Japan’s Sega Sammy Holdings pointed to strong sales growth and a move into profit from its recently formed gaming business, despite group-wide sales falling slightly in the three months to 30 June 2024.
The company reported Wednesday consolidated sales of JPY104.8 billion, down 3.2% year-on-year, with operating income down 15.0% to JPY19.3 billion due mainly to a decline in the entertainment or computer games segment. However, group-wide profit attributable to owners of the parent grew by 42.1% to JPY24.5 billion.
Sega Sammy noted that, as part of the company’s Medium-term Management Plan released in May 2024, it had created a new Gaming Business comprising Sega Sammy Creation which develops, manufactures, and distributes gaming machines, Paradise Sega Sammy which is a joint venture with Korea’s Paradise Co that operates the Paradise City integrated resort in Incheon, and a new iGaming arm resulting from the 2023 acquisition of GAN Limited, which operates a B2B platform business mainly for US casino operators. The company also acquired last month Netherlands-based B2B iGaming content supplier Stakelogic B.V.
