Universal H1 results get boost from pachinko and pachislot sales

Universal Entertainment bucked the trend by reporting a group-wide 24.9 percent increase in net sales for the first half of 2020, with brisk pachinko and pachislot sales overcoming losses at Okada Manila.

The total net sales were JPY65.6 billion (US$619 million), producing an operating profit of almost JPY12.7 billion for the half.

The positive news was confined to the amusement equipment business, whose net sales of JPY48.9 billion represented a year-on-year increase of 141.8 percent. Several new pachislot titles produced sales volumes that exceeded the firm’s expectations.

Meanwhile, the closure of Okada Manila since March 15 has produced the expected negative outcomes. Net sales for H1 stood at JPY16.1 billion, down 48.8 percent year-on-year. Operating losses have been JPY5.3 billion.

The filing noted, “Okada Manila is currently creating a business resumption plan so that operations can restart as soon as casinos are allowed to reopen. As the Covid-19 crisis has not ended, Okada Manila will continue to maintain the highest possible level of hygiene after the restart of operations in order to prevent Covid-19 infections.”

The company also reported that it had JPY40.4 billion as of the end of June.