Universal Entertainment back on black

    Universal Entertainment Corporation, posted net sales of $168 million (17,1 billion yen) representing a 201.7 percent increase year on year for the first quarter of the current consolidated fiscal year. 

    Kazuo Okada’s Universal Entertainment Group’s casino resort project in the Philippines, Manila Bay Resorts, is under way on the hotel towers with framework construction having reached the sixth floor, the company said, adding that the site features 4,000 workers at any given day. Development strategy of the project, including the opening schedule and financial policy is currently being finalized, Universal told the stock exchange.

    The electronic gaming machine developer (pachinko/ slots) met with an operating income of 3.7 billion yen, compared with an operating loss of 2,525 million yen in the same period of the previous fiscal year. Ordinary income was 2.5 billion yen, ordinary loss of 1.6 billion yen, and net income 720 million yen with a net loss of 1.2 billion yen, the company said on a stock filing.

    Having installed approximately 41,000 Pachislot units in the first quarter, the company’s Pachislot and Pachinko Business posted net sales of 16.3 billion yen, representing a 222.9 percent increase year-on-year, and an operating income of 6 billion yen in the same period.

    In the Content Distribution Business, sales were down slightly because of the falling market share of feature phones. As a result, operating income at Japan Amusement Broadcasting increased approximately 85.8% year-on-year.