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Sega's parent company to build an entertainment complex in South Korea

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Sega Sammy building in Busan

Sega Sammy Group, the parent company of game developer and publisher Sega, has won a bid to develop "Centum City" — a multi-purpose complex equipped to handle entertainment, international business, information and communication — in the South Korean city of Busan.

In a press release published today, Sega Sammy Group said that it "aims to enter into the resort complex and casino business based on its wide-ranging knowledge and abundant experience in entertainment."

The investment amount is 391.5 billion South Korean Won (almost $370 million) and the development, which comprises of a hotel, entertainment facilities and commercial facilities, is due to begin construction this October, with a planned opening in September 2016.

While Sega Sammy is investing in non-gaming development, the company's earning's dropped 10.5 percent last year. The company closed a number of its video game bases in Europe and reduced its title output.