Belle Corp’s CoD Manila operations paying off

Casino investor Belle Corp saw net profit in the first six months of the year grow 10 percent to P917 million ($19.5 million), according to results from the firm on Friday.

Belle Corp. owns 50 percent of City of Dreams Manila’s gaming operations, which it leases to Melco Crown Entertainment.

“Premium Leisure Corp’s gaming income share for the first half of 2016 almost doubled to P702 million, from P361 million for the first half of 2015. This was attributable to the ramp-up in gaming operations of City of Dreams Manila, which held its grand opening in February 2015,” said the company in a statement.

Belle said it saw higher revenues from the lease of CoD Manila, increasing by 4 percent to P1.1 billion during the first half of 2016.

The company currently owns CoD Manila, as well as real estate assets in Tagaytay City, including leisure estate Tagaytay Highlands.