Mar 01, 2024 Newsdesk Latest News, Philippines, Top of the deck  
Belle Corp’s casino revenue generated from its share of gaming business at City of Dreams Manila rose by 49.9 percent year-on-year in 2023, to nearly PHP2.34 billion (US$41.7 million), it said in a Thursday filing to the Philippine Stock Exchange.
Belle is entitled to a share in revenues or earnings from gaming operations at City of Dreams Manila (pictured) through an operating agreement between Belle’s subsidiary Premium Leisure Corp, and a unit of casino group Melco Resorts & Entertainment Ltd.
Belle’s group-wide consolidated revenues in full-year 2023 were just below PHP5.42 billion, up 3.4 percent from the prior year. The group also separately runs a lottery operation and has real estate interests.
Belle reported net income of PHP2.42 billion in 2023, a 41.7-percent increase year-on-year.
In a separate filing on Thursday, Premium Leisure said the increase in the share of gaming business was “due to significantly enhanced mass and VIP operations at City of Dreams Manila”.
Also on Thursday, Melco Resorts said that fourth-quarter operating revenues at City of Dreams Manila stood at US$120.5 million, down 3.5 percent quarter-on-quarter, but up 26.6 percent from a year earlier.
The complex generated adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of US$48.8 million in the three months to December 31, flat sequentially. It compared with US$23.6 million in fourth-quarter 2022.
City of Dreams Manila’s rolling chip volume was US$416.5 million in the fourth quarter of 2023, down US$940.7 million from the prior-year period. Mass-market table games drop increased to US$198.2 million in the final quarter of 2023, compared with US$148.2 million a year earlier.
Apr 19, 2024
Apr 18, 2024
Apr 26, 2024
Apr 26, 2024
Apr 26, 2024
The Edge financial news outlet reported on Friday a statement on behalf of Malaysian businessman Vincent Tan of lottery specialist Berjaya Corp Bhd, describing as “inaccurate” reports of talks on...(Click here for more)
"With our ambition to be the leading gaming platform for the regulated online real money gaming industry, the addition of NeoGames to our team advances our strategy to build global scale and capability"
Trevor Croker
Chief executive of Aristocrat Leisure