Belle Corp records 61% revenue increase in the first half of 2022

Belle Corporation was buoyed by first-half figures for 2022, recording a 61% revenue increase to  Php2.82 billion (US$50.5 million).

The surprising upturn in growth can be attributed to the leasing of the land and buildings at the City of Dreams Manila to Melco Resorts & Entertainment Philippines. This grew 157% from the same period last year to Php$1.04 billion (US$18.6 million). Revenue from real estate increased 119% to Php1.63 billion (US$29.2 million) year-on-year. 
“All of the company’s business units contributed to the growth in revenues, led primarily by higher lease income, better real estate sales and improved share in gaming revenues, achieved through more relaxed restrictions on commercial operations imposed by authorities as the market recovers from the impact of the pandemic,” Belle said in a statement.
Gaming revenues from City of Dreams Manila increased to Php 970.6 million (US$17.4 million). Pacific Online Systems Corporation recorded a 7% increase in revenue to Php218.9 million (US$3.9 million).
Belle’s net income for the first six months of 2022 was up 329% year-on-year to Php1.14 billion (US$20.4 million).

Philippines City of Dreams Manila Belle Corp Financial results Latest news 1H22

Accelerating currency drop of renminbi pressures Macau tourism market
_2025-01-07UN report reveals growing presence of organized crime in pacific islands casino projects
_2025-01-06Macau GGR to grow 8% in 2025, backed by increasing travel spending: Goldman Sachs
_2025-01-03The overnight disappearance of 8XBet: a brand shrouded in controversy
_2025-01-02Macau’s gaming industry on track for strong 2025 kickoff: Citigroup
_2025-01-02China's president urges Macau to continue diversification drive away from gaming
_2024-12-20

Open in new window
View settings