Belle Corp revenue hits 5.6 billion pesos

Belle Corp saw a 3 percent increase in consolidated revenues to PHP5.6 billion in 2023 compared to PHP5.4 billion in 2022, primarily fueled by growth in other gaming-related income, including gaming revenue share and online betting equipment rentals.

The company, which holds investments in City of Dreams Manila (CODM) and collaborates with Melco Resorts and Entertainment (Philippines) Corporation (MRP), reported a 50 percent year-on-year surge in casino revenue from its CODM operations, reaching nearly PHP2.34 billion in 2023.

Jackson T. Ongsip, President and CEO of Belle Corp, attributed CODM’s performance to enhancements across both mass and VIP segments, driven by strategies to expand its customer base amidst rising local and international tourism and competition from other integrated resorts in Entertainment City Manila.

Consolidated net income for Belle Corp rose by 42 percent to PHP2.4 billion in 2023 from PHP1.7 billion in 2022.

Additionally, Pacific Online Systems Corporation (Pacific Online), a subsidiary of Belle Corp engaged in leasing online betting equipment and systems to the Philippine Charity Sweepstakes Office (PCSO) for nationwide lottery operations, reported a 15 percent increase in revenues to PHP599.2 million in 2023 compared to PHP519.1 million in 2022.

Online gaming revenue contributed to Belle Corp’s revenue growth and it just shows that online betting can help supplement even land based casinos.

Related Posts