Net income reached P524 million in the first three months of 2026, up from P462 million a year earlier, supported by a 9 percent rise in total revenues to P1.42 billion.
The growth reflects improving performance from the company’s core assets, particularly its stake in City of Dreams Manila and its high-end property developments.
City of Dreams remains key driver
Belle’s share in gaming revenues from City of Dreams Manila rose 12 percent to P486 million, up from P433 million last year, driven by stronger activity at the integrated resort.
The company’s lease income from the land and buildings of City of Dreams remained steady at P588 million, providing a stable and recurring revenue base.
Together, these continue to anchor Belle’s earnings, with gaming-linked income still its largest contributor.
Tagaytay and utilities gain momentum
Belle’s real estate business in Tagaytay Highlands posted a sharp 57 percent increase in revenues to P143 million, signaling renewed demand in its premium residential segment.
Meanwhile, revenues from distribution utilities within the estate rose 18 percent to P72 million, adding to the company’s recurring income streams.
These segments helped offset the more stable performance from other units.
Other units steady
Pacific Online Systems Corp., a 50.1 percent-owned unit of Belle’s gaming arm Premium Leisure Corp., delivered stable revenues of P129 million during the quarter.
While not a major growth driver, the segment continues to provide consistent contribution to the group’s overall earnings.
—Edited by Miguel R. Camus
