Welcome recovery for Sega Sammy Holdings Incorporated

In Japan and gaming conglomerate Sega Sammy Holdings Incorporated has reportedly released its financial results for the twelve months to the end of March showing that its net sales had increased by 15.6% year-on-year to top $2.48 billion.

According to a report from Asia Gaming Brief, this success pushed the Tokyo-listed firm’s twelve-month net profit up to approximately $286.05 million from only about $10.04 million for the preceding period. The source detailed that this result also saw the individual value of the behemoth’s shares swell by some 6.3% over the weekend to reach as high as $18.44.

Prestigious position:

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.

Rising receipts:

Yokohama-headquartered Sega Sammy Holdings Incorporated reportedly explained that it sold roughly 77,800 pachislot machines during the twelve months to the conclusion of March, which was more than double the 35,273 it offloaded over the course of the previous financial year, and saw its associated pachinko sales grow by more than 40.5% to 97,027 units. The Japanese company purportedly furthermore disclosed that all of this boosted its net pachislot and pachinko sales for the period by 42.6% to upwards of $586.21 million.

Health headache:

Regarding its resorts business and Sega Sammy Holdings Incorporated reportedly divulged that it had experienced a boost of 37.1% year-on-year in net twelve-month sales to around $67.19 million despite sluggish demand due to fears over the local spread of coronavirus. However, the firm purportedly noted that this lethargy had quickly abated whenever its home nation was not under a pandemic-related state of emergency.

International interruption:

Sega Sammy Holdings Incorporated reportedly asserted that visitor numbers at its Phoenix Seagaia Resort for the three months to the end of 2021 had exceeded those of the prior year period although Paradise City experienced a comparable drop off of 43.1% owing to the numerous restrictions on foreign visitors travelling to South Korea.

Reportedly read a statement from Sega Sammy Holdings Incorporated…

“Assuming that the restrictions on activities due to coronavirus are eased, the group expects Phoenix Seagaia Resort to return to profitability and Paradise City to reduce its loss compared with the previous fiscal year.”

Considered confidence:

Looking further ahead and Sega Sammy Holdings Incorporated reportedly declared that it expects the recent pachislot and pachinko success to continue throughout the current financial year to help its overall net sales for the twelve-month period to escalate by something like 16.8% year-on-year and exceed $2.89 billion.