Belle Corp’s gaming revenue as generated from its share of the casino business at City of Dreams Manila fell 37.3 percent year-on-year in the three months to June 30, reaching PHP339.7 million (US$5.9 million), it said in a filing to the Philippine Stock Exchange. That compared to just under PHP541.8 million in the second quarter of 2024.
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 PHP588.1 million in the second quarter of 2025, 1.4 percent higher than the PHP580.2 million in the second quarter of 2024.
Belle’s aggregate net income for the three months to June 30 was PHP338.6 million, down 26.8 percent sequentially from first-quarter’s PHP462.4 million. Judged year-on-year, second-quarter 2025 net income fell 23.5 percent year-on-year from second-quarter 2024’s PHP442.6 million
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”.
