Ga SegaIt’s been a rough year for Sega Semi, and as a result of some “extraordinary damage” from the effects of the coronavirus, it sells most of its shares in Sega Entertainment to Japanese entertainment rental firm Rhino – a company “eager to expand the arcade field in Japan.”
Speaking to shareholders earlier today, Sega said it would transfer about 85.1% of its shares to Sega Entertainment while retaining only 14.9%. As published by Gameindustry.beej, Sega Entertainment “builds and operates” the company’s arcade locations, while “Sega still manufactures and sells arcade machines”.
For a while it was clear that this part of the business was not going very well for Sega Semi – especially when news of Sega closing its famous Akibara arcade in Japan surfaced earlier this year. The extent of the loss is expected to expand into the company’s quarterly earnings and the deal will take place on December 30.
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