the purchasing motivation of hall operators significantly dropped in the first half of the fiscal year due to hall closures brought about by COVID-19.

As a result, pachislot machine sales fell from 123,000 in FY20 to 35,000, and pachinko machine sales from 104,000 to 69,000.

Segment net sales declined 51.0% to JPY53.20 billion (US$485.9 million) with an ordinary loss of JPY11.33 billion (US$103.5 million).

There was better news in the Entertainment segment however, comprising home video game and downloadable content, which reported a profit of JPY27.92 billion (US$255 million), up 71.6% year-on-year, despite a 12% decrease in net sales to JPY217.81 billion (US$1.99 billion).

Notably, Sega Sammy said it expects vastly improved results over the coming year including an ambitious profit target of JPY14 billion for its resort business – representing a 1,000% improvement over its FY21 loss.

“At Phoenix Seagaia Resort, the Group is working to strengthen the ability to acquire guests,” it said. “Overseas, the Group will continue to endeavor to accumulate further integrated resorts development and operational know-how through Paradise City.

“The business plan for the fiscal year ending 31 March 2022 is based on the assumption that demand will gradually recover throughout the fiscal year, despite the impact of COVID-19.”

RelatedPosts

Government flips on 48-hour NAT requirement for casino, construction workers after chaotic scenes across Macau

Government flips on 48-hour NAT requirement for casino, construction workers after chaotic scenes across Macau

Thu 30 Jun 2022 at 20:56
Testing stations in chaos as Macau casino employees flock to meet 48-hour NAT test rule

Testing stations in chaos as Macau casino employees flock to meet 48-hour NAT test rule

Thu 30 Jun 2022 at 13:03
Confirmed COVID cases in Macau reach 572 with more than 10,000 people under epidemiological investigation

Confirmed COVID cases in Macau reach 572 with more than 10,000 people under epidemiological investigation

Thu 30 Jun 2022 at 11:36

Vietnam visitor arrivals reach just 7% of 2019 levels between January and June but numbers on the rise

Thu 30 Jun 2022 at 06:07
Load More
Tags: covid-19JapanpachinkoParadise CityPhoenix Seagaia ResortSega Sammy Holdings
Share8Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial: Are Macau’s casinos running out of money?

Editorial: Are Macau’s casinos running out of money?

by Ben Blaschke
Wed 29 Jun 2022 at 21:47

Dominating discussions around Macau’s casino industry over much of the past 12 months has been the looming expiration of gaming...

Hengqin: The future of Macau

Hengqin: The future of Macau

by Wendi Song and Ben Blaschke
Wed 29 Jun 2022 at 20:54

The special economic zone of Hengqin is not only emerging as a critical infrastructure project for mainland China, it will...

Roadmap to 1 January

Roadmap to 1 January

by Andrew W Scott
Wed 29 Jun 2022 at 19:21

With Macau’s new Gaming Law passed by the Legislative Assembly on 21 June, IAG takes a look at the likely...

Branding and engagement in the metaverse

Branding and engagement in the metaverse

by Victoria White
Wed 29 Jun 2022 at 19:07

In Part 1 of this two-part series, we looked at the rising world of metaverses and NFTs. In Part 2...

Related Posts

Macau Jockey Club’s accumulated losses reach US$235 million in 2021

Macau Jockey Club’s accumulated losses reach US$235 million in 2021

by Newsdesk
Fri 1 Jul 2022 at 06:34

The Macau Jockey Club (MJC) has reported accumulated losses of MOP$1.9 billion (US$235 million) through 2021, according to information published in the Official Gazette. The figure is calculated as the total amount of losses since the company’s incorporation, with annual...

Century Entertainment’s mass table gaming business on hold as Cambodian outbreak delays new casino opening

Century Entertainment looking to launch Cambodian table gaming business in September

by Newsdesk
Fri 1 Jul 2022 at 06:10

Hong Kong-listed Century Entertainment International Holdings Ltd says it hopes to launch operations of its gaming table business at a new casino in Dara Sakor, Cambodia, by late September following a series of setbacks. Announcing its financial results overnight for...

The Star Gold Coast

Queensland government appoints former judge to lead Star inquiry, releases terms of reference

by Ben Blaschke
Fri 1 Jul 2022 at 05:29

The Queensland state government has appointed former judge Robert Gotterson AO to lead an inquiry into Star Entertainment’s Group’s Brisbane and Gold Coast casinos, starting this month. Gotterson will be tasked with ensuring Queensland casinos are “are operated lawfully, ethically...

IAG Vice-Chairman and CEO Andrew W Scott to appear as special guest on Deep Knowledge Investing webinar discussing Macau’s new gaming law

IAG Vice-Chairman and CEO Andrew W Scott to appear as special guest on Deep Knowledge Investing webinar discussing Macau’s new gaming law

by Newsdesk
Fri 1 Jul 2022 at 04:59

What: Deep Knowledge Investing webinar with Inside Asian Gaming’s Vice Chairman and CEO Andrew W Scott, "The future of the Macau casino gaming industry" When: Wednesday 6 July at 7pm New York time (Thursday 7 July at 7am Macau time)...


HKUST

HKUST

Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About
  • 中文
  • 日本語

© 2005-2022
Inside Asian Gaming.
All rights reserved.