GGRAsia – Dynam posts modest profit increase

Dynam posts modest profit increase

May 30, 2014 Newsdesk Japan, Latest News, Top of the deck

Japanese pachinko hall manager company Dynam Japan Holdings Co Ltd posted a profit increase of 1.9 percent for the year ended March 31, to JPY21.3 billion (US$209.9 million).

The company said in a filling to the Hong Kong Stock Exchange on Thursday its revenue for the period was JPY165.8 billion, up by 1.1 percent.

The company operated 375 pachinko halls in Japan by March-end, 13 more than a year before. Dynam plans to have 1,000 pachinko halls by March 2023.

The board declared a final dividend of JPY7 per ordinary share.

Dynam also stated it “will seek to have a space” in Japan’s casino industry, if gambling is legalised in the country. But it admitted timing for the development of casinos in Japan “remains unclear”.

Dynam is an investor in Macau casino services firm Macau Legend Development Ltd, having invested US$85 million in the company since June last year. The two companies signed a memorandum of understanding last year for Dynam to install in Macau next-generation pachinko machines, which consist of a monitor, having no actual balls or pins, and which are targeted at the mass market.

The deal with Macau Legend includes management of entertainment facilities and food and drink shops at Macau Legend’s Fisherman’s Wharf. The latter is currently undergoing a facelift.

According to corporate information published by Dynam, its competitors in the pachinko market have tried twice in the past to introduce pachinko machines in Macau, but neither attempt was successful.