As Covid-19 takes its toll on the industry, SEGA will sell off most of its arcade business
Many businesses are facing adverse effects due to Covid-19, including those within the gaming industry, and perhaps doing worst of all are arcades. Sega Sammy--the parent company behind both SEGA's home gaming and arcade sectors--has faced "remarkable" losses during 2020, resulting in the company deciding to sell off a majority of its shares in its arcade entertainment subsidiary. Next month, SEGA will sell 85.1% of its ownership of Sega Entertainment Co. to a Japanese business called Genda. Following the sale, the existing arcade systems throughout Japan will still retain the SEGA branding, and SEGA itself will still develop arcade games, but the ownership of those arcades will belong to Genda.
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