Universal Entertainment has reported that it expects to post a loss of JPY18.8bn (US$165.3m) for the year.
Japan.- The gaming company Universal Entertainment Corp has announced its projected results for the year ending 31 December 2021. It expects to post a 29.5 per cent dip in operating profit to JPY1.88bn (US$15.8m) and sales of JPY90.4bn, which represents a decline of 0.5 per cent year-on-year.
The company expects a loss attributable to Okada Holdings of JPY18.8bn (US$165.3m), down 21 per cent when compared to the previous year.
In the last quarter, Okada Manila’s gross gambling revenue grew 68.2 per cent quarter-on-quarter to PHP7.01bn (US$137m). Okada Manila’s full-year GGR was PHP18.92bn, up 23.4 per cent when compared to the previous year. However, the figure was below the numbers seen prior to the Covid-19 pandemic.
In October, Okada Manila signed a US$2.6bn merger agreement with 26 Capital Acquisition Corp that let the company go public in the United States. It is expected the merger will close in the first half of next year and it will provide the casino operator with US$275m in cash proceeds that will be used for growth and other corporate purposes.