Konami Q1 2019/20 Earnings Results – Saved by Gaming and Gambling
https://wccftech.com/konami-q1-2019-20-earnings-results/
For a while now we’ve been covering the turnaround of Konami (TYO:9766), a company that made a very hasty retreat from video games to focus on amusements like Pachinko as well as its gambling operations about four to five years ago. This retreat from video games was reversed following a downturn in their amusements business with an increase in traditional games output and a focus on mobile titles. This has proven to be one of the company’s saving graces in a disappointing quarter.
In the three months from April to June, Konami has brought in ¥56.5 billion in revenue, a 3.4% year-on-year fall. The primary cause of this is within the amusements segment, which has fallen a staggering 50.6%, from ¥6.6bn to just ¥3.3bn. Sports has also fallen slightly, 3.7%, though the Digital Entertainment (video games) and Gaming & Systems (gambling) segments have both seen an increase, helping to mitigate the drop within the amusements segment.