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Universal Entertainment Corp expecting to report US$165 million loss for FY21

by Newsdesk

Sun 23 Jan 2022 at 23:33

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Japan’s Universal Entertainment Corp says it is expecting to report a loss of JPY 18.80 billion (US$165.4 million) for the year ended 31 December 2021.

The estimate, published Friday, is based on the 4Q21 performance of Philippines integrated resort Okada Manila and the status of orders received for its Amusement Equipment Business (pachinko and pachislot).

Universal had previously refrained from offering any estimates for the year.

As recently reported by Inside Asian Gaming, Okada Manila operator Tiger Resort, Leisure and Entertainment, Inc (TRLEI) recorded GGR of Php7.01 billion (US$137.4 million) in Q4, up 68.1% quarter-on-quarter, with Adjusted Segment EBITDA of Php1.37 billion (US$26.9 million).

According to its latest forecast, Universal is anticipating net sales of JPY 90.4 billion for FY21, slightly down from sales of JPY 90.87 billion in 2020. The company recorded a 2020 loss of JPY19.22 billion (US$169.0 million).

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Tags: 2022 Japan loss Okada Manila pachinko Universal Entertainment Corp

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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