Belle Corp, a Philippine conglomerate that targets gaming operations, had a few reasons to celebrate the end of the second quarter this year. In a filing with the Philippine Stock Exchange last Friday, the company saw its net income increase by 10.2%, reaching $17.3 million. This was an increase of about $1.6 million over the same period last year when the company reported $15.7 million in net income.

Belle receives a portion of the gaming revenues or earnings from City of Dreams Manila (CoDM), which is operated by an arm of Melco Resorts. This is due to a 78.7% stake in its Premium Leisure Corp. subsidiary, which has partnered with Melco in the CoDM project.

Gaming revenue for Belle climbed 43.9% year-on-year for the three-month period ending June 30. It reached just over $20.1 million, compared to the $13.98 million generated in the second quarter of 2017. Across the company, revenue increased to $47 million, up 17.1% over the $40.3 million it pulled in during the same quarter last year.

Expenses for gaming operations took a huge nosedive, plummeting 92.7% year-on-year. According to Belle, this was due to “lower consultancy fees and other costs.” Whereas in the second quarter of last year the company spent $1.04 million on gaming operations, it only had to lay $77,217 during the second quarter this year.