• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Premium Leisure 3Q profit up 57pct on gaming revenue

Oct 26, 2017 Newsdesk Latest News, Philippines, Top of the deck  


Premium Leisure 3Q profit up 57pct on gaming revenue

Philippines-based Premium Leisure Corp, one of the partners in the City of Dreams Manila casino resort (pictured), reported net income of approximately PHP427.8 million (US$8.3 million) for the third quarter of 2017, up by 57.4 percent from the prior-year period.

The company generated gross revenue of PHP1.32 billion for the period, an increase of 47 percent from the third quarter of 2016, it said on Thursday in a filing to the Philippine Stock Exchange. Premium Leisure is controlled by Philippines-based Belle Corp.

Premium Leisure said the growth in net income had been supported by “the continued rise in its gaming share revenue from the overall improvement in the Philippine gaming market, particularly the gaming operations of City of Dreams Manila”.

City of Dreams Manila, which is managed by Melco Resorts and Entertainment (Philippines) Corp, is a partnership between casino operator Melco Resorts and Entertainment Ltd and Premium Leisure. The agreement grants Premium Leisure a share of the gaming revenues at the casino resort.

Premium Leisure is entitled to whichever is highest of the following sums: either 50 percent of Melco Resorts Philippines’ gaming earnings before interest, taxation, depreciation and amortisation (EBITDA) after deducting a 7-percent incentive fee paid to Melco Resorts; or 15 percent of net win in the mass-market segment plus 5 percent of net win in the VIP segment.

Total revenue for the nine months to September 30 reached PHP3.84 billion, up 54 percent from the prior-year period, Premium Leisure said. That included approximately PHP2.16 billion from the firm’s share of gaming revenues at City of Dreams Manila, up nearly 95 percent from a year earlier.

Net income for the first nine months of 2017 rose by 94 percent year-on-year to approximately PHP1.53 billion, according to Thursday’s filing.


  • tweet
Related articles
  • Resorts World Manila op 1Q GGR up 43pct y-o-y
    Resorts World Manila op 1Q GGR up 43pct...

    May 25, 2022  

  • Leisure and Resorts 1Q loss widens as costs rise
    Leisure and Resorts 1Q loss widens as...

    May 25, 2022  

More news
  • Alvin Chau indicted for illegal gaming, money laundering
    Alvin Chau indicted for illegal gaming,...

    May 26, 2022  

  • SJM confident of completing refinancing: Daisy Ho
    SJM confident of completing...

    May 26, 2022  


Latest News

Alvin Chau indicted for illegal gaming, money laundering

Alvin Chau indicted for illegal gaming, money laundering

May 26, 2022  

Macau’s Public Prosecutions Office has indicted Alvin Chau Cheok Wa (pictured in a file photo), former boss of Macau casino junket Suncity Group, with illegal gaming, criminal association, fraud,...
Read More
SJM confident of completing refinancing: Daisy Ho

SJM confident of completing refinancing: Daisy Ho

May 26, 2022  

Casino op Genting Malaysia 1Q revenue up 176pct

Casino op Genting Malaysia 1Q revenue up 176pct

May 26, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


540,430

Visitors arrivals to Singapore in the first four months of 2022



Most Popular

  • Wynn Macau Ltd asks managers to take 10pct wage in stockWynn Macau Ltd asks managers to take 10pct wage in stock May 24, 2022
  • Macau op debt to hit US$25bln unless travel eased 2H: MSMacau op debt to hit US$25bln unless travel eased 2H: MS May 24, 2022
  • Alvin Chau indicted for illegal gaming, money launderingAlvin Chau indicted for illegal gaming, money laundering May 26, 2022
  • Outbound group tours still paused: China immigrationOutbound group tours still paused: China immigration May 24, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us