Universal Entertainment posts US$48m loss for Q1

Universal Entertainment has reported a net loss of JPY5.2bn (US$48m) for the first three months of the year due to the Covid-19 pandemic.

Japan.- Gaming company Universal Entertainment Corp has published its financial results for the first quarter of the year, reporting net sales down 64 per cent year-on-year at JPY14.7bn (US$134.1m).

The Amusement Equipment business saw sales fall to 12,708 units compared with 52,631 units in the same period of 2020. Its net sales were JPY5.38bn, down 78.2 per cent year-on-year.

Universal reported a net loss of JPY5.2bn (US$48m), which it attributed to restrictions at Okada Manila.

The Okada Manila Integrated Resort had been operating limited to a capacity of 30 per cent but has been closed since March.

The Philippines’ president has recently announced that Metro Manila will ease Covid-19 countermeasures, but casinos have not yet announed plans to reopen.

The number of pachinko and pachislot machine orders in Japana also remains low due to uncertainly over when the Covid-19 crisis will end.