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Japan’s Universal Entertainment Sees Mixed Q1 Results

May 16, 2024 JapanPhilippines Casino & HotelIndustry Updates

Mixed results were reported by Universal Entertainment for the first quarter of 2024. Its integrated resort business declined as its amusement equipment business grew.

At JPY34.4 billion (US$220 million), overall net sales decreased 3% year over year, mostly as a result of a 15.5% decline in net sales at the Okada Manila resort in the Philippines.

The decline in VIP gaming revenue was attributed to a slowdown in the junket business.

But the Amusement Equipment Business of the corporation, which sells pachinko and pachislot machines, did better. Due to the strong demand for new smart Pachislot machines, unit sales rose by 11%.

Operating profit climbed by 26.7%, whereas net sales increased by 24.4% in this area.

Universal’s net profit attributable to owners climbed 17.1% year over year to JPY3.45 billion (US$22.1 million) despite its uneven performance.

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Original Story by: Inside Asian Gaming

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