HomeNewsPhilippinesCity of Dreams Manila drives Belle Corp to strong revenue/profit increase in 1H23

City of Dreams Manila drives Belle Corp to strong revenue/profit increase in 1H23

-

City of Dreams Manila drove a strong increase in revenue for Belle Corp, at least in regard to its gaming segment, with figures up 28 percent year-on-year, to PHP1.23 billion ($22.46 million) during the first half-year.

The results were reported by the parent company of Premium Leisure Corp, Belle Corp, which runs the casino via an agreement with Macauโ€™s Melco Resorts.

The company reported that its gaming segment saw a 44.2 percent increase in profit during the half-year period, topping PHP1.17 billion ($21.37 million), contributing most of the groupโ€™s PHP1.3 billion ($23.74 million) in income for the period, up 15 percent yearly.

Overall, group revenues totaled PHP2.92 billion ($53.33 million) during the semester, up by 4 percent yearly, despite a slight 4 percent drop in its revenues from the City of Dreams Manila lease during the period, at PHP1.04 billion ($18.99 million).

In the meantime, Belle Corp registered a 41 percent drop in its real estate revenues, to PHP344.6 million ($6.29 million) during the half-year stretch, while its lottery services arm โ€“ Pacific Online โ€“ saw a 57 percent yearly increase in revenue, to PHP343.4 million ($6.27 million) during the period.

Belle Corp operates the lottery in the Philippines via a 50.1 percent stake.

Overall, during the period, the company saw net income of some PHP1.03 billion ($18.81 million), up 15 percent yearly.

Kelsey Wilhelm
Kelsey Wilhelmhttps://agbrief.com
Kelsey Wilhelm is a broadcast, print journalist and editor based in Asia for over 15 years. Focused on content creation, management, cross-cultural exchange and interviews for multi-lingual productions. Writing focus on gaming, business, politics, culture and heritage, events and celebrities, subcultures, music, film, art and fashion. Some of Kelsey's specialties are: editing, writing, copy creation, multi-lingual content production, cross-cultural exchange, content creation and management for Asian markets.

CORPORATE SPOTLIGHT