Belle Corp’s casino revenue, generated from its share of the gaming business at City of Dreams Manila, increased by 7.8 percent year-on-year in the first three months of 2025, reaching nearly PHP432.6 million (US$7.7 million), it said in a Monday filing to the Philippine Stock Exchange.
Belle is entitled to a share of revenues or earnings from gaming operations at City of Dreams Manila (pictured), in the Philippine capital, through an operating agreement between Belle’s subsidiary, Premium Leisure Corp, and a unit of casino group Melco Resorts & Entertainment Ltd.
Belle said its overall revenues from leasing City of Dreams Manila to the Melco Resorts group stood at PHP588.0 million in the first quarter of 2025, higher than the PHP580.2 million achieved a year earlier.
Belle’s aggregate net income for the three months to March 31 was just below PHP462.4 million, up 5.2 percent from a year earlier. The group also separately operates a lottery business and holds real estate interests.
Pacific Online Systems Corp, which leases online betting equipment to the Philippine Charity Sweepstakes Office for its lottery operations, posted revenues of PHP129.5 million in the first three months of 2025, flat compared to the prior-year period. Belle, via Premium Leisure, controls 50.1 percent of Pacific Online.
Belle reported group-wide consolidated revenues of PHP1.30 billion for the three months ended March 31, down 1.5 percent from the prior-year period.
In February, Melco Resorts said it was considering “strategic alternatives” regarding its role in City of Dreams Manila. Lawrence Ho Yau Lung, company chairman and chief executive, said such an option was aligned with the group’s aim of moving to an “asset-light” investment strategy.
Belle has meanwhile said that a buyout of Melco Resorts’s interest in the City of Dreams Manila casino resort is “not part of Belle’s plans for the immediate future”.
