MANILA, Philippines — Leisure estate and gaming firm Belle Corp. reported a strong start to the year, with its first-quarter net income climbing 13 percent to P524 million. The SM Group-affiliated company announced on Monday, April 27, 2026, that the growth was fueled by a robust performance across its gaming and real estate portfolios.
Total revenues for the first three months of 2026 reached P1.42 billion, a 9-percent increase compared to the same period last year.
A significant portion of the company’s earnings was driven by its interests in City of Dreams Manila:
- Revenue Growth: Gaming revenues, managed through subsidiary Premium Leisure Corp. (PLC), rose 12 percent to P486 million.
- Steady Lease Income: Income from the lease of land and buildings at City of Dreams Manila remained stable at P588 million.
- Lottery Operations: Pacific Online Systems Corp., a unit under PLC that provides lottery equipment and software, maintained steady revenues of P129 million.
The company’s high-end leisure developments also saw substantial gains:
- Tagaytay Highlands: Real estate revenues from the mountain resort development surged by 57 percent to reach P143 million.
- Utilities: Income from utility services at its developments grew by 18 percent, totaling P72 million for the quarter.
Belle Corp.’s positive performance reflects a broader recovery in the Philippine tourism and leisure sectors. The growth at City of Dreams Manila indicates sustained domestic and international interest in the country’s integrated resorts, while the spike in Tagaytay Highlands sales suggests continued demand for luxury second homes and leisure estates.
As a key player in the Philippine gaming and leisure industry, Belle Corp. is well-positioned to benefit from the government’s push for infrastructure development in Southern Luzon, which improves accessibility to its premier real estate projects. The company remains focused on maximizing its core assets while exploring strategic expansions within the SM Group’s broader ecosystem.
