{"id":8515,"date":"2025-02-19T12:09:57","date_gmt":"2025-02-19T12:09:57","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=8515"},"modified":"2025-02-19T12:10:05","modified_gmt":"2025-02-19T12:10:05","slug":"universal-entertainment-corp-posts-102-million-loss-in-2024","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/02\/19\/universal-entertainment-corp-posts-102-million-loss-in-2024\/","title":{"rendered":"Universal Entertainment Corp Posts $102 Million Loss in 2024"},"content":{"rendered":"\n<p>A decline in VIP gaming at the company&#8217;s Philippine integrated resort <strong>Okada Manila<\/strong> and a sharp drop in domestic sales of pachislot and pachinko machines have pushed Japanese gaming company <strong>Universal Entertainment Corp (UEC) <\/strong>to a loss of <strong>15.6 billion yen (US$102.5 million) <\/strong>for 2024. A year earlier, the company reported a net profit of <strong>28.4 billion yen (US$186.5 million)<\/strong>.<\/p>\n\n\n\n<p>In a series of reports, UEC noted that Okada Manila posted net revenue of <strong>\u00a582.0 billion<\/strong> in fiscal 2024, down 15.4% year-on-year, and segment adjusted EBITDA of<strong> \u00a519.6 billion<\/strong>, down 34.8% year-on-year, after VIP guest numbers continued to decline.<\/p>\n\n\n\n<p>\u201cThe slowdown of the junket business negatively affected the overall market conditions for the casino business in the Philippines,\u201d the company explained. \u201cAlthough sales in the mass market and gaming machine category has steadily increased overall since the pre-pandemic peak sales of this business in 2019, their performance in the fiscal year 2024 was down from the previous year when demand significantly rebounded following the pandemic.\u201d<\/p>\n\n\n\n<p>However, it added, \u201cIn the hotel and food and beverage businesses, the number of guests is consistently high and revenue continues to increase.\u201d<\/p>\n\n\n\n<p>In the Entertainment Equipment section, UEC explained that its strategy in 2024 was to concentrate the release and sale of a few major titles in the second half of the year, but instead pushed a number of releases to 2025 due to \u201clow pass rates of our machines in the model test.\u201d<\/p>\n\n\n\n<p>As a result, the number of units sold decreased from 180,632 in 2023 to 92,150 in 2024, leading to a 46.3% decline in net sales to 43.5 billion yen and a 69.6% decline in operating profit to 7.31 billion yen.<\/p>\n\n\n\n<p>However, UEC said it maintains a positive outlook for both its integrated resort business and its amusement equipment business.<\/p>\n\n\n\n<p>Okada Manila explained that it is recruiting and training people to strengthen its marketing capabilities in the gaming business.<\/p>\n\n\n\n<p>\u201cThese activities enable us to attract a broader range of local guests who live in the Philippines as well as tourists from Japan, South Korea and other Southeast Asian countries,\u201d it said. \u201cIn addition, we will work to penetrate our new online gaming platform targeting the Philippine locals, which has begun operating in 2024, and conduct extra promotion through our membership program,<strong> Reward Circle.<\/strong>\u201d<\/p>\n\n\n\n<p>Similarly, UEC said the market environment for pachislot slot machines is favorable, with the market share of pachislot smart slot machines steadily increasing due to their high usage rate.<\/p>\n\n\n\n<p>\u201cIn the <strong>Pachinko<\/strong> category, the game elements of the <strong>Smart Pachinko<\/strong> machines are to become richer, and the emergence of hit titles in the near future is expected and hence leading to the revitalization of the market,\u201d it said.<\/p>\n\n\n\n<p>\u201cUniversal Entertainment will continue striving to develop unique and appealing titles, contributing to the revitalization of the entire amusement equipment industry as well as expanding our market share.\u201d<\/p>\n\n\n\n<p>Don&#8217;t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A decline in VIP gaming at the company&#8217;s Philippine integrated resort Okada Manila and a sharp drop in domestic sales of pachislot and pachinko machines have pushed Japanese gaming company Universal Entertainment Corp (UEC) to a loss of 15.6 billion yen (US$102.5 million) for 2024. A year earlier, the company reported a net profit of [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":8516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[11426,11565,11564,11562,11563],"class_list":["post-8515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-okada-manila","tag-pachinko","tag-pachislot","tag-uec","tag-universal-entertainment-corp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Universal Entertainment Corp Posts $102 Million Loss in 2024 - SBC EURASIA EN<\/title>\n<meta name=\"description\" content=\"A decline in VIP gaming at the company&#039;s Philippine integrated resort Okada Manila and a sharp drop in domestic sales of pachislot and pachinko machines have pushed Japanese gaming company Universal Entertainment Corp (UEC) to a loss of 15.6 billion yen (US$102.5 million) for 2024. 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