Sega Sammy Considering Online Betting While Waiting For Japan IR Chances
Japanese entertainment conglomerate Sega Sammy Holdings Inc announces new “opportunities for domestic IRs [integrated resort] business could emerge within one to three years, ”but in the meantime, she may consider investing in online betting outside of Japan.
The Sega Sammy group had hoped to partner with a consortium featuring casino operator Genting Singapore Ltd in a tilt at a Yokohama casino complex, until October 1 that the Japanese city officially announced. ended his interest at auction.
Sega Sammy later said that the end of the Yokohama opportunity would have little impact on its business prospects.
Sega Sammy’s latest update, citing the prospect of further involvement in RI investing in Japan, came during management’s discussion with analysts and institutional investors about the group’s second quarter results. for the year ending March 31, 2022.
The group supplies casino gaming equipment through its Sega Sammy Creation Inc unit, also manufactures pachinko machines and provides digital home entertainment.
For the six months ended September 30, Sega Sammy Holdings made a profit of JPY12.01 billion (US $ 105.2 million), compared to a loss of just under JPY21.72 billion in the same period one year earlier.
Management representatives involved in the discussions with analysts were Haruki Satomi, group chairman and chief executive, and Koichi Fukazawa, senior executive vice president and group chief financial officer.
Key company spokespersons said during the discussion that pending further RI opportunities in Japan, there may be “opportunities to invest heavily in other areas, such as betting. online that are gaining strength abroad “.
If such scenarios were to occur, “there’s a chance we would prioritize them,” the Sega Sammy Group senior management commentary said.
As part of Japan’s liberalization program for casino operations, up to three resorts will be licensed nationwide. Currently, only three local communities are in the running to respectively host a large-scale casino complex. They are: Ossaka, Nagasakme and Wakayama.
Japanese government open on October 1st the application period for local authorities to present themselves as host to a casino complex, and announced the weighting it will give when scoring such requests. The deadline for submitting applications is April 28.