Sega Sammy sees sharp decline in profitability in Q2
Sega Sammy Holdings has released new financial data showing a 35.8 percent decline in sales revenue in the April-June 2018 period as compared to the same period last year, which resulted in a sharp 97.1 percent decline in net profitability.
The total sales revenues for the quarter were JPY68.8 billion (US$620 million), while the net profit was only JPY337 million yen (about USD3 million).
The revenue and profitability decline occurred across multiple segments, but the drop off in pachinko and pachislot machine sales was particularly pronounced.
Sega Sammy gave optimistic accounts of its resort and IR prospects, noting that the Phoenix Seagaia Resort in Miyazaki is losing less money than previously and that Paradise City in Incheon, though still in the investment phase, is already drawing many Japanese visitors in particular.
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.