Belle H1 profit rises 22% on stronger gaming revenue

MANILA, Philippines — Sy family-backed Belle Corp. posted a 22 percent rise in first-half net income as stronger gaming revenues and lower financing costs offset higher expenses.

In its quarterly report, the leisure and gaming firm said net income reached P976.8 million in the first six months of 2026, up from P801 million a year earlier.

**READ: Belle Q1 profit rises 13% to P524M **

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“The increase in revenues, complemented by lower financing costs, resulted in an improvement in net income,” the company said.

Consolidated revenues rose 10 percent to P2.73 billion, led by Belle’s share in gaming revenues from City of Dreams Manila via Premium Leisure Corp., which climbed 23 percent to P952.9 million.

Real estate revenues grew 5 percent to P1.52 billion. Lease income from City of Dreams Manila was steady at P1.18 billion, while revenues from Tagaytay Highlands rose 28 percent to P342.8 million, driven by stronger property sales. Real estate sales alone surged 121 percent to P163.3 million.

READ: SM Investments profit in 2025 climbs 10% to P90.5B

Revenue from distribution utilities increased 19 percent to P155.1 million, while equipment rental income from Pacific Online Systems Corp. was flat at P258.9 million.

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Total costs and expenses rose 10 percent to P1.53 billion, reflecting higher administrative, lease and real estate costs. Still, operating income grew 11 percent to P1.2 billion.

Financing costs fell 27 percent to P246.5 million as debt declined to P4.21 billion from P7.47 billion a year earlier.

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As of end-June, total assets stood at P53 billion, while liabilities fell 10 percent to P13.04 billion. Equity edged up to P39.93 billion, supported by earnings.

Belle said it expects no liquidity issues over the next 12 months, citing steady cash generation and compliance with debt covenants. /pai INQ