CASINO

Konami revenue remains flat, but profits increase for gaming division

TAGs: Concerto, Konami

The gaming and systems division of Konami Corp. saw its revenue for the first half of the fiscal year remain relatively unchanged over the Konami sees revenue remain flat, but profits increase for its gaming divisionsame period last year. It reported that it took in around $113.1 million during the period for an increase of just 1.2%. However, profits for the division jumped an impressive 28.4% to $14.07 million.

According to a company press release, “The gaming market is continuing to see growth with the worldwide development and opening of new casino facilities and integrated resorts which include casinos…Furthermore, measures to revitalise the industry were implemented mainly targeting young people, including the introduction of slot machines designed to reflect players’ skill levels.”

During the period, Konami was able to expand the distribution of Concerto, its video slot product line, across Oceania, Asia and North America. Concerto includes the curved-screen cabinet Concerto Crescent and the tall-screen cabinet Concerto Stack.

The company indicated in the release that it would continue to market Fortune Cup, a horserace betting station that includes a model track, which builds on Konami’s “expertise and technology accumulated through Konami group’s amusement machines.”

It further stated, “We continue to make efforts to enhance our sales focusing on the Concerto series, a key product in our video slot machine series, as well as to enhance product range, including introduction of the latest cabinet, Concerto Opus, which features a large, 65-inch display, and a new upright cabinet, KX 43.”

In addition to the casino slot operations, Japan-based Konami is involved in pachinko, sports and digital entertainment, which includes video and mobile games.

Overall, Konami’s revenue for the six-month period saw an uptick of 5.9%, coming in at $1.05 billion. However, an upswing in profit stalled at $152 million. The company will pay a per share dividend of $0.54, including a grant of $0.22, on or about November 20. The grant will be issued in celebration of the company’s 50th anniversary.

Konami operates in a number of countries around the world. In all of them except for Japan, it operates under the Konami Australia Pty Ltd name. It was founded in 1973 by Kagemasa Kozuki, who still holds the positions of CEO and Chairman of the Board.

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