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 Macau’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 group’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 – Pacific Online – 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.