Belle Corp revenue down 3.1% in Q1

Belle Corp has reported that first quarter gaming revenue fell 3.1 per cent year-on-year to PHP431.1m (US$9m).

The Philippines.- The tourism and leisure developer Belle Corp, a co-licensee of City of Dreams in Manila, has reported that gaming revenue was down 3.1 per cent year-on-year for the first quarter of 2021.

Belle Corp said revenues had declined due to Covid-19 countermeasures.

The company reported net income of PHP797.4m, up 76.8 per cent year-on-year. Aggregate revenue was down 8.6 per cent year-on-year to PHP1.30bn.

Casinos in Metro Manila were operating at 30 per cent capacity but have been closed since March.

Belle Corp reported in April that gaming revenue for 2020 fell 79 per cent year-on-year to PHP635.2m (US$13.2m).