Japan’s Sega Sammy Holdings has reported profit attributable to owners of the parent of JPY12.01 billion (US$106 million) in the six months to 30 September 2021, reversing a JPY21.72 billion (US$192 million) loss from a year ago thanks to a 22.4% increase in net sales to JPY134.89 billion (US$1.19 billion).
The improvement came despite little movement in Sega Sammy’s resorts segment, comprising South Korean IR Paradise City – of which it holds a 45% stake – and local Japanese non-gaming property Phoenix Seagaia Resort.
According to details published overnight, Paradise City, a joint venture with Korean foreigner-only casino operator Paradise Co, saw table drop reach just 40.3% of 2020 levels and guest numbers just 58.4%, noting that 2020 table drop and guest numbers were already suppressed compared with 2019 due to the COVID-19 pandemic.
Guest numbers at Phoenix Seagaia Resort were 55% higher year-on-year in the six months to 30 September 2021 but still only 72% of 2019 levels.
As a result, net sales in the resort segment grew by 70.6% year-on-year to JPY3.83 billion (US$34 million) with an ordinary loss of JPY3.96 billion (US$35 million) – narrowed from a loss of JPY4.66 billion (US$41 million) a year earlier.
In the pachinko and pachislot segment, net sales grew by 117% to JPY23.34 billion (US$206 million) with a loss of JPY1.32 billion (US$12 million) improved from a JPY12.43 billion (US$110 million) loss in the prior year period. Sales of pachislot machines increased from 4,000 to 31,000 and pachinko machines from 11,000 to 23,000, “mostly in line with projections.”
Sega Sammy’s entertainment contents segment, comprising games for PCs and consoles, was its best performer, with net sales of JPY107.47 billion (US$949 million) driving a 34.7% increase in profit to JPY22.71 billion (US$201 million).
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