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Japanese entertainment corporation GENDA will acquire a majority of shares in Sega Entertainment. GENDA (which is an acronym for Global Entertainment Network for Dreams and Aspirations) announced the shares’ acquisition at the recent board of directors meeting. GENDA will hold 85.1% of Sega Entertainment shares as of December 3, 2020, once the transfer goes into effect. [Thanks, Gamer!]
GENDA Co.’s primary focus is on developing an “amusement” machine rental business, online crane machines, promotional sales, and business between the Chinese and United States markets. The statement released from the board of directors meeting indicates that GENDA and Sega Entertainment will be “working to revitalize the amusement industry, and create an environment where everyone can be involved, including manufacturers, operators, and users.”
What does this mean for Sega? As it stands, the voting rights for Sega Group‘s ownership ratio over Sega Entertainment will now be 14.9%. Additionally, Sega Entertainment will no longer be part of Sega Group’s consolidated subsidiaries.
Developer and publisher Sega recently celebrated its 60th anniversary. While some celebrations have already taken place (like Steam sales and the limited release of 2D side-scrolling beat’em up Streets of Kamurocho), there are plans for a concert this December. This concert will feature music from Sega franchises like Sonic the Hedgehog, Sakura Wars, Persona, and Yakuza.
