Belle Corp, the Philippine-listed parent company of Premium Leisure Corp (PLC) saw a 17 percent contraction in its share of gaming revenue from City of Dreams Manila during the first nine months of the year.

Belle Corporation, the Philippine-listed parent company of Premium Leisure Corp (PLC), has announced that it saw a 24 percent yearly drop in gaming revenue from its share of City of Dreams Manila during the first half of the year, to $16.43 million.

City of Dreams Manila operator Premium Leisure Corp has seen a 57 percent uptick in profit, topping some PHP1.91 billion ($33.5 million) during the nine months ended September 30th, ‘mainly brought about by better and more robust economic environment in 2023’.

The Philippines' Premium Leisure Core, an investor in City of Dreams Manila, saw a 20 percent increase in its gaming revenue share from the property in 2022 – topping PHP1.56 billion ($22.67 million).

Melco’s City of Dreams Manila is deploying a first-of-its-kind “AI-based machine vision platform” to support its Melco Club loyalty program.

Belle Corp, which gets a share in revenue from Melco Resorts & Entertainment’s City of Dreams Manila, said the contribution from the casino business for 2021 had doubled.

City of Dreams Manila saw a significant drop in VIP revenue during the first three months of the year, causing one of its parent companies - Premium Leisure Corp (PLC) - to record a 44 percent annual drop in gaming revenue from the property.

Melco Resorts and Entertainment registered a net loss of $243.8m in 3Q22, with casino revenues of just $181.96m. The group remains optimistic about its Manila property as travel restrictions ease.

Belle Corp. said its share of gaming revenue from the City of Dreams Manila dropped 20 percent in the first quarter due to Covid restrictions and ongoing border closures.

Gaming operator Melco Resorts & Entertainment saw a 22.33 percent rise in its operating revenues for the second quarter of the year, nearing $1.16 billion, led by the continued recovery in Macau – prompting improved performance in both the mass market and non-gaming segments.