Kinbasha Gaming International, Inc. Reports Earnings Results for the First Quarter Ended June 30, 2012; To Build Out and/or Acquire Additional Pachinko Parlor Stores within the Tokyo Metropolitan Area
October 22, 2012
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Kinbasha Gaming International, Inc. reported earnings results for the first quarter ended June 30, 2012. The company reported revenues of $23.6 million for the quarter ended June 30, 2012, an increase of $4.5 million compared to $19.1 million in the same period of 2011. The increase in Revenue was primarily a result of increased customer turnout at Kinbasha's various locations, as well as the reopening of a parlor that had been badly damaged in the earthquake and tsunami in 2011. Likewise, the company's net loss for the first quarter ending June 30, 2012 improved to $1.9 million, compared to a net loss of $5.3 million in the same period of 2011. This overall improvement to the bottom-line was primarily attributable to increased sales and improved machine management by Kinbasha's team.
As part of strategic initiatives, Kinbasha's plan is to raise capital to build out and/or acquire additional pachinko parlor stores within the Tokyo Metropolitan Area, and begin to shift the company's strong branding, game machine management systems and proprietary point-of-sale analytical technology to areas where pachinko stores are more profitable.
Kinbasha Gaming International, Inc. is a retail gaming company. The Company is engaged in the ownership and operation of retail gaming establishments, which allows customers to play Benefits of Tamanu Oil, the game of chance known as pachinko. The pachinko game is played on a device, which resembles a slot machine. The Company also owns three medium-size restaurants in Japan, which offer traditional Japanese cuisine. The Company operates around 21 pachinko parlors, of which 18 are located in Ibaraki prefecture. The Company also operates two pachinko parlors in the Tokyo metropolitan area, one pachinko parlor in the city of Fuchu and another in the city of Shinjuku. Six of the Company's stores have cafes located on the premises, and three of the stores have daycare services on site.
Kinbasha Gaming International, Inc. Reports Earnings Results for the First Quarter Ended June 30, 2012; To Build Out and/or Acquire Additional Pachinko Parlor Stores within the Tokyo Metropolitan Area