Revealed: Sammy is house built on sand as crisis stock offload emerges!
Sega buy spree plunges Sammy into financial chaos
News has emerged this morning detailing the amazing events in the run up to Sammy's recent majority stock purchase of Sega, news that sees Sammy drive itself to the edge of financial stability in its quest to acquire Sega's coin-op floor space.
Sammy's press office released a statement to the financial sector yesterday detailing how the pachinko giant plans to release 40 billion yen ($380 million) in bonds to pay off outstanding debts, incurred during the firm's massive purchase of CSK's residual Sega stock.
The news highlights Sammy desperation to work with, if not control Sega, and its invaluable floor space that currently hosts a variety of Sega coin-operated machines. Sammy is open in its aggression towards Sega's current business model, which it believes to maintain costly development costs for mediocre returns.
Sammy's medium-term objective is as transparent as it basic. To replace much of the videogame machines with pachinko units and slot machines, both of which offer a significantly higher return than traditional arcade games.
Sammy's press office released a statement to the financial sector yesterday detailing how the pachinko giant plans to release 40 billion yen ($380 million) in bonds to pay off outstanding debts, incurred during the firm's massive purchase of CSK's residual Sega stock.
The news highlights Sammy desperation to work with, if not control Sega, and its invaluable floor space that currently hosts a variety of Sega coin-operated machines. Sammy is open in its aggression towards Sega's current business model, which it believes to maintain costly development costs for mediocre returns.
Sammy's medium-term objective is as transparent as it basic. To replace much of the videogame machines with pachinko units and slot machines, both of which offer a significantly higher return than traditional arcade games.
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