Belle Corp Reports 3% Revenue Growth in 2023 Driven by Gaming Activities

From PHP 5.4 billion ($95.4 million) in 2022 to PHP 5.6 billion ($98.6 million) in 2023, Belle Corp’s consolidated revenues climbed by 3%.

The corporation primarily attributes this development to a rise in other gaming-related revenue streams, namely gaming revenue sharing and leasing of online betting equipment.

Belle Corp, a significant shareholder in City of Dreams Manila (CODM) and a partner in Melco Resorts and Entertainment (Philippines) Corporation (MRP), reports significant achievements to the Philippine Stock Exchange each year.

The CODM casino’s share of the gaming operation brought in over PHP 2.34 billion ($41.7 million) in 2023, a 50% annual increase.

The President and CEO of Belle Corp, Jackson T. Ongsip, talks about the strategic initiatives that CODM has put in place that have helped the mass and VIP segments.

Amidst growing local and international tourist arrivals and intensifying rivalry from other integrated resorts in Entertainment City Manila, these endeavors aimed to enlarge the clientele.

Simultaneously, Belle Corp experienced a staggering 42% increase in its consolidated net income, from PHP 1.7 billion ($30.1 million) in 2022 to PHP 2.4 billion ($42.6 million) in 2023.

In the meantime, PLC’s subsidiary Pacific Online Systems Corporation (Pacific Online), which is concentrated on the national games lottery sector, had a successful 2023.

Revenues of PHP 599.2 million ($10.5 million) were recorded by the firm, which licenses online betting technology and systems to the Philippine Charity Sweepstakes Office (PCSO) for its statewide lottery activities. This is a 15% increase from PHP 519.1 million ($9.1 million) in 2022.

Original Story by: Asian Gaming Brief