Universal Entertainment sales down 17.5%
The company reported a drop in sales for the first nine months of the year due to the impact of the pandemic crisis.
Japan.- Gaming company Universal Entertainment Corp saw revenues for the first nine months fall by 17.5 per cent year-on-year to JPY77.14bn (US$735m).
The company attributes the fall to lower revenue at its casino resort Okada Manila, which has been heavily impacted by the restrictions imposed by the government to contain the spread of Covid-19.
Despite recording an operating profit for the reporting period, net loss has grown as some facilities at Okada Manila that have not been used during the suspension of operations were reclassified from selling, general and administrative expenses, to an extraordinary loss.
Universal Entertainment makes pachinko and pachislot games for the Japanese domestic market.
An extensive lockdown for Metro Manila, including for its large casino resorts in Entertainment City, was announced in mid-March. Casinos have been allowed to resume gaming operations at limited capacity since June.
