Published
Financial

Universal Entertainment reports decline in net sales

Universal Entertainment Corporation has reported net sales of JPY77.14bn ($734m) for the first nine months of 2020, an 18% year-on-year decline. 

shutterstock_1430849957

The Japanese gaming conglomerate says that much of the decline came from reduced revenue at its casino resort Okada Manila, which has several safety restrictions in place due to the ongoing COVID-19 pandemic. 

The group itself makes pachislot and pachinko games for the Japanese domestic market, while its subsidiary, Tiger Resort, Leisure and Entertainment Inc, operates the Okada Manila in the Philippines. 

Sales in Universal Entertainment’s amusement equipments business represented the majority of revenue, with the company increasing the number of units sold from 92,673 in 2019 to 125,325 in 2020. 

Such sales resulted in revenue of JPY55.55bn, an increase of 31% from 2019, and an operating profit of JPY22bn, an increase of 116%. 

Metro Manila, the National Capital Region of the Philippines, has been subject to both extensive and more relaxed lockdowns since March, while casino resorts in Entertainment City have been allowed to resume operations at limited capacity. 

Universal Entertainment announced in September that its Okada Manila casino had been given the green light to operate slots and gaming tables at 30% capacity. 

“Okada Manila has resumed part of its operation in accordance with the government’s guidelines,” a statement from the company read. 

“Nevertheless, the impact of COVID-19 has not ended. Okada Manila will continue to maintain high levels of hygiene management to prevent infection.” 

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...