Belle Corporation, the Philippine-listed parent company of Premium Leisure Corp. and landlord of City of Dreams Manila, reported a 17 percent year-on-year decline in its gaming revenue share from the integrated resort in 2025.
According to its audited financial statements submitted to the Philippine Stock Exchange, Belle’s gaming revenue share, net for the year ended December 31st, 2025, amounted to PHP1.9 billion ($32.91 million), compared with PHP2.29 billion ($39.66 million) in 2024.
The company derives this income through its interest in Premium Leisure Corp. and its entitlement to a share of casino revenues generated at City of Dreams Manila under its operating arrangements.
Total consolidated revenues for 2025 reached PHP5.29 billion ($91.62 million), down from PHP5.89 billion ($102.01 million) a year earlier. Net income for the year stood at PHP2.11 billion ($36.54 million), compared with PHP2.43 billion ($42.09 million) in 2024. Earnings attributable to equity holders of the parent amounted to PHP2.10 billion ($36.37 million).
Despite the lower gaming contribution, Belle’s board approved the declaration of a cash dividend of PHP0.06 ($0.001) per share. The record date is set for March 13th, 2026, with payment scheduled for March 27th, 2026.
Belle’s revenue base continues to be anchored by lease income and gaming revenue share. The auditors’ report noted that lease income and share in gaming revenue accounted for approximately 80 percent of total revenues in 2025, highlighting the continued importance of its Entertainment City assets to overall performance.
In a separate disclosure within the same filing, Belle provided an update on its proposed new integrated resort project in Clark, Pampanga. The group, through subsidiaries of Premium Leisure Corp., previously applied for a gaming license from PAGCOR in July 2024. On February 5th, 2026, it requested the inclusion of Premium Leisure Corp. and the parent company as co-licensees, a move described as intended to strengthen the project’s development and operational capabilities. The request remains under regulatory assessment.
Belle has previously signaled its intention to develop an integrated casino resort in Clark as part of a broader strategy to expand beyond Entertainment City and diversify its gaming portfolio.
