Sega Sammy Holdings Incorporated hails second-quarter improvement

Japanese gaming conglomerate Sega Sammy Holdings Incorporated has reportedly released its financial results for the three months to the end of June showing that its net profit improved by over 189% year-on-year to approximately $26.7 million.

According to a report from Inside Asian Gaming, the encouraging result for the Yokohama-headquartered behemoth comes after it chalked up a deficit of about $29.9 million for the same three-month period last year owing to the disastrous impacts of the coronavirus pandemic. The source detailed that the most recent figure also equates to an advance of some 1.5% when set aside the $26.3 million net profit the company made for the initial three months of 2021.

Diverse portfolio:

Sega Sammy Holdings Incorporated is one of the world’s largest producers of in-home video and land-based arcade games while moreover supplying pachinko and pachislot titles to facilities across the length and breadth of its home nation. The heavyweight is additionally responsible for the non-gaming Phoenix Seagaia Resort on the southern Japanese island of Kyushu while holding a 45% stake in South Korea’s Paradise City integrated casino resort.

Prominent producer:

Furthermore currently working in partnership with Genting Singapore Limited in hopes of being given permission to bring an integrated casino resort to the Japanese city of Yokohama, Sega Sammy Holdings Incorporated reportedly disclosed that its positive second-quarter performance came largely as a result of increased volumes from its pachinko, pachislot, arcade and video games dealings.

Tokyo-listed Sega Sammy Holdings Incorporated reportedly divulged that its overall revenues for the second quarter had increased by 22.9% year-on-year to hit roughly $539.3 million with almost 80% of this amount at around $430.4 million having been generated by its games businesses. It purportedly also asserted that net pachislot and pachinko sales had swelled by 283% to slightly beyond $94 million as its associated segment loss grew by 82.5% to $13.5 million.

Comforting comeback:

The Japanese goliath moreover reportedly revealed that net second-quarter sales tied to its Phoenix Seagaia Resort and Paradise City enterprises had climbed by 234% year-on-year to $14.1 million while its related segment loss recovered by 8.4% to a deficit of $17.8 million.

Enduring uncertainty:

Sega Sammy Holding Incorporated reportedly finished by proclaiming that it now intends to continue strengthening its efforts at attracting guests to its Phoenix Seagaia Resort and Paradise City properties by ‘mainly focusing on demand from individual customers’. However, the company purportedly maintained that this process may take a bit longer in South Korea owing to continuing uncertainty over how long this nation’s government will be maintaining a range of ongoing coronavirus-related travel restrictions.