Universal Entertainment expecting $165.3 million loss in 2021

Okada Manila

Universal Entertainment Corp is expecting to record a loss of JPY18.8 billion ($165.3 million) for the year ended December 31, 2021. 

The company based the estimates on the orders received in its Amusement Requirements Business, as well as the fourth-quarter results of Tiger Resort Leisure and Entertainment Inc, which operates Okada Manila in the Philippines. 

The forecasted loss is slightly narrowed from a loss of JPY19.2 billion in the prior-year period. 

Meanwhile, forecasted net sales is JPY90.4 billion, down slightly from JPY90.9 billion in 2021. 

The company has however refrained from making a forecast for the 2022 year, given “difficulties in computing the effects of the global spreading of the novel coronavirus on its full-year consolidated business results.”