Breaking News

Tweet TWEET

Universal Entertainment Announcement Regarding Commencement of Discussion With SHINSEGAE Group of South Korea

Universal Entertainment Announcement Regarding Commencement of Discussion With
SHINSEGAE Group of South Korea

TOKYO, Dec. 6, 2012 (GLOBE NEWSWIRE) -- Universal Entertainment Corporation
hereby announces that today, Universal Entertainment Hong Kong Limited, a
wholly owned subsidiary of, has signed a non-disclosure agreement with the
SHINSEGAE Group of South Korea. The agreement was signed in preparation for
commencing discussions regarding the commercial facilities at the casino
resort complex development project at Yeongjongdo Island, Incheon, Korea being
undertaken by the SHINSEGAE Group.

About SHINSEGAE Group

CEO:              Chung Yong-Jin
Business Lines:   Retailing, fashion business, food and beverages, hotels,
                   construction, IT, etc.
                   The SHINSEGAE Group has been a pioneer in the modernization
                   of South Korea's retail sector. The Group opened the first
                   modern department store in South Korea in 1930. Today it
Corporate Profile: operates nine department stores (Shinsegae Department
                   Stores) spread throughout the country, in addition to 137
                  general merchandise stores (Emart stores) in South Korea
                   and 27 overseas, and two outlet malls (Premium Outlets).
                   The SHINSEGAE Group reported sales of 14.5569 trillion Won
                   (roughly 1.1063 trillion yen at an exchange rate of 100Won
                   = 7.6 yen) for fiscal 2010.

Future Outlook

The impact of this project on the business performance of the company in the
current fiscal year will not be significant. All relevant information required
to be disclosed regarding this project shall be released in a speedy and
timely manner.

CONTACT: MEDIA CONTACTS:
         Universal Entertainment Corporation (JASDAQ Code: 6425)
         PR&IR OFFICE Nobuyuki Horiuchi,
         Assistant General Manager
         Email address:ir@universal-777.com
         Ariake Frontier Bldg,A,3-7-26 Ariake,koto-ku,
         Tokyo,135-0063 JAPAN
         TEL: +81-3-5530-3055 (switchboard)
 
Press spacebar to pause and continue. Press esc to stop.