Global Entertainment’s mid-year report reveals a downturn in earnings – iGB
Global Entertainment’s income in the initial six months of 2021 reached 28.6 billion yen (roughly 187.2 million pounds / 220.4 million euros / 261.1 million dollars), a decrease of 56.4% from the same period in the previous year.
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Global Entertainment’s mid-year report reveals a downturn in earnings
Of this total, 14 billion yen originated from game machine sales, despite a considerable 71.4% drop compared to 2020. Another 14.1 billion yen stemmed from integrated resorts, with Tiger Resort Leisure and Entertainment (which disclosed its results last month) contributing 8 billion yen. 537 million yen came from miscellaneous or unallocated sources.
Despite the reduction in spending, it was insufficient to prevent the operator from incurring losses.
Sales and marketing expenditures decreased to 16.43 billion yen, a drop of 38.4%. General and administrative expenditures also decreased to 20.95 billion yen.
The company’s operating loss for the initial six months of the year amounted to 14.19 billion yen, a result attributed in part to the state of emergency declared in most of Japan due to the pandemic. After deducting income tax, the net loss totaled 16.93 billion yen.
Game machine losses were 2.32 billion yen, integrated resort losses were 2.02 billion yen, and other and unallocated source losses were 4.36 billion yen. Non-operating expenses were 5.29 billion yen, but non-operating income was also 5.29 billion yen.
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