Sega Sammy Set To “Activate” Japan IR Bid By March

Japanese gaming and entertainment company Sega Sammy Holdings says it plans to activate its bid to develop an integrated resort in Japan in the second half of its financial year, ending March 2020.

The update formed part of the company’s 2Q20 results announcement, which saw profits rise 26.6% to JPY8.1 billion on the back of strong sales of digital video games. It also reported improved performance at Korean integrated resort Paradise City, of which it owns a 45% stake.

Although Sega Sammy has yet to reveal any real details about its Japanese IR vision, its 2Q results announcement warned investors to “expect an increase of expenses as the measures towards participating into domestic IR will be activated” before the end of the financial year in March.

The company has previously highlighted Tokyo as its preferred IR location should Japan’s most populous city decide to enter the IR race, with Sega Sammy Chairman and Group CEO Hajime Satomi stating last December that it would be prepared to invest significantly were that the case. He also claimed Sega Sammy would want to own a majority share in any consortium it joins.

Korean casino operator Paradise Co, which owns the other 55% stake in Paradise City in Incheon, told FortuneZ in January 2019 that it would consider partnering with Sega Sammy again for a Japan IR bid.

“It’s not a commitment, but it’s some of kind of sentiment,” Paradise President and CEO Park Pyung-yong said at the time.

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