Through its subsidiary Premium Leisure Corp, Belle Corp reported a 24.3% year-over-year increase in casino revenue from its portion of gaming operations at City of Dreams Manila in the first nine months of 2023, reaching over PHP 1.80 billion (US$31.6 million).
The operating agreement Belle has with Melco Resorts & Entertainment Ltd.’s company, which gives them a share of gaming earnings, is what’s responsible for this boost in income.
At little under PHP 1.97 billion during the same period last year, Belle’s total net income increased by 20.1%. Apart from its involvement in the gaming sector, Belle also manages a lottery and owns real estate.
The organization attributes this increase in financial performance to the better operation of the company’s gaming business areas. Belle reported an 18.8% year-over-year decline in real estate operations revenues of PHP 2.00 billion for the nine months ended September 30, despite a little increase in total revenues to PHP 4.30 billion. Melco Resorts’ Philippines division leased land and buildings at City of Dreams Manila for little over PHP 1.50 billion, a 3.7% decrease from the year before.
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Original story by: GGRAsia
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