Konami gaming division sees 7.8 percent spike in profit

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In a filing on Friday, Japanese entertainment company, Konami Holdings Corporation (9766:Tokyo), reported a 46.4 percent hike in profit group-wide for the quarter ending June 30, 2017.

Asia Gaming Brief reports that profit in the quarter for the Tokyo-based company reached JPY8.5 billion (US$76.8 million) and revenue in total amounted to JPY55.7 billion, which represents a 12.8 percent year-on-year increase.

In regard to Konami’s slot machine business, the company said that the segment’s revenue saw a 4.4 percent decrease in the quarter to JPY6.5 billion. The downward turn, Konami said, was due to its new casino management systems being installed mostly at small and medium sized gambling venues, despite strong slot machine sales concentrated mainly in the North American market, according to the news agency.

The company’s effort to reduce cost in existing products was reportedly the main contributing factor to an increase in the quarter’s segment profit by 8.7 percent to JPY804 million.

Konami says that in the future it will continue its efforts to develop and enhance Podium and Concerto series-centered sales, which have proved to be long-selling and among its more popular video cabinet groups.

For the fiscal year ending March 31, 2018, Konami says that it expects total revenue of JPY245 billion. And in keeping with its previous estimates, the company forecasted profit which can be attributed to the owners of the parent company will reach JPY27 million, according to Asia Gaming Brief.

Earlier this year, Las Vegas-based Konami Gaming Incorporated, a subsidiary of Konami Holdings Corp., named Atlantic Ventures as its exclusive distributor for Argentina, Paraguay and Uruguay.

Konami gaming division sees 7.8 percent spike in profit was last modified: August 1st, 2017 by K Morrison


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