GGRAsia – Konami gaming segment revenue up 51pct in year to Mar 31

Konami gaming segment revenue up 51pct in year to Mar 31

May 11, 2023 Newsdesk Industry Talk, Latest News

Konami Group Corp said on Thursday that revenue in its gaming and systems division – including casino equipment – rose by 50.5 percent year-on-year in the fiscal year ended March 31, 2023. Such revenue was just above JPY38.57 billion (US$286.9 million), compared to JPY25.63 billion in the previous 12 months.

The gaming segment recorded a profit of almost JPY5.17 billion in the 12 months to March 31, up 47.9 percent from a year earlier.

The gaming and systems division of the Japanese entertainment conglomerate’s business includes the supply of casino slot machines and casino floor management systems.

In the casino gaming segment, Konami Group operates outside Japan via Konami Australia Pty Ltd and U.S.-based Konami Gaming Inc.

Konami Group said on Thursday that the North American and Australian gaming markets had “regained their pre-Covid-19 energy” during the 12 months ended March 2023. “In other regions, the markets as a whole are also moving toward recovery,” it added.

The firm stated that, “despite the impact of soaring component costs caused by global supply chain disruptions”, profitability in its gaming segment had “recovered, due to various cost reduction initiatives” implemented by the company.

Looking ahead, Konami Group stated in a presentation accompanying the company’s results that it was planning to launch in the July to September period a new slot machine cabinet called Dimension Top Box, as part of its Dimension series. It will combine a 27-inch main monitor and a 49-inch monitor.

The firm said it expected revenue from its gaming segment to grow by 1.1 percent in the 12-month period ended March 31, 2024, and for profit to jump by 25.8 percent.

Konami Group is also involved in the Japan-focused pachinko games segment, digital entertainment – including video games and mobile games – and sports. Group-wide revenue for the period rose 4.9 percent year-on-year, to nearly JPY314.32 billion.

Profit for Konami Group in the 12 months to March 31 stood at almost JPY34.90 billion, down 36.3 percent from the prior-year period.