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Belle profits rise as City of Dreams rebounds

Business | The Stock Market

Belle profits rise as City of Dreams rebounds

By James A. Loyola

Belle Corp. Co-vice Chairman Willy N. Ocier

Belle Corp. Co-vice Chairman Willy N. Ocier

The SM Group’s leisure and gaming unit Belle Corp. posted a 22-percent increase in net income to ₱976.8 million in the first half of 2026 from ₱801 million in the same period last year, driven by a recovery in casino revenues and real estate sales.

According to the firm’s financial statement (FS) filed with the Philippine Stock Exchange (PSE) last week, Belle attributed its higher profits to increased revenues, complemented by lower financing costs.

Consolidated revenues improved 10 percent to ₱2.73 billion in the first six months of 2026 from ₱2.47 billion in the same period last year, with revenues from real estate operations increasing five percent to ₱1.52 billion from ₱1.44 billion in the same period in 2025.

Revenues from leasing the City of Dreams Manila (CODM) to Melco Resorts and Entertainment (Philippines) Corp. (MRP) contributed ₱1.18 billion in the first half of 2026.

Sales of real estate and revenue from property management at Tagaytay Highlands complex rose 28 percent to ₱342.8 million in the first half of 2026 from ₱267.1 million in the same period last year.

The share in gaming revenue at CODM of Belle’s subsidiary, Premium Leisure Corp. (PLC), increased 23 percent to ₱952.9 million in the first half of 2026 from ₱772.3 million in the same period in 2025.

Pacific Online Systems Corp., through PinoyLotto Technologies Corp., a 50-percent-owned joint venture (JV) that leases online lottery equipment to Philippine Charity Sweepstakes Office (PCSO), posted revenues of ₱258.9 million in both the first half of 2026 and the same period in 2025. PLC owns 50.1 percent of Pacific Online.

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Belle Corporation City of Dreams Manila Pacific Online Services Corporation

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