Belle Corp reports 105% increase in its share of gaming revenues from City of Dreams Manila in 2021

March 18, 2022 Philippines Earnings & Filings

Philippines real estate firm Belle Corp reported a 105% increase in its share from gaming revenues at City of Dreams Manila in 2021, aided by an improved performance from the integrated resort.

According to details contained within Belle Corp’s Annual Report, made public this week, gaming revenue share climbed from Php635.2 million (US$12.1 million) in 2020 to Php1.30 billion (US$24.9 million) in 2021. This was in stark contrast to most of the company’s business segments, with group-wide revenue down 18% year-on-year to Php3.42 billion (US$65.4 million). As a result, gaming revenue comprised 38% of Belle Corp’s total revenue in 2021, up from just 15% in 2020.

Melco Resorts & Entertainment earlier this month reported a 31.5% increase in operating revenues at City of Dreams Manila in 4Q21 to US$83.9 million, which it attributed to improved performance in the mass market table games and gaming machine segments.