Sega bags all Phoenix Resort shares

Kyodo

Sega Sammy Holdings Inc. has acquired all shares in Phoenix Resort K.K. from an investment fund and has made the operator of Seagaia resort facilities in the city of Miyazaki into a wholly owned subsidiary, according to the Tokyo-based company.

Sega Sammy, an operator of amusement facilities and pachinko parlors, said Monday it paid ¥400 million to RHJ International S.A. for the acquisition.

Hajime Satomi, chairman and president of Sega Sammy, and three other officials of the company joined the Phoenix Resort board, replacing as many board members representing RHJ International.

Satomi and Phoenix Resort President Kazuhiko Kawamoto are due to meet with reporters on April 3 to brief them about management policy for the resort operator under Sega Sammy’s wing.