Sega Sammy Holdings’ financial report issued on Wednesday showed the firm recording rising sales and soaring profits.
Net sales for the year ending March 31 came in at JPY366.6 billion (US$3.4 billion), which represented a 10.5 percent increase, but the profits attributable to the owners was almost 13.8 billion, a 421 percent year-on-year rise.
The pachinko and pachislot machine segment recorded net sales of JPY108.4 billion, an increase of 6.8 percent, and operating income was JPY24,9 billion, an increase of 84.8 percent.
At the Phoenix Seagaia Resort, net sales in this segment were JPY10.4 billion, but the facility has yet to achieve profitability.
The company did not offer any forecasts for the coming year, observing that “the current global pandemic of the Covid-19 is spreading and at this point it is not possible to predict when it will come to an end. In addition to this, there are concerns over other various uncertainties, including the impacts from the spread of Covid-19 on domestic and overseas economic activity, the sense of uncertainty over the economic outlook, and restrictions over consumer activities.”
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.