Net profit of Philippine-listed leisure estate and gaming firm Belle Corp. surged by 37 percent in the past nine months of the year on the back of solid gaming revenue.

Belle announced in a disclosure to the Philippine Stock Exchange that its net profit attributable to the equity holders of parent firm grew to PHP2.2 billion (US$42.88 million) thanks to the thriving integrated gaming resort City of Dreams Manila (COD Manila).

Willy Ocier, vice chairman of Belle, is optimistic that “the best is yet to come” even as the company’s third quarter net profit slid by 15 percent to PHP715.57 million (US$13.95 million) from PHP841.82 million in the prior-year quarter. Total third-quarter revenue was PHP2.097 billion, compared to PHP1.598 billion a year earlier.

The company told investors that the lower third quarter profit was due to larger one-off gains from the sale of noncore investments last year alongside the surge in general and administrative expenses this year.