Belle Corp mid-year profit up 93 pct

Philippine casino investor Belle Corp. posted a 93 percent increase in consolidated net profit,  amounting to P1.77 billion in the first half of the year, driven by revenue growth at City of Dreams Manila.

Net income for the first half of the year amounted to P1.66 billion, up by 82 percent year-on-year compared to P913 million in the prior-year period.

“The company’s operating growth in 2017 was fueled primarily by growth in its revenues from City of Dreams Manila,” said Belle Corp in a press release on Wednesday.

Its share in the gaming income of City of Dreams Manila, through its 78.7 percent-owned subsidiary, Premium Leisure Corporation (PLC), more than doubled to P1.46 billion for the first half of 2017, from P702 million for the first half of 2016.

Belle said this was attributable to the continued growth of gaming operations at City of Dreams Manila.

The company also saw increased revenues from its real estate business.

Total real estate-related revenues increased by 10 percent to P1.6 billion for the first half of 2017.

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