Japanese game maker Sega Sammy sells resort to US fund

Sega Sammy is selling its Japanese resort complex Seagaia to Fortress Investment Group of the U.S. The Japanese entertainment company behind the “Sonic the Hedgehog” video games, said Friday that all of its shares in Phoenix Resort Co., which operates Seagaia in Miyazaki, southwestern Japan, will be sold to Fortress. Financial terms of the deal were not disclosed. The move, approved by Sega Sammy's board of directors, will result in a gain of about 8.5 billion yen, or $55 million, in extraordinary income for the fiscal year through March 2025. Sega Sammy will acquire 20% of voting rights through newly issued shares.