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

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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.

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.

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