Konami’s profits up thanks to slots business

Gamblers seem to have developed a preference for slot machines this past quarter. Many casino operators have reported an increase in slot machine activity and revenue and Konami Corp. is happy because of it. The Japanese company manufactures slot machines, among other items, and the increases in slot activity allowed Konami to report a gain of 9.6% in its annual revenue for the period ending March 31.

Across the board, Konami saw net income increase by 12.1% year-on-year, reaching $311.6 million. A jump of 5.2% in net revenue was reported for the company’s gaming and systems division, delivering $284.3 million. The division’s profit increased by 8.2% year-on-year, reaching just over $42.8 million.

A company press release on its finances indicated that Konami had “enhanced” its portfolio to include the KX43, a new upright cabinet. The cabinet was introduced last year in Las Vegas at the Global Gaming Expo 2018. Konami added, “We also promoted market revitalisation by providing new entertainment with the installation of Fortune Cup mainly in the North America and Asia.”

Several standard offerings also helped move the company forward. The press release explained, “The sales of the latest cabinet in the Concerto series, including Concerto Crescent and Concerto Stack, as well as Concerto Opus … continued to perform strongly,”