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Belle Corporation
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aka Simple Trader at Bookaka.com
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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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