Real estate and gaming firm Belle Corporation is optimistic about its growth prospects amid a bullish outlook for the Philippine gaming market—particularly in Clark, Pampanga, which is emerging as the next gaming and tourism hub.
In a disclosure to the Philippine Stock Exchange, Belle President and Chief Executive Officer Armin Raquel Santos noted the resilience of the local gaming business despite headwinds faced by the industry.
Belle’s 98.26 percent-owned subsidiary, Premium Leisure Corporation, has applied for a gaming license from government regulators to develop an integrated resort in the former American air base.
Raquel Santos added that Belle, through its gaming subsidiaries, continues to explore and pursue related ventures and high-growth opportunities in the gaming space that will enhance shareholder value, while delivering on its commitments to all stakeholders.
As Belle continues to pursue new avenues of growth for its diverse businesses, the firm said it is ever mindful of its commitment to sustainability, good corporate governance, and transparency and accountability.
Recently, the company received the Silver Award in the mid- and small-cap companies (SME) category at the 9th Asia Integrated Reporting Awards (AIRA).
“Belle is proud to achieve its first-ever Asian award,” said Raquel Santos. “This win is a manifestation of our strong commitment to transparent, balanced and accurate reporting. Our shareholders can expect us to continue to operate responsibly, serve our communities and create value.”
Regarded as one of the highest recognitions in integrated reporting, the award highlights how Belle, which has been publishing sustainability and integrated reports since 2018, included decision-useful information on governance, strategy, performance, and its future prospects in its reports.
In early 2024, Belle also notched its first Anvil Award from the Public Relations Society of the Philippines (PRSP) for the same report in the PR Tools: Publications category after undergoing a three-tier judging process and scoring high marks in all criteria by a panel comprised of industry experts from the Philippines and neighboring Southeast Asian countries.
Belle is a developer of world-class resort destinations, gaming and leisure properties in the Philippines such as City of Dreams Manila and Tagaytay Highlands.
Its integrated resort in Pagcor Entertainment City is being leased on a long-term basis to Melco Resorts and Entertainment (Philippines) Corporation, which holds an operating agreement with Premium Leisure Corp.'s (PLC) wholly owned subsidiary Premium Leisure and Amusement, Inc.
Aside from lease income, the company earns gross gaming revenues from City of Dreams Manila through its 98.26 percent ownership in PLC and owns approximately 1.5 hectares of presently undeveloped land across from the site.
Belle also owns significant real estate assets in the Tagaytay Highlands, Midlands and Greenlands complexes where it develops premium residential resort projects south of Metro Manila and holds majority proprietary shares in its exclusive club and golf facilities.