Universal Ent reports financial results

The gaming operator reported sales of €522 million for the first nine months of the year.

Japan.- Universal Entertainment has released its latest figures, which indicate that net income totalled €1.3 billion and net sales were €522 million for the first nine months of the current year.

During the nine-month period, the company reported €247 million in net sales from its Pachislot and pachinko business, which are the verticals that bring in the biggest revenue for Universal Ent. Operating loss totalled €14k for the division. Net sales at the Okada Manila casino were €267 million while operating loss stands at €37.4 million during the nine-month period.

“Demand for new machines is currently sluggish at pachinko halls because of uncertainty about how people will respond to new titles that comply with the new rules fo pachislot and pachinko,” said Universal Ent in a filing.

“In the fourth quarter, additional hotel rooms are expected to open. This will help support continued growth in the casino business as well as better position the resort to host large group events and foreign tour groups,” said the company. “VIP casino revenues are expected to continue growing driven by the addition of new junkets, and improved room supply and amenities attracting more demand from existing junkets,” it added.