Sega is a name that is undoubtedly familiar to many gamers. The company has been responsible for some very memorable arcade games, and over in Japan, the company operated an entire building in Akihabara, Tokyo where it housed many popular Sega arcade games, but it looks like it’s the end of an era.
This is because Sega Sammy, the parent company behind Sega Entertainment, has announced that they will be selling off its arcade business to Genda Inc., which for those unfamiliar is an amusement rental business. Sega will be transferring 85.1% of its shares of its subsidiary to Genda while retaining the remainder, with the company stating that they expect to record a loss of around $191 million by the end of the fiscal year.
According to the company, they claim that the reason behind the sale is largely due to the COVID-19 pandemic that has affected its arcade and amusement facilities business, and that despite there being a recovery trend, it seems that things are still a bit too uncertain with regards to the future.
It is a pity to see Sega selling off its arcade business, but hopefully Genda will be able to pick things up where they left off.
Filed in . Read more about Japan and Sega. Source: gamesindustry.biz