Belle gaming revenue share rises 38% in Q2
Higher gaming revenue from City of Dreams Manila contributed to double-digit growth in second-quarter revenue and net income.
The Philippines.- The gaming and property developer Belle Corporation has reported higher earnings in the second quarter of 2026 after stronger returns from its revenue-sharing agreement with Melco regarding City of Dreams Manila. Its Premium Leisure Corporation subsidiary’s share of gaming revenue from the integrated resort increased 37.5 per cent year-on-year to PHP467.2m (US$7.62m) during the three months ended June 30.
Second-quarter net income rose 33.6 per cent to PHP452.4m (US$7.38m), while total revenue increased 11.9 per cent to PHP1.31bn (US$21.37m). The cost of gaming operations remained broadly unchanged at PHP36.8m (US$600,000).
For the first half of 2026, Belle’s gaming revenue share reached PHP952.9m (US$15.54m), up 23.4 per cent from PHP772.3m (US$12.60m) in the corresponding period last year. The company’s gaming and gaming-related business, which also includes lottery operations, reported a 28.2 per cent increase in net profit to PHP824.1m (US$13.44m), while segment revenue rose 12.7 per cent to PHP1.23bn (US$20.07m).
Across the group, consolidated net income climbed 21.9 per cent to PHP976.8m (US$15.93m) on revenue of PHP2.73bn (US$44.52m), representing growth of 10.3 per cent year-on-year. Belle also benefited from lower financing costs during the period. Interest expense and other financing charges fell 27 per cent to PHP246.5m (US$4.02m) after outstanding debt declined 44 per cent year-on-year to PHP4.21bn (US$68.67m).
Revenue from leasing land and property used by City of Dreams Manila remained stable at PHP1.18bn (US$19.25m). Rental income from gaming equipment also showed little change.
Belle and Melco are co-licensees of City of Dreams Manila under a licence issued by the Philippine Amusement and Gaming Corporation (PAGCOR). Separately, Belle continues to pursue plans for a second integrated resort in Clark after previously securing a provisional PAGCOR licence for the proposed development.
