Universal Entertainment, the operator of Okada Manila, has released its projected results for the year ending on December 31, 2021. The trading update indicates a decline in operating profit compared to the previous fiscal year. Despite expenses and a decrease in net sales, the company aims to expand its business strategy and pursue new opportunities.
Operating Profit Decline:
– Universal Entertainment projects an operating profit of ¥1.88 billion for FY2021, representing a 29.5% decline from the previous year.
– The anticipated loss for the year, considering expenses of ¥4.4 billion, is estimated at ¥2.6 billion, marking a year-on-year decrease of ¥6.6 billion.
Net Sales Outlook:
– The operator expects net sales to reach ¥90.4 billion, reflecting a slight 0.5% decrease compared to the previous year.
Okada Holdings Loss:
– The loss attributable to Okada Holdings, the parent group of Universal Entertainment, is projected to be ¥18.8 billion, a 2.1% decline year-on-year.
Half-Year Results:
– The company’s half-year 2021 results revealed a significant 56.4% decline in revenue compared to the same period the previous year.
Business Expansion Strategy:
– Okada Manila International plans to rebrand as UE Resorts International, aiming to pursue a casino license in downstate New York as part of its business expansion strategy.
– The company has also obtained approval to launch online gambling, following the issuance of online licenses in the Philippines.
Universal Entertainment, the operator of Okada Manila, expects a decline in its operating profit and an overall loss for the year 2021. Despite these projections, the company is focused on its business expansion strategy, including rebranding and pursuing new opportunities such as obtaining a casino license in New York and launching online gambling. The company aims to adapt to changing market conditions and position itself for future growth.