Gaming investor Belle Corp revealed a decline in profits to PHP2.9 billion (\u20ac51.4 million) last year. <\/p>\n\n\n\n\n\n\n\n
Philippines.- Gaming investor Belle Corp revealed a 9% decline in net profits to PHP2.9 billion (\u20ac51.4 million) in 2019.<\/p>\n\n\n\n
The company said its numbers were affected by weaker results at Pacific Online Systems Corporation, which leases online betting equipment to the Philippines Charity Sweepstakes Office (PCSO). <\/p>\n\n\n\n
The company saw revenues fall 49% during the year due to competition from small-town lottery operators and a temporary suspension of PCSO and keno operations in the third quarter of 2019.\u00a0<\/p>\n\n\n\n
Belle Corp\u2019s principal asset is the City of Dreams Manila in Entertainment City, which is being leased on a long term basis to Melco. <\/p>\n\n\n\n
The company reported a lower share in gaming earnings at City of Dreams Manila, down 7% to PHP2.98 billion (\u20ac52.9 million) in 2019. <\/p>\n\n\n\n
To help overcome the dip in revenues and profits, the company decreased total costs and expenses by 16 percent to record net income of PHP3.4 billion (\u20ac60.3 million) for the full year.\u00a0<\/p>\n\n\n\n
It was not all doom and gloom for the company; Belle Corp saw an 11 percent increase in revenues in its real estate operations, reaching PHP3.5 billion (\u20ac62.1 million) in 2019. <\/p>\n\n\n\n
This mostly came from Belle\u2019s lease agreement with Melco.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Gaming investor Belle Corp revealed a decline in profits to PHP2.9 billion (\u20ac51.4 million) last year.<\/p>\n","protected":false},"author":2,"featured_media":4010,"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 9% decline in 2019 net profits to PHP2.9 billion, primarily attributed to weaker performance from Pacific Online Systems Corporation and a reduced share in gaming earnings from City of Dreams Manila. Despite these operational headwinds, the company mitigated the impact through a 16% reduction in total costs and an 11% increase in real estate revenues, largely driven by its lease agreement with Melco.","focusai_entities":"Belle Corp, Pacific Online Systems Corporation, Philippines Charity Sweepstakes Office, PCSO, Melco","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.85), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Belle Corp 2020 Outlook","query":"What are Belle Corp's strategic initiatives to mitigate the ongoing competitive pressures in the lottery sector and enhance gaming revenue share from City of Dreams Manila in the upcoming fiscal year?"},{"label":"PCSO Regulatory Impact","query":"How did the temporary suspension of PCSO and keno operations specifically impact Pacific Online Systems Corporation's B2B equipment leasing contracts and what are the long-term implications for its market position?"}],"footnotes":""},"categories":[160,163,16333],"tags":[1428,128],"class_list":["post-4007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-finance-news","category-south-east-asia-news","tag-manila","tag-philippines"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4007","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=4007"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4007\/revisions"}],"predecessor-version":[{"id":4033,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4007\/revisions\/4033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/4010"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}