Gaming studio not as profitable as pachinco machines, requires squeezing to extract short term shareholder value.
Just leaving Sega’s stock price here

Their net annual profit is also up

2023 45.9b JPY
2022 37.03b JPY
2021 1.2b JPY
2020 13.7b JPY
2019 2.6b JPY

While Sega has had problems, 2023 is still a record year for them.