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Belle Corporation
[Image: bel.jpg?w=736]
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...keep an eye on gaming firms this year guys


Belle considers City of Dreams Manila expansion

THE GROUP behind City of Dreams Manila plans to expand within and beyond Entertainment City, while leveraging its partnership with Melco Crown Entertainment Ltd. (MCE). to become the country’s biggest integrated resort in terms of gross gaming revenue (GGR) this year.
On the sidelines of the company’s stockholders’ meeting, Belle Vice-Chairman Willy N. Ocier told reporters the 6.2-hectare (ha) City of Dreams Manila is operating at full capacity and the SM-backed company is exploring opportunities for expansion “within that area or anywhere else outside Metro Manila” in partnership with Melco, the operator of the integrated resort.

“City of Dreams is growing significantly and there’s a good chance sometime this year it could be number one in gross gaming revenue among the integrated resorts,” Belle President and Chief Executive Officer Manuel A. Gana said.

Last year, City of Dreams booked a GGR of P25 billion, trailing Bloomberry Resorts Corp.’s P38.54 billion, inclusive of minimal contribution from South Korea’s Jeju Sun Hotel & Casino, according to their respective regulatory filings. Travellers International Hotel Group, Inc. clocked in P23.64 billion.

The local industry’s total GGR, including casinos operated by Philippine Amusement and Gaming Corp. (PAGCOR), reached approximately $3 billion last year.

Belle is riding on the management expertise of MCE in running integrated resorts in China, as it brings in high rollers from “all over Asia.”

“We’re happy we have experts in the international industry helping us operate it and we expect the casino to start more and more fulfilling its promise this year,” Mr. Gana said.

Belle controls 78.74% of Premium Leisure Corp., its gaming subsidiary which in turn owns 100% of Premium Leisure and Amusement, Inc. -- owner of the PAGCOR license for Entertainment City.

2ND CASINO
Belle is filing an application with PAGCOR to put up another casino once it identifies a second location outside Metro Manila.

“We have applied for a second site in line with the fact that our other licensee partners have second sites. We are applying based on the policy of level playing field,” Mr. Ocier said.

The Belle executive was referring to the plan of Bloomberry of billionaire Enrique K. Razon to put up a hotel and casino -- similar to its Solaire Resort & Casino in Entertainment City -- on a 1.5-hectare property within the Vertis North mixed-use development in Quezon City.

Travellers likewise owns Resorts World Manila in Newport City, and is constructing Westside City Resorts World in Entertainment City.

“They (PAGCOR) said they will consider but they didn’t commit...PAGCOR is open to other areas outside Metro Manila especially when it is tourism related,” Mr. Ocier said.

Belle is also eyeing contiguous sites to expand City of Dreams, one of which is a 8,500 square meter (sq.m.) land owned by the company across the property. That may serve as the expansion area for the non-gaming components of the integrated resort, Mr. Ocier said.

In the first quarter, Belle’s consolidated net income surged 90% to P782.50 million from the P412.8 million registered in the same three-month period a year ago, according to a regulatory filing.

“If you’re asking if Okada Manila has cannibalized from us, apparently not. Everybody’s growing,” Mr. Gana said.

Okada Manila is the third, the largest and most expensive development to open within the Entertainment City.

Belle’s recurring net profit rose 84% to P760 million from P412.8 million, without the impact of extraordinary items principally a capital gain on the sale of shares of SM Prime Holdings, Inc. in the first quarter of 2017.

The company’s share in the gaming income of City of Dreams Manila through PLC more than doubled to P721.9 million from P349 million.

The improving relations with China and possible relaxation of visa requirements is seen to further accelerate the growth of the industry.

“We are hopeful that will significantly improve Chinese tourism into the Philippines and by osmosis, the more tourists from China, the more they will contribute to the growth of integrated resorts,” Mr. Gana said.


source: http://www.bworldonline.com/content.php?...&id=144219
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Please be informed that Belle Corporation realized consolidated net income of Php 1.77 billion for the six months ended June 30, 2017, which is 93% above its consolidated net income of Php 917 million for the six months ended June 30, 2016.

http://edge.pse.com.ph/openDiscViewer.do...ecrox.dpbs
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sell on news pala ito...
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...laki rin ng kinita nito ah, may galaw ba sa stock price nya?

COD Manila revenues lift Belle’s bottom line

BELLE Corp., a company part of the SM Group that owns half of City of Dreams (COD) Manila, said its net income grew almost half during the nine months of the year ending September to P2.7 billion, from last year’s P1.9 billion.

Excluding capital gains on sales of noncore investments of P184 million this year and P373 million in 2016, Belle’s recurring net income hit P2.5 billion was higher by 64 percent from P1.5 billion last year.

“The company’s operating growth in 2017 was fueled primarily by growth in its revenues from City of Dreams Manila,” it said, referring to its integrated resort and casino in Entertainment City.

Its share in the gaming income of  COD Manila, through its 78.7-percent owned subsidiary, Premium Leisure Corp., almost doubled to P2.16 billion for the current period, from P1.11 billion last year.

This was attributable to the continued growth of gaming operations at COD Manila.

Premium Leisure has an operating agreement with the Philippine affiliate of Melco Resorts and Entertainment Ltd. (Melco) that accords it a share of gaming revenues or earnings at COD Manila.

“Belle also realized increased revenues from its real-estate businesses,” the company said.

Total real estate-related revenues increased by 10 percent to P2.4 billion for the current period, from P2.1 billion last year.

Of its 2017 real estate-related revenues, P1.7 billion was derived from Belle’s lease of the land and buildings comprising COD Manila to Melco, with the balance of P683 million coming from sales of real-estate products and property management activities at its Tagaytay Highlands and Midlands residential and leisure complexes south of Metro Manila.

Belle’s principal assets include land and buildings in Entertainment City in Parañaque City, which are being leased on a long-term basis to Melco, the operator of the gambling site.

Belle also owns significant real-estate assets in and around Tagaytay City. These assets consist of premium residential properties for sale and approximately 800 hectares of land held for future development, which are near two exclusive world-class golf clubs and one country club built by the company in the 1990s.


source: https://businessmirror.com.ph/cod-manila...ttom-line/
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...uy si Tetangco! nice

Tetangco joins Belle board as independent director

FORMER Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. is joining the board of Belle Corp. as an independent director.

In a disclosure to the stock exchange on Monday, the listed firm said Mr. Tetangco was elected as independent director, alongside former Social Security System President and Chief Executive Officer Emilio S. de Quiros, Jr., who was elected as non-executive director.

Mr. De Quiros has also served as the company’s director from September 2010 to March 2017. 

Prior to holding this position, Mr. Tetangco served two six-year terms as BSP governor from July 2005 to July 2007.

“Under his leadership, the BSP initiated bank regulatory reforms such as on risk management, capitalization increase, asset quality among others,” the company noted in his profile.

Belle has an operating agreement with Melco Crown Entertainment Ltd. that gives it a share of gaming revenues at City of Dreams Manila. Other than this, the company also has upscale property developments in Tagaytay City and Batangas such as Tagaytay Highlands Golf Club and The Parks at Saratoga Hills, among others.

Bell recorded a 37% increase in its attributable profit to P2.17 billion in the nine months ending September, following a 33% jump in revenues to P6.12 billion for the period


source: http://bworldonline.com/tetangco-joins-b...-director/
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3-2

Belle Corp sees net income rise by 13% in 2017

The operator of City of Dreams Manila hits consolidated revenues of P 8 billion as it eyes expansion in the near future

MANILA, Philippines— Belle Corporation (Belle), the gaming and property unit of the Sy family, has seen its bottom line rise on strong gaming revenues.

In a disclosure to the stock exchange on Friday, March 2, Belle said its consolidated net income rose 13% to P3.5 billion in 2017, compared to P3.1 billion the previous year.

Excluding capital gains on sales of non-core investments and non-recurring items, Belle’s recurring net income totalled P3.3 billion for 2017, up 58% compared to its recurring net income of P2.1 billion for 2016.

The gaming and real estate holding firm reported consolidated revenues of P8 billion for 2017, up 27% compared to P6.3 billion in 2016.

Belle subsidiary Premium Leisure Corporation, the operator of City of Dreams Manila, reported a 59% increase in its share of gaming earnings to P2.6 billion from P1.6 billion a year earlier.

Meanwhile, the firm’s real estate arm contributed P3.1 billion in revenues, up 10% from P2.8 billion in 2016.

The bulk of this revenue – P2.3 billion – came from Belle’s lease to Melco Resorts and Entertainment Philippines Corporation (Melco) of the land and buildings that comprise City of Dreams Manila in Entertainment City by Manila Bay.

Another P823 million of revenue, it reported, was from real estate sales and property management activities at its Tagaytay Highlands and Tagaytay Midlands residential and leisure complexes.

In April 2017, Belle announced plans to expand the City of Dreams Manila complex and another casino outside Metro Manila.

Late last month, the firm also declared a regular dividend of P 0.12 per share for a total dividend payment of approximately P1.3 billion, payable on March 23 to shareholders of record as of March 9, 2018.


source: https://www.rappler.com/business/197269-...sults-2017
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4-24

Belle Corp Q1 profit up 10% at P857M

PROPERTY and casino operator Belle Corp. said consolidated net income in the first quarter of 2018 grew 10 percent to P857 million from P783 million a year ago on strong gaming revenues and real estate related income.

In a disclosure on Monday, Belle said recurring net income—excluding capital gains from sales of non-core investments and extraordinary items—rose 17 percent to P888 million from P759 million in the same period last year.

Through its 78.7 percent-owned subsidiary, Premium Leisure Corporation (PLC), Belle Corp.’s earnings before interest, taxes, depreciation and amortization (EBITDA) from its income share in the gaming operations of City of Dreams Manila grew 8 percent to P474 million in the first quarter from P439 million the year before.

Meanwhile, operating income from its property businesses increased 27 percent to P571 million in the first quarter from P451 million in the comparable period last year.

City of Dreams expansion
In a chance interview on the sidelines of Belle Corp.’s annual stockholders’ meeting on Monday, company president Manuel Gana said Belle is set to expand a one-hectare lot within City of Dreams Manila for more non-gaming components.

“We have one hectare across the City of Dreams, across the Hyatt entrance, and we proposed to Melco for an expansion because we need more hotel rooms in City of Dreams. It is almost filled to capacity every time,” Gana said.

“We are waiting to hear back from them, with respect to their plans and designs. The ball is in Melco’s court. They have a lot of things on their plate” right now, he added.

Based on the board of directors’ preliminary discussions, the company may put up more hotel rooms, ballrooms, and swimming pools, Gana said.

“Right now we have more than 900 rooms… and from what I understand, the average occupancy is more than 90 percent,” he said.

Over the next five to 10 years, Belle will also develop an 800-hectare property in Batangas.

Belle declared a cash dividend of P0.12 per share to common shareholders of record as of March 23, 2018, or a total dividend payout of P1.27 billion, up 26 percent from last year.


source: http://www.manilatimes.net/belle-corp-q1...7m/394463/
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4-25

Belle Corp proposes City of Dreams Manila expansion

Philippines real estate investor Belle Corporation has submitted a proposal to its partner, Melco Resorts (Philippines), to expand City of Dreams Manila onto one hectare of vacant lands it holds adjacent to the Entertainment City precinct property.

Belle Corp President Manuel Gana revealed his company’s request while talking with local media on Tuesday, stating that City of Dreams Manila was now running near full capacity and needed to build more room inventory in order to grow.

According to the Philippines Inquirer, the vacant land would be used primarily for non-gaming facilities including at least one new hotel.

“The ball is in Melco’s court. They have a lot of things on their plate,” Gana said, adding that Belle Corp would be willing to develop the land alone should Melco decline the opportunity.

Belle would be “free to do something else,” he said. “We can build our own hotel and capitalize on City of Dreams clientele but we prefer Melco to get involved so it can be consolidated into City of Dreams.”

Gana also expressed an interest in acquiring some of PAGCOR’s casinos via the gaming regulator’s sell-off, pointing to locations in Davao and Laoag as particularly attractive.

Belle Corp announce this week a 10% growth in net income in the three months to 31 March 2018 to Php857 million (US$16.3 million), including an 8% year-on-year increase in income from its revenue share deal with Melco Resorts to Php474 million.


source: http://www.asgam.com/news/item/4627-melc...nsion.html
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