• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 28 May 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Rising revenues at City of Dreams Manila helps Belle Corp to US$21 million H1 profit

Newsdesk by Newsdesk
Mon 2 Aug 2021 at 12:17
Rising revenues at City of Dreams Manila helps Belle Corp to US$21 million H1 profit
26
SHARES
654
VIEWS
Print Friendly, PDF & Email

Philippines real estate firm Belle Corporation has reported a 27% increase in consolidated revenues and a 244% increase in consolidated net income for the six months to 30 June 2021, buoyed by improved results at City of Dreams Manila.

Belle Corp, owner of the land and buildings that comprise City of Dreams Manila, earns a share of gaming revenues from the integrated resort plus additional rental income as part of the deal that allows Melco to use the land.

According to the company’s quarterly report, consolidated revenue totalled Php2.54 billion (US$50.8 million), up from Php2.0 billion (US$40.0 million) in 1H20, including a 225% increase in its share of gaming revenue from City of Dreams Manila to Php805.5 million (US$16.1 million).

Revenues from Pacific Online Systems Corporation, which leases online betting equipment to the Philippine Charity Sweepstakes Office for their lottery and keno operations, increased by 14% year-on-year to Php205.4 million (US$4.1 million). Pacific Online is 50.1% owned by Premium Leisure Corp (PLC), of which Belle Corp holds a 78.7% stake.

However, revenues from the leasing of land to Melco Resorts declined 11% from Php1.33 billion (US$26.6 million) for the first six months of 2020 to Php1.19 billion (US$23.8 million) in 1H21.

Belle Corp said its improved 1H21 results were “achieved in spite of the continuing effects of the COVID-19 pandemic.”

Net income for the period was Php1.04 billion (US$20.8 million).

RelatedPosts

Resorts World Manila reports 43% GGR increase in 1Q22 as Philippines reopening takes effect

Resorts World Manila reports 43% GGR increase in 1Q22 as Philippines reopening takes effect

Thu 26 May 2022 at 06:08
Manila gaming venues still closed under two-week trial of new quarantine scheme

Losses grow for Leisure & Resorts World Corp in 1Q22

Wed 25 May 2022 at 18:02
NUSTAR preparing to ramp up gaming operations

NUSTAR preparing to ramp up gaming operations

Mon 23 May 2022 at 05:27
Improved Okada Manila performance not enough to push Japan’s Universal Entertainment Corp back to profit in 2021

Okada Manila to fully recover to pre-pandemic levels by 2023: Fitch

Fri 20 May 2022 at 04:57
Load More
Tags: Belle CorpCity of Dreams ManilaincomeManilaPhilippines
Share10Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Oz Casinos: What now?

Editorial: Does the foreigner-only casino model work?

by Ben Blaschke
Thu 28 Apr 2022 at 15:28

The COVID-19 pandemic, along with the international border closures it forced, is one of a number of recent headwinds to...

Oz Casinos: What now?

Oz Casinos: What now?

by Ben Blaschke
Thu 28 Apr 2022 at 15:14

With three inquiries into Crown Resorts completed, a review into Star Entertainment Group underway and a litany of damning findings...

Off Track: AUSTRAC’s AML Failures

Off Track: AUSTRAC’s AML Failures

by Ben Blaschke
Thu 28 Apr 2022 at 13:16

Australia’s anti-money laundering watchdog has launched civil proceedings against Crown Resorts in what appears to be a reaction to its...

Locals Game

Locals Game

by Ben Blaschke
Thu 28 Apr 2022 at 13:05

IAG recently spoke with Shaun McCamley, former President at integrated resort The Grand Ho Tram Strip on Vietnam’s south-east coast,...

Related Posts

Macau shop owners describe best business in months as Golden Week visitor numbers surge

Macau GDP down 8.9% in the first quarter of this year, gaming down 25.1%

by Pierce Chan
Fri 27 May 2022 at 20:02

According to the Macau Statistics and Census Service (DSEC), Macau’s gross domestic product (GDP) fell by 8.9 percent in real terms in the first quarter of 2022, with “exports of gaming services” falling by 25.1 percent. This is the second...

Satellite casinos can rent out properties, rents not regulated by Gaming Law

Satellite casinos can rent out properties, rents not regulated by Gaming Law

by Andrew W Scott and Pierce Chan
Fri 27 May 2022 at 19:51

Today (Friday 27 May) the Second Standing Committee of the Legislative Assembly of Macau continued its discussions on the new Macau Gaming Law. On the issue of satellite casinos, Committee Chairman Andrew Chan Chak Mo revealed that landlord owners of...

SJM buys Oceanus from parent STDM, plans to return gaming area to Macau government after December 31

SJM buys Oceanus from parent STDM, plans to return gaming area to Macau government after December 31

by Andrew W Scott and Pierce Chan
Fri 27 May 2022 at 14:59

SJM Holdings has announced that it will acquire Oceanus from its parent company STDM and promised to return the Oceanus gaming area to the Macau government after the existing Macau casino gaming concessions expire on 31 December 2022. However, this...

Field of Dreams

Citizen’s group collects required signatures to call referendum on Osaka IR

by Shintaro Kamimura
Fri 27 May 2022 at 06:41

A private citizens group announced on Thursday 26 May that it had collected more than the number of signatures required to call for a referendum challenging Osaka’s IR bid.  Citizens groups opposing casinos spent two months from 25 March to...


HKUST

Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About
  • 中文
  • 日本語

© 2005-2022
Inside Asian Gaming.
All rights reserved.