Realty and gaming firm Belle Corp. has expressed optimism about its business prospects despite a challenging environment.
Armin Raquel Santos, Belle president, in a disclosure yesterday noted the potential of Clark in Pampanga as an emerging gaming and tourism hub in the country.
Raquel Santos said through its gaming subsidiaries, Belle continues to explore and pursue related ventures and high-growth opportunities in the gaming space “that will enhance shareholder value, while delivering its commitments to all stakeholders.”
Last year, Belle announced unit Premium Leisure Corp. (PLC) had applied for a gaming license from government regulators to develop an integrated resort in the former American air base.
If granted, this will complement the company’s integrated resort in the Bay area’s Entertainment City currently leased to Melco Resorts and Entertainment (Philippines) Corp.–City of Dreams Manila, the company said.
Aside from lease income, Belle earns gross gaming revenues from City of Dreams Manila through the Entertainment City gaming license to operate an integrated resort, including casino, in the Entertainment City.
Belle closed the first nine months of the year with a profit of P1.53 billion, down from the prior year’s P1.96 billion. Revenues also declined by 5 percent to P4.1 billion from P4.3 billion the prior year.
Belle earlier said its revenue from the share of PLC in gaming earnings of City of Dreams Manila was at P1.5 billion.
