Japanese game maker Sega Sammy sells resort to US fund

This photo shows Phoenix Seagaia Resort in Miyazaki, southern Japan, in January 2023. Sega Sammy is selling its resort complex Seagaia to Fortress Investment Group of the U.S., the Japanese entertainment company said Friday, May 10, 2024.

New York-based Fortress was chosen, Sega Sammy said in a statement, because of its experience since the company has acquired 176 hotels since 2011. Also Friday, Sega Sammy reported its profit fell in the fiscal year that ended in March, to 33 billion yen , from 45.9 billion yen the year before. Its sales rose 20% to 467.8 billion yen .

Although Sega Sammy’s resort operations recently returned to profitability, they suffered during the pandemic, when travel to Japan and within the country was disrupted.

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Japanese game maker Sega Sammy sells resort to US fundSega Sammy is selling its Japanese resort complex Seagaia to Fortress Investment Group of the U.S. The Japanese entertainment company behind the “Sonic the Hedgehog” video games, said Friday that all of its shares in Phoenix Resort Co., which operates Seagaia in Miyazaki, southwestern Japan, will be sold to Fortress.
Source: AP - 🏆 728. / 51 Read more »

Japanese game maker Sega Sammy sells resort to US fundSega Sammy is selling its Japanese resort complex Seagaia to Fortress Investment Group of the U.S. The Japanese entertainment company behind the “Sonic the Hedgehog” video games, said Friday that all of its shares in Phoenix Resort Co., which operates ...
Source: ABC - 🏆 471. / 51 Read more »