Belle Corp, the Philippine-listed parent company of Premium Leisure Corp (PLC), reported a 17 percent decline in its share of gaming revenue from City of Dreams Manila for the first nine months of the year.
According to Thursday’s report, the group’s gaming revenue reached PHP1.49 billion ($25.67 million), representing 37 percent of total revenues, down from 42 percent during the same period in 2023.
Meanwhile, Belle Corp’s leasing revenue from City of Dreams Manila, leased to a Melco Resorts subsidiary, rose by 16 percent year-on-year to PHP1.74 billion ($29.83 million).
The group’s overall revenues saw a modest 5 percent year-on-year decrease to PHP4.1 billion ($70.34 million), while net income dropped by approximately 22 percent to PHP1.53 billion ($26.22 million), largely due to lower gaming revenue.
Belle Corp also maintains a 50 percent joint venture with Pacific Online Systems Corporation (POSC), providing online betting equipment to the Philippine Charity Sweepstakes Office (PCSO) for lottery operations. This segment generated PHP398 million ($6.83 million) in revenue, a 21 percent year-on-year decline.
In real estate and property management, Belle Corp reported a 7 percent revenue decrease, bringing in PHP464.2 million ($7.96 million) for the period.
