Japanese game maker Sega Sammy sells resort to US fund
Sega Sammy is selling its Japanese resort complex Seagaia to Fortress Investment Group of the U.S. The Japanese entertainment company behind the “Sonic the Hedgehog” video games, said Friday that all of its shares in Phoenix Resort Co., which operates Seagaia in Miyazaki, southwestern Japan, will be sold to Fortress
By Yuri Kageyama
Published - May 10, 2024, 01:18 AM ET
Last Updated - May 27, 2024, 12:59 AM EDT
TOKYO (AP) — Sega Sammy is selling its resort complex Seagaia to Fortress Investment Group of the U.S., the Japanese entertainment company said Friday.
Tokyo-based Sega Sammy Holdings, the company behind the “Sonic the Hedgehog” video games, said it will sell all its shares in Phoenix Resort Co., which operates Seagaia in Miyazaki, southwestern Japan.
Financial terms of the deal were not disclosed.
The move, approved by the Sega Sammy board of directors, will result in a gain of about 8.5 billion yen ($55 million) in extraordinary income for the fiscal year through March 2025.
