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Sega Sammy sells arcade business Sega Entertainment to Genda Inc – GamesIndustry.biz
Company says arcades suffered due to COVID-19; expects “extraordinary losses” for fiscal year related to the sale
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Sega
SEGA Sammy Holdings
Sega Sammy has announced it will sell the majority of its shares in its Sega Entertainment division to Japanese amusement rental business Genda Inc.
In an announcement to shareholders today, Sega stated that it would transfer 85.1% of its shares in the subsidiary to Genda, retaining 14.9%, and that the company expected to record “extraordinary losses” in connection with the transfer of ¥20 billion ($191 million) by the end of…
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