• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Universal Ent dips to 2019 loss despite Okada Manila boost

Feb 17, 2020 Newsdesk Japan, Latest News, Philippines, Top of the deck  


Universal Ent dips to 2019 loss despite Okada Manila boost

Japanese gaming conglomerate Universal Entertainment Corp swung to a net loss in year ending December 31, it said in a Friday filing.

Such loss was JPY5.19 billion (US$47.3 million) compared to a prior-year profit of JPY161.17 billion.

The 2019 loss was despite group net sales rising 34 percent year-on-year, to JPY124.94 billion, from JPY93.27 billion; and net sales at the group’s Philippine casino resort Okada Manila increasing 45.9 percent year-on-year to nearly JPY71.41 billion.

The firm did not recommend a dividend for 2019.

Universal Entertainment makes pachinko and pachislot machines as well as running Okada Manila via its unit Tiger Resort, Leisure and Entertainment Inc.

According to a results presentation filed the same day to Jasdaq, the 2019 balance sheet also included a JPY29.88 billion year-on-year in increase in “construction costs” – understood to be a reference to work at Okada Manila.

The main results filing stated: “At Okada Manila, the highest priority is to continue adding attractions and amenities.”

It added: “Construction of the Coral Wing (Tower B) is nearing completion. When finished, the resulting 993 guest rooms will give Okada Manila the largest hotel in Entertainment City gaming and entertainment complex.”

The control of the Tiger Resort entity has been disputed by Kazuo Okada, the founder and former chairman of Universal Entertainment.

Friday’s main results filing noted: “The pending litigations the company group currently have and the related costs are still ongoing although we already had advantageous decisions.”

But the group noted that  the litigation-related costs “are imposing substantial financial costs (high interest rate, costs for fund raising) on us.”

It further noted the group was continuing preparations to take public the Tiger Resort entity “at an early stage to accelerate its growth”. It added: “More information will be disclosed as soon as decisions are made.”


  • tweet
Related articles
  • Fitch flags Universal Ent founder spat, upgrade on Manila IR
    Fitch flags Universal Ent founder spat,...

    May 20, 2022  

  • Order to restore Kazuo Okada unclear, vague: Tiger Resort
    Order to restore Kazuo Okada unclear,...

    May 18, 2022  

More news
  • Wynn Macau Ltd asks managers to take 10pct wage in stock
    Wynn Macau Ltd asks managers to take...

    May 24, 2022  

  • Macau op debt to hit US$25bln unless travel eased 2H: MS
    Macau op debt to hit US$25bln unless...

    May 24, 2022  


Latest News

Wynn Macau Ltd asks managers to take 10pct wage in stock

Wynn Macau Ltd asks managers to take 10pct wage in stock

May 24, 2022  

Macau gaming operator Wynn Macau Ltd is asking some management-level staff to volunteer to take 10 percent of their monthly base pay in the form of company stock, according to a notice recently sent...
Read More
Macau op debt to hit US$25bln unless travel eased 2H: MS

Macau op debt to hit US$25bln unless travel eased 2H: MS

May 24, 2022  

Outbound group tours still paused: China immigration

Outbound group tours still paused: China immigration

May 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Resorts World Sentosa is now looking at broadening its customer base to those who engage in casual play for entertainment"

Tan Hee Teck

Genting Singapore’s president and chief operating officer



Most Popular

  • Macau GGR tax cut idea tied to China outlook: brokerageMacau GGR tax cut idea tied to China outlook: brokerage May 23, 2022
  • Review saw no irregularity in Levo Chan link: Macau LegendReview saw no irregularity in Levo Chan link: Macau Legend May 23, 2022
  • Manila Westside launch aim still 2024: SuntrustManila Westside launch aim still 2024: Suntrust May 23, 2022
  • RWS seeking to expand gaming customer base: execRWS seeking to expand gaming customer base: exec May 24, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us