Universal Entertainment may only have nine months of sales data available to them at this point this year, but executives at the company have to be thrilled with the numbers they are seeing.
The Japanese-based company reported a 39.5% increase in net sales over those nine months, in comparison to the same period in 2018. This comes on the heels of the positive performance of its combined operations at the Philippines integrated resort Okada Manila and in its pachinko and pachislot business.
Total net sales through the first nine months of this year reached JPY93.48 billion ($1.84 billion). It appears that the company was greatly helped by the redemption of its Wynn Stock which occurred after the resolution of a legal dispute in 2018. The company declared a loss of JPY5.74 billion ($113.1 million) through September compared with the income of JPY167.97 billion ($1.54 billion) last year.
One positive number the company has to be extremely excited about is that the adjusted segment EBITDA increased by a dramatic 938% to a total of JPY21.04 billion ($414 million). The Okada Manila resort also saw a dramatic turnaround, as net sales increased 46.7% over that of the same period of time in 2018. They moved from a loss of JPY4.78 billion ($44 million)in 2018 to a profit of JPY1.84 billion (US$36.2 million) this year.