Belle Corp revenue driven by City of Dreams

City of Dreams Manila
City of Dreams Manila

Belle Corp reported an 6 percent gain in 2018 revenue, driven by strong gains from its participation in the City of Dreams Manila.

The company said its revenue came in at P8.5 billion ($164 million). The company, whose Premium Leisure unit has a revenue sharing accord with the Entertainment City IR, said its interest from gaming gained 23 percent to P3.2 billion.

Profit decreased 8 percent to P3.2 billion, though excluding capital gains from the prior year, net profit would have gained 10 percent. Belle said both profit and revenue were at record levels for the company.

Belle said its real estate business saw a 9 percent gain in revenue to P3.4 billion, with much of that – P2.4 billion – coming from the lease of the land on which the City of Dreams is located to Melco Resorts & Entertainment.

Belle notes it has one hectare of undeveloped land adjacent to City of Dreams.