It’s been a rough year for Sega Sammy, mostly impacted by “extraordinary losses” due to the impacts of coronavirus, it will sell the majority of its shares in Sega Entertainment to Japanese amusement rental firm, Genda.
Speaking to shareholders, Sega said it would transfer approximately 85.1% of its shares in Sega Entertainment while retaining just 14.9%. As highlighted by GameIndustry.biz, Sega Entertainment “creates and operates” the company’s arcade locations, while “Sega itself still manufactures and sells arcade machines”.
It’s been clear that this news was going to happen for a while now, as it became news that Sega was shutting down its famous Akihabara arcade in Japan. The extent of the damage is expected to be detailed in the company’s quarterly earnings and the deal will go through on 30th December.