Okada drives Universal Ent net sales in 19H1

Thursday 8th of August 2019

Universal Entertainment saw its net sales increase 12.9 percent to JPY52.5 billion in the first half of 2019, boosted mainly by growth across all segments at Okada Manila.

In a filing on Wednesday, Universal Entertainment an increase in the number of guests at Okada Manila in the period, along with growth in VIP, mass-market table games and machines during the period.

Net sales from its IR business increased 45.2 percent year-on-year, reaching JPY31.4 billion.

Hotel room occupancy rate also remained “extremely high” throughout the period, with average daily room rate about P10,000.

Okada said this was helped by the opening of all the rooms in Hotel Tower A in 18Q4.

However, while its IR business did well, Universal recorded a decrease in net sales in its Pachislot and Pachinko business. It also registered a decrease in sales in its media content business.

The company, however, swung to a net loss of JPY9 billion in the first half of 2019, due to the absence of more than JPY64.6 billion in interest income that was received in 18H2.

Looking ahead, Universal said it will aim to continue adding attractions and amenities at its Okada property. The company expects VIP casino revenue to continue growth with the addition of new junkets and more demand from existing junkets.

Mass market table games and gaming machine revenue will also continue to grow as the property ramps up new casino marketing initiatives and increases its room capacity with the work on Hotel Tower B.

Regarding its Pachinko business, Universal has released a number of new titles, including “P High School Fleet” and SLOT Puella Magi Madoka Magica: The Movie-Rebellion,” which has garnered a strong reputation amongst players.

“These activities demonstrate how Universal Entertainment is taking on the challenge of responding to changes in the business climate with new measures and original ideas. The aim is to adapt with flexibility and speed to changes in the market and development environment due to the enactment of revised rules. The ultimate objective is to create Pachislot and Pachinko titles that will help Pachinko halls attract more customers,” it said.