Belle Corp reports solid 2017 gaming revenues from COD Manila

Philippines casino investor Belle Corp achieved record revenues and net income in 2017, due mainly to increased gaming earnings from City of Dreams Manila.

The company, through its subsidiary Premium Leisure Corp, operates the Entertainment City-based casino resort through a joint venture with Melco Resorts & Entertainment (Philippines).

According to the filing, consolidated revenues for the year reached P8.0 billion (US$153.8 million), up 27 percent year-on-year, while net income rose 13 percent to P3.5 billion in 2017.

The company said that a 59 percent rise in gaming revenue from City of Dreams Manila was the main driver for the hike in revenue.

However, Belle’s real estate business also contributed to the results with P3.1 billion in revenues, up 10 percent year-on-year.

Belle declared a regular dividend of 0.12 per share on February 23, 2018, payable on March 23, 2018.

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