{"id":777020523,"date":"2024-11-07T09:59:31","date_gmt":"2024-11-07T12:59:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020523"},"modified":"2026-04-22T04:26:48","modified_gmt":"2026-04-22T07:26:48","slug":"belle-corps-gaming-segment-revenue-down-16-6-in-first-9-months-of-the-year","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/belle-corps-gaming-segment-revenue-down-16-6-in-first-9-months-of-the-year","title":{"rendered":"Belle Corp\u2019s gaming segment revenue down 16.6% in first 9 months of the year"},"content":{"rendered":"\n

Belle Corp’s gaming revenue was PHP1.50bn.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Belle Corp<\/strong> has reported that revenue from its gaming segment<\/strong> in the first nine months of 2024 decreased by 16.6 per cent year-on-year to PHP1.50bn (US$25.5m) due to performance at City of Dreams Manila<\/a>.<\/p>\n\n\n\n

The company’s aggregate net income was down 22.2 per cent year-on-year to PHP1.53bn (US$26.02m). Total revenue was down 4.7 per cent year-on-year to PHP4.10bn (US$69.39m) due to the lower revenue from gaming<\/strong> businesses. The group also runs a lottery operation and has real estate interests.<\/p>\n\n\n\n

Revenue from the lottery services arm,\u00a0Pacific Online Systems Corp (POSC)<\/strong>, which leases online betting equipment to the Philippine Charity Sweepstakes Office<\/a>, posted revenue of PHP398m (US$6.77m). That’s a decrease of 20.8 per cent in year-on-year terms. Belle, via Premium Leisure Corp. (PLC), controls 50.1 per cent of POSC.<\/p>\n\n\n\n

Income from real estate activities increased by 10.1 per cent to PHP2.21bn (US$37.61m). Of this amount, PHP1.74bn (US$29.62m) came from leasing land and buildings at City of Dreams Manila to the Philippine unit of Melco Resorts.<\/p>\n\n\n\n

Pacific Online Systems revenue down amid transition to new system<\/h2>\n\n\n\n

POSC<\/strong>\u00a0has reported net revenue of PHP3.8m (US$64,250) for the first nine months of the year, down 17 per cent year-on-year. The company attributed the decline to the transition from the legacy system to the nationwide lottery system under its joint operation, PinoyLotto Technologies Corp. Net income was down by 98.3 per cent in year-on-year terms from PHP228.2m to PHP3.8m (US$3.89m).<\/p>\n\n\n\n

The lottery firm reported that costs and expenses increased by 33 per cent to PHP360.5m (US$6.15m) due to the transition. Depreciation expenses rose to PHP114.5m (US$1.95m) due to the depreciation of the new equipment and higher costs for communications, repairs and maintenance for the Philippine Lottery System (PLS).<\/p>\n\n\n\n

POSC\u2019s assets decreased 6 per cent year-on-year to PHP1.78bn (US$30.33m), due to a 56 per cent decline in investments held for trading due to the sale of its DigiPlus Interactive shares, while trade and other receivables fell 16 per cent to PHP238.6m (US$4.06m). The company\u2019s cash and cash equivalents rose by 68 per cent in year-on-year terms to PHP577.3m (US$9.86m) mainly due to\u00a0the sale of PLC\u00a0shares to Belle Corp and offset in part by the payment of dividends to shareholders during the period.<\/p>\n","protected":false},"excerpt":{"rendered":"

Belle Corp’s gaming revenue was PHP1.50bn.<\/p>\n","protected":false},"author":176,"featured_media":17907,"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 16.6% year-on-year decrease in gaming revenue to PHP1.50bn for the first nine months of 2024, primarily due to performance at City of Dreams Manila, contributing to a 22.2% decline in aggregate net income. Concurrently, its lottery services arm, Pacific Online Systems Corp (POSC), experienced a 20.8% revenue decrease, largely attributed to a costly transition to a new nationwide lottery system, while real estate income provided a partial offset.","focusai_entities":"Belle Corp, City of Dreams Manila, Pacific Online Systems Corp, Philippine Charity Sweepstakes Office, Premium Leisure Corp., Melco Resorts, PinoyLotto Technologies Corp., DigiPlus Interactive","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), tech_data (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"City of Dreams Performance?","query":"What specific market or operational factors at City of Dreams Manila contributed to the 16.6% decline in Belle Corp's gaming revenue?"},{"label":"POSC System Transition Impact?","query":"What is the projected timeline and total capital expenditure for POSC's transition to the new nationwide lottery system, and what are the anticipated long-term operational efficiencies or revenue uplifts?"}],"footnotes":""},"categories":[163,16333],"tags":[23326,19841,23907],"class_list":["post-777020523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-belle-corp","tag-city-of-dreams-manila","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020523","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=777020523"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020523\/revisions"}],"predecessor-version":[{"id":777020539,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020523\/revisions\/777020539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17907"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}