Universal Entertainment projects 29.5% dip in operating profit in 2021

This figure, revealed in a trading update, would be a decline of 29.5% compared to its FY2020 operating profit.

After considering expenses of ¥4.4bn, the overall profit for the year is expected to come out at a loss of ¥2.6bn – down by ¥6.6bn year-on-year.

The operator also expects that its net sales will come to ¥90.4bn. This would be a year-on-year decrease of 0.5%.

The loss attributable to Okada Holdings, the parent group of Universal Entertainment, is projected to be ¥18.8bn – down by 2.1% year-on-year.

The operator’s half-year 2021 results showed a 56.4% revenue decrease year-on-year.

Last month, Okada Manila International set out plans to rebrand to UE Resorts International as part of its business expansion strategy, which will see it pursue a licence to operate a casino in downstate New York.

During 2021, the business also received approval to launch online gambling, as the Philippines began issuing online licences.