Premium Leisure net income up 52pct in year to Aug

Sep 19, 2023 Newsdesk Latest News, Philippines, Top of the deck  

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Philippine-listed Premium Leisure Corp says it has achieved “excellent” results in the first eight months of 2023, “particularly in its casino and lottery businesses”. That is according to a press release sent to GGRAsia on Tuesday.

The company said its net income in the eight months to August 31 rose 51.8 percent from the prior-year period, to PHP1.73 billion (US$30.5 million).

Premium Leisure is an investor in City of Dreams Manila (pictured), a casino resort in the Philippine capital that is run by a unit of Melco Resorts & Entertainment Ltd. Premium Leisure earns a share – via one of its units – of the gaming revenue generated at City of Dreams Manila.

In Tuesday’s statement, Premium Leisure said its unit’s gaming revenue share from City of Dreams Manila in the first eight months of 2023 increased by 25.9 percent year-on-year, to PHP1.70 billion.

Pacific Online Systems Corp, another Premium Leisure subsidiary, saw its earnings rise 44.6 percent year-on-year, to PHP453.5 million. In the announcement, Premium Leisure said Pacific Online and its lottery partner, Philippine Charity Sweepstakes Office, “will be venturing into online gaming” as more customers “now prefer to go digital”.

Premium Leisure is a firm linked to Belle Corp, also a Philippine Stock Exchange-listed company. Belle’s total net income for the first half of this year was PHP1.31 billion, up 15.1 percent from a year earlier.

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