Recent gambles by Philippine-based Belle Corp look to be paying off, as the company announced on Monday that they recorded record revenues for 2018. This came on the strength of their casinos, which saw a drastic increase in profits.
According to documents filed with the Philippine Stock Exchange, the company saw its annual increase rise by 10% to a total of PHP 3.6 billion ($69 million USD). The total amount of consolidated revenue also saw a dramatic increase of 6% to a total of PHP 8.5 billion ($160 million USD).
The dramatic increase in total revenue came as a direct result of gaming earnings. According to the report, Belle reported an increase of 23% in terms of its gaming revenue from the City of Dreams Manila casino.
This was not the only area where they saw a dramatic increase, however. The real estate arm of Belle Corp also reported an increase of 9% in revenue from 2017, going from P3.1 billion ($59 million USD) to P3.4 billion ($65 million USD). A huge portion of this revenue came from the leasing of land and buildings that were part of the Manila Melco Resorts and Entertainment project. This was an increase of 6% over what the company raised in 2017.