{"id":29405,"date":"2022-04-29T07:07:34","date_gmt":"2022-04-29T10:07:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29405"},"modified":"2026-04-23T09:10:44","modified_gmt":"2026-04-23T12:10:44","slug":"belle-corp-posts-us6-6m-in-gaming-revenue-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/belle-corp-posts-us6-6m-in-gaming-revenue-for-q1","title":{"rendered":"Belle Corp posts US$6.6m in gaming revenue for Q1"},"content":{"rendered":"\n

Gaming revenue from the City of Dreams Manila dropped 20 per cent to PHP344.3m (US$6.6m) in the first quarter mainly due to Covid-19 restrictions in the Philippines.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- The tourism and leisure developer Belle Corp<\/strong>, a co-licensee of City of Dreams<\/strong> in Manila, has reported that casino revenue declined 20 per cent year-on-year to PHP344.3m (US$6.6m) in the first quarter. The company said that the drop was caused by multiple restrictions owing to the Covid-19 pandemic, which limited its operations.<\/p>\n\n\n\n

City of Dreams only resumed operations at full capacity in March after authorities placed\u00a0Manila under the lowest level of Covid-19 countermeasures<\/a>.\u00a0<\/p>\n\n\n\n

Gaming revenue as a percentage of group revenue fell by 21.2 per cent in the first quarter to 26.4 per cent.\u00a0Overall group revenue was PHP1.31bn<\/strong>, up 44.2 per cent year-on-year. Group total net income was up 6.6 per cent year-on-year to PHP476.58m.<\/p>\n\n\n\n

Some PHP564.4m of Belle Corp\u2019s first-quarter revenue came from its real estate operations. This was a 179 per cent increase from last year. For 2021, revenue rose 104.7 per cent<\/a>\u00a0year-on-year to PHP1.30bn (US$24.9m).<\/p>\n\n\n\n

PAGCOR expects to double gross gaming revenue this year<\/h2>\n\n\n\n

PAGCOR chairman and CEO\u00a0Andrea Domingo\u00a0<\/strong>has told Philstar that PAGCOR\u2019s annual GGR could reach around PHP60bn to PHP65bn,\u00a0almost double what it was last year<\/a>. She added that GGR could reach between PHP25bn and PH35bn by the end of the first half.<\/p>\n\n\n\n

Domingo said the economy was picking up after borders opened<\/strong>. She added: \u201cThere are a lot of foreigners coming in now to play because we have casinos, where foreigners predominantly play and where very few Filipinos do a lot of heavy betting.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Gaming revenue from the City of Dreams Manila dropped 20 per cent to PHP344.3m (US$6.6m) in the first quarter mainly due to Covid-19 restrictions in the Philippines.<\/p>\n","protected":false},"author":176,"featured_media":8589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Belle Corp reported a 20% decline in Q1 gaming revenue for City of Dreams Manila due to COVID-19 restrictions, despite overall group revenue increasing by 44.2% driven by real estate. Concurrently, PAGCOR projects a significant rebound in the Philippines' annual GGR, potentially doubling to PHP60bn-PHP65bn, attributing this to border reopenings and increased foreign visitation.","focusai_entities":"Belle Corp, City of Dreams Manila, PAGCOR, Andrea Domingo","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR GGR Drivers?","query":"What specific policy changes or market dynamics, beyond border reopenings, does PAGCOR anticipate will drive the projected doubling of GGR to PHP60bn-PHP65bn?"},{"label":"Belle Corp Diversification?","query":"How sustainable is Belle Corp's real estate revenue growth in mitigating gaming vertical volatility, and what is the long-term strategic allocation between these segments?"}],"footnotes":""},"categories":[157,158,16333],"tags":[23326],"class_list":["post-29405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-belle-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=29405"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29405\/revisions"}],"predecessor-version":[{"id":29415,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29405\/revisions\/29415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8589"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}