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Fiona Simmons November 3, 2022 2 min read
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Sega Sammy Holdings Sales Soar Despite Profit Downturn
Sega Sammy Holdings, the prominent Japanese gaming giant which builds products for the video gaming and land-based gambling industry, has reported its latest financial results. The company has focused on the six months that ended on September 30, 2022. During the period, the company saw a 19.9% decrease in profit to JPY9.62 billion ($65.3 million). This comes despite an increase in net sales to JPY150.1 billion ($1.02 billion), an 11.3% increase.
Sega Sammy Holdings Reports Strong Sales
Meanwhile, sales in the resort’s business skyrocketed by another 47.4% year-over-year, to JPY5.65 billion ($38.4 million). Sales also increased for the company’s pachinko sales, which went up to JPY27.5 billion ($186.7 million), or up 18%. The company has ties with two resorts presently, including Paradise City in Incheon, South Korea, and the Phoenix Seagaia Resort in Miyazaki, Japan.
Paradise City continued to fill the sting of a world that is slowly awakening from the COVID-19 pandemic and that is lacking sufficient travelers to make up for pre-pandemic demand. As such, the loss was posted at JPY2.39 billion ($16.2 million), which was still down from a year ago. Sega Sammy noted that there has been some uptick in the number of Japanese VIPs, which were venturing out to Group locations as restrictions have been easing up.
Sega Sammy though is not going to relent in its pursuit of customers. Rather, the Group has confirmed that it will make sure that it invests more in customer acquisition, an important metric for companies that pursue long-term growth. Sega Sammy has been rolling out refurbished gaming cabinets and solutions to make sure that its businesses remain as attractive as ever:
The introduction of No. 6.5 models as a new regulation responding to the revision of regulation has been progressing since June 2022, and titles supported by users have appeared one after another with the recovery of utilization level after their introduction.Sega Sammy Holdings
Pachinko Gaming Machines DO Well over the Six Months
Sega Sammy teased new pachinko gaming machines that will be coming in the spring of 2023. The Group has been able to notch up overall sales in terms of pachislots and pachinko machines by 34,000 units, as mentioned earlier.
This is up from the 31,000 pachislots sold over the last year. Overall, Sega Sammy remains confident about its forecast of consolidated financial results for the fiscal year that will end on March 31, 2023. The forecast was first introduced on May 13, 2022, the company informed.
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
Business November 3, 2022
Business November 3, 2022