Belle Corp. posts higher Q1 results on real estate, gaming gains

LISTED Belle Corp. reported a 13.75% increase in its first-quarter (Q1) attributable net income to P510 million from P448.34 million in the same period last year, driven by higher revenues.

For the January-to-March period, the company posted a consolidated net income after tax of P524 million, up 13% from P462 million a year earlier, as total revenues rose 9% to P1.42 billion from P1.30 billion.

“Belle’s core operations during the first quarter of 2026 remained strong,” the company said in a statement on Monday.

Aggregate revenues from real estate operations increased 8% to P802.4 million from P739.7 million in the same period of 2025.

Lease income from City of Dreams Manila (CODM) under Melco Resorts and Entertainment (Philippines) Corp. contributed P587.6 million in 2026.

Revenues from real estate sales and property management at Tagaytay Highlands reached P214.8 million in the same period, up 42% from P151.7 million last year.

Premium Leisure Corp.’s (PLC) share in gaming revenue from CODM rose 12% to P485.7 million in the first quarter of 2026 from P432.6 million in the same period of 2025.

Pacific Online Systems Corp., through its 50%-owned joint venture PinoyLotto Technologies Corp., reported revenues of P129.5 million for both comparable periods in 2026 and 2025. PLC holds a 50.1% stake in Pacific Online.

Gross expenses increased 11.77% to P763.81 million from P683.36 million in the previous year.

At the local bourse on Monday, shares in Belle Corp. fell 2.29% to P1.28 each. — Alexandria Grace C. Magno