• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 9 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Belle Corp reports 79% decline in gaming revenue share from City of Dreams Manila in 2020

Ben Blaschke by Ben Blaschke
Wed 21 Apr 2021 at 05:22
City of Dreams Manila

City of Dreams Manila

30
SHARES
738
VIEWS
Print Friendly, PDF & Email

Philippines real estate firm Belle Corporation has reported a 70% year-on-year decline in net income for FY2020, impacted primarily by a 79% fall in its share of gaming revenue from City of Dreams Manila.

Belle Corp, owner of the land and buildings that comprise City of Dreams Manila – which it leases to Melco Resorts and Entertainment (Philippines) – earns a share of revenues from the integrated resort via its 78.7%-owned subsidiary Premium Leisure Corp (PLC).

According to the company’s Annual Report, published Tuesday, gaming revenue share fell from Php2.98 billion (US$61.6 million) in 2019 to Php635.2 million (US$13.1 million) last year due to gaming operations being suspended in March and capacity limited to a maximum 30% upon resumption.

As a result, the company’s net income, which also includes its real estate and property management segments, fell 70% to Php891.7 million (US$18.4 million).

Revenue from real estate proved more resilient, down just 8% year-on-year to Php3.21 billion (US$66.3 million) of which Php2.66 billion (US$55.1 million) came from Belle’s lease of the City of Dreams Manila land to Melco, only slightly down from Php2.67 billion (US$55.3 million) in 2019.

However, revenue of Pacific Online Systems Corporation, which leases online betting equipment to the Philippine Charity Sweepstakes Office for their lottery and keno operations, fell 67% to Php328.4 million (US$6.8 million). Pacific Online is 50.1% owned by PLC.

In outlining its 2020 results, Belle Corp highlighted the fact that it had managed to stay profitable “in spite of economic headwinds caused by the COVID-19 pandemic, as well as by the Taal Volcano eruption in January 2020 which affected its real estate operations in Tagaytay City and Batangas.”

RelatedPosts

Philippines President Marcos open to stricter online gambling regulations if “well-studied”

Philippines President Marcos open to stricter online gambling regulations if “well-studied”

Tue 8 Jul 2025 at 06:21
FBM Philippines kicks-off new “Rain or Shine, It’s Game Time” promotion this week

FBM Philippines kicks-off new “Rain or Shine, It’s Game Time” promotion this week

Tue 8 Jul 2025 at 05:43
DigiPlus launches US$106 million share buyback scheme

DigiPlus launches US$106 million share buyback scheme

Mon 7 Jul 2025 at 10:17
Philippine resort NUSTAR enters strategic partnership with airport hospitality provider Plaza Premium Group

Philippine resort NUSTAR enters strategic partnership with airport hospitality provider Plaza Premium Group

Sun 6 Jul 2025 at 09:11
Load More
Tags: Belle CorpCity of Dreams ManilaManilaMelco Resorts & EntertainmentPhilippinesPremium Leisure Corp
Share12Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Macau’s 2025 visitor arrivals move past 20 million, 26 days earlier than last year

Macau’s 2025 visitor arrivals move past 20 million, 26 days earlier than last year

by Pierce Chan
Tue 8 Jul 2025 at 14:47

The number of visitor arrivals to Macau in 2025 has officially exceeded 20 million, with the milestone coming some 26 days earlier than last year, according to information from the Public Security Police Force (PSP). The 20 million figure had...

SABA Sports unveils QuickBet Widget: Seamless, smart betting across every digital surface

SABA Sports unveils QuickBet Widget: Seamless, smart betting across every digital surface

by Newsdesk
Tue 8 Jul 2025 at 12:59

CLIENT PROMOTION In its latest stride toward redefining sports betting experiences, SABA Sports proudly introduces the QuickBet Widget – a compact yet powerful tool that transforms any digital platform into a high-converting betting environment. Built for speed, flexibility and smart...

Crown saga claims new scalp as Western Australia’s Chief Casino Officer steps down over conflict of interest claims

Crown Perth deemed suitable to maintain casino license after three-year remediation

by Ben Blaschke
Tue 8 Jul 2025 at 12:40

Crown Resorts has cleared the final hurdle in its long path back to full suitability after the Western Australia Government announced that Crown Perth has been found suitable to maintain its casino license. Crown Perth had been found unfit to...

Philippines President Marcos open to stricter online gambling regulations if “well-studied”

Philippines President Marcos open to stricter online gambling regulations if “well-studied”

by Newsdesk
Tue 8 Jul 2025 at 06:21

Philippines President Ferdinand Marcos Jr has expressed cautious support for calls to impose stricter regulations on the growing eGames – or domestic online gaming – sector, provided any such restrictions are based on factual studies. According to state-run Philippine News...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語