Sega Sammy Holdings, the Japanese entertainment company known for the iconic 'Sonic the Hedgehog' video games, has announced the sale of its resort complex Seagaia to Fortress Investment Group, a U.S.-based firm. The Tokyo-based Sega Sammy will be divesting all its shares in Phoenix Resort Co., the operator of Seagaia located in Miyazaki, southwestern Japan.
The financial terms of the transaction have not been disclosed. However, the move has been approved by the Sega Sammy board of directors and is expected to generate an extraordinary income of approximately 8.5 billion yen ($55 million) for the fiscal year ending in March 2025.
