City of Dreams sends Belle Corp’s earnings soaring by 64%

Leisure estate and gaming company Belle Corporation saw its earnings jump 64 percent in the first nine months of 2016 as the group unlocked higher earnings from City of Dreams manila.

The Philippine Stock Exchange-listed company posted its results this week, which include a consolidated net income of PHP1.9 billion (USD38.81 million) as of September 30—a PHP729 million (USD14.89 million) jump compared to PHP1.1 billion (USD22.47 million) in the same period last year.

“The company’s operating growth in 2016 was fueled primarily by growth in its share in the gaming income of City of Dreams Manila, through its 78.7%-owned subsidiary, Premium Leisure Corporation (PLC),” Belle said in a statement.

Thanks to City of Dreams ramped up gambling operations, PLC saw its gaming income share double to PHP1.1 billion during the nine-month period, from PHP554 million for the comparable period in 2015.