City of Dreams Manila casino investor, Belle Corp said its operating revenue increased to P5.2 billion (US$111.1 million) in 2015, according to a filing to the Philippine Stock Exchange.
Total net income after tax for the year fell to P1.4 billion in 2015, down from P2.6 billion in the previous year. The company said this was “due to higher extraordinary nonrecurring income in 2014.”
Belle Corp attributed its operating growth in 2015 to higher revenue from its lease of the City of Dreams Manila property to Melco Crown Entertainment, and also increased income contributed by its listed subsidiaries, Premium Leisure Corp and Pacific Online Systems. Premium Leisure Corp has an agreement with Melco Crown which gives them a share of revenue of earnings at City of Dreams Manila.
Belle Corp said the increased operating revenue came from increased revenues from Pacific Online by P587.9 million, comprising of equipment lease rentals, commission and distribution income; as well as an increase in the gaming income share of PLC from City of Dreams Manila P756.2 million in 2015.