Universal Entertainment net sales down 20.7% in Q2

Okada Manila

08/12/24

The decline was attributed to the poor performance of the leisure equipment and integrated resort businesses.

The Philippines.- Universal Entertainment Corp has shared its financial results for the second quarter of the year. It recorded net sales of JPY62.9bn (US$429m). That’s a decline of 20.7 per cent when compared to last year, mainly attributed to a drop in the net sales of its leisure equipment and integrated resort businesses.

Operating profit was down 69.6 per cent year-on-year to JPY3.26bn (US$22.2m), while ordinary profit was down 80.4 per cent to JPY5.57bn (US$38.0m). The company’s net income attributable to owners of the parent fell 97.5 per cent to JPY525m (US$3.6m).

Okada Manila’s performance was down year-on-year but, similar to the first quarter. The number of VIP guests was down due to the slowdown of the junket business. Although the performance of the mass market and gaming machine sectors was lower than the previous year, the company said sales are steadily increasing. In the hotel, food, and beverage businesses, the number of guests remains high.

In the first half of the year, the integrated resort business posted net sales of JPY41.68bn (US$284.3m), down 13.1 per cent year-on-year. Operating profit was down 55.1 per cent at JPY3.28bn (US$22.4m). In the amusement equipment business, sales decreased by 32.6 per cent to JPY20.76bn (US$141.6m), with operating profit falling by 51.1 per cent to JPY3.76bn (US$25.7m).

In the pachinko sector, the company said deliveries of machines with a lucky trigger function, which allows players to win more balls had started but were currently somewhat slow in comparison with the pachislot category.”

Other businesses generated sales of JPY202m (US$1.4m), down 53 per cent year-on-year, and an operating profit of JPY169m (US$1.2m), a decrease of 10 per cent year-on-year.

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