Net income attributable to parent owners was up 147.2 per cent in year-on-year terms.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0Universal Entertainment<\/strong>\u00a0has shared its financial results for the fiscal year 2023. The company posted net sales of JPY179bn (US$1.2bn),\u00a0up 26 per cent year-on-year<\/a>\u00a0and an operating profit of JPY30.5bn (US$203m), up 152 per cent.<\/p>\n\n\n\n Universal Entertainment posted a 147.2 per cent increase in net income attributable to owners of the parent at JPY28.4bn (US$189m) in 2023. A large part of the company’s strong performance was attributed to its\u00a0amusement equipment business<\/strong>, where sales and earnings rose due to high demand for machines that comply with the 6.5 standard and smart Pachislot devices.<\/p>\n\n\n\n In the integrated resort business, the company said visitors to Okada Manila steadily increased<\/strong>. It said it will target demand within the Philippines. <\/p>\n\n\n\n Okada Manila posted net sales of JPY96.9bn (US$646.3m), up 35.1 per cent year-on-year, and an operating profit of JPY14.3m, up 280 per cent. Adjusted segment EBITDA was JPY29.9m in 2023, up 54.9 per cent.<\/p>\n\n\n\n According to the company, “Overall, EBITDA after adjustments rose to a record high in 2023 in the IR despite a temporary downturn in revenues caused by an IT system problem.”<\/p>\n\n\n\n For 2024,\u00a0Universal Entertainment anticipates an 11.7 per cent increase in net sales to JPY200bn (US$1.33bn) and a decline in profit attributable to parent shareholders of approximately 31 per cent to JPY130m (US$19.6bn).<\/p>\n\n\n\n