Sega will sell majority stake in arcade machine business due to COVID-19 losses
Japan’s Sega Sammy will sell 85.1% of its arcade machine business. Gamesindustry.biz writes about this. The shares will be acquired by rival arcade entertainment company Genda.
The holding announced the sale at a shareholders’ meeting. The transaction involves the transfer of slot machines and other property that is part of the business. The company clarified that it expects “extraordinary losses” due to the COVID-19 pandemic: “Despite the trend towards recovery, the situation remains uncertain. “
The cost of the transaction was not specified. Sega Sammy will retain 14.9% of the shares, but the purpose of maintaining the stake has not been disclosed.
In October, Sega celebrated its 60th anniversary. In honor of this, the developers gave Steam users Sonic the Hedgehog 2 and launched a sale of their games.
