The Phoenix Seagaia Resort complex in Miyazaki
13:22 JST, May 10, 2024
Tokyo, May 10 (Jiji Press) – Sega Sammy Holdings Inc. said Friday it will sell subsidiary Phoenix Resort Co., operator of the Phoenix Seagaia Resort complex in the southwestern Japanese city of Miyazaki, to Fortress Investment Group LLC.
Through the sale, Sega Sammy plans to focus its management resources on its core gaming and other businesses.
The American investment company, which is strong in the hotel sector and other activities, will lead the management of the resort complex, which includes a hotel and a golf course.
Under the deal, Sega Sammy will sell all shares of Phoenix Resort to Fortress and then acquire class shares to be issued by Phoenix Resort to acquire a 20% voting interest. The transactions are expected to close on May 31.
