Universal Entertainment Corp., a Japanese manufacturer of pachinko, slot machines, and various arcade games, announced that it is planning to pay out the amount of JPY2.2 billion or US$18.6 million in dividends.
At present, the company is also an investor in the Philippine-based Manila Bay Resorts, one of the integrated resorts in the so-called Entertainment City, which is expected to open doors at some point in 2015.
Universal Entertainment stated that it will pay a dividend of JPY30 or US$0.25 per share to its listed shareholders as from March 5, 2015. The company pointed out in its filing on the matter that the date is an extraordinary record one for this financial year only.
Universal Entertainment made this decision due to the “brisk” performance of its pachinko and slot machines division.
On Friday, February 13, the company pointed out that its consolidated net income for the first nine months of this fiscal year, which is set to end in March 31, 2015, increased 42% as compared to what was posted a year ago.
According to Universal Entertainment’s report, the amount of JPY1.8 billion was generated during the above-mentioned period. In comparison, the company’s consolidated net income amounted to JPY1.3 billion in the first nine months of the previous fiscal year.
Consolidated net sales for the same nine-month period grew by 17.3% to reach a little over JPY47 billion. Net sales in the pachinko and pachislot segment marked a 17% increase to reach JPY44.9 billion. The growth was partly attributed to the introduction of five new pachislot games.
Universal Entertainment also revealed certain details concerning the construction of its US$2.3-billion project Manila Bay Resorts. As already mentioned, the Philippine-based venue is currently under construction and it seems that it has been added three more floors in the three-month period ended Decmeber 31, 2014.
The company shared that the construction of Manila Bay Resorts is “well underway” and the 12th floor of the framework has been reached.
However, a completion date is yet to be announced. Back in September 2014, the integrated resort’s developer Tiger Resort, Leisure and Entertainment Inc., a company, owned by Japanese magnate Kazuo Okada, stated that the property’s construction was on schedule and the first phase of the project is to be completed and ready to welcome visitors towards the end of 2015.
According to initial information, Manila Bay Resorts’ first phase is expected to feature a large casino floor with 3,000 slot machines and 500 gaming tables, luxurious hotels, restaurants, nightclubs, etc.
