Japanese gaming giant Sega Sammy Holdings says the company is seeing strong growth at its Korean integrated resort, Paradise City, after reporting improved results in its resorts segment in the second quarter of its 2019 financial year.
Publishing its quarterly results announcement and company presentation on its website over the weekend, Sega Sammy reported a 60% increase in sales at Paradise City in the three months to 30 September 2018 to KRW64 billion (US$57.2 million), up from KRW40 billion 12 months earlier. Sales for the first six months of the 2019 financial year are up 108.1% to KRW 129 billion.
Sega Sammy owns 45% of Paradise City as part of a joint venture with Korean casino operator Paradise Co.
However, the company booked a significant decline in sales across all segments combined, down 12.2% for the first six months of the financial year to JPY171 billion (US$1.51 billion) due to sluggish sales in the pachislot and pachinko business.
The pachislot and pachinko segment fell 33.6% to JPY58.6 billion.
In its results presentation, Sega Sammy said that Paradise City had enjoyed record table drop in financial 2Q19 while also seeing increasing numbers of Japanese visitors over and above first quarter numbers.
It added that it will “implement various measures to attract visitors” throughout the coming quarters, aided by the recent launch of Phase 2 facilities including a shopping arcade, nightclub, boutique hotel Paradiso and art exhibition hall Paradise Art Space. More family facilities are scheduled to open in early 2019.
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