Belle Corp Profit Rises 31.5% Amid Shifting Revenue Mix

Belle Corporation reported a 31.5% increase in consolidated net profit for Q3 2026, reaching PHP684.6 million ($10.7 million), despite a 2.8% decline in its gaming revenue share from City of Dreams Manila. This growth was primarily driven by stronger lottery equipment rentals and reduced financing costs.

What Happened

Belle Corporation’s consolidated net profit for the third quarter of 2026 rose 31.5% to PHP684.6 million ($10.7 million), while overall revenue increased 12.9% to PHP1.59 billion ($24.8 million) (iGaming Today). This occurred despite a decline in the company’s share of gaming revenue from City of Dreams Manila (iGaming Today, iGaming Insider).

The gaming revenue share from City of Dreams Manila, received through Belle’s subsidiary Premium Leisure Corporation, amounted to PHP530 million ($8.3 million) for the quarter ending September 30 (iGaming Today). This figure represents a 2.8% decrease compared to the same period a year prior (Belle reports Q3 gaming share from City of Dreams Manila down 2.8% y/y). However, this decline was offset by a significant increase in lottery equipment rental revenue, which nearly tripled to PHP358.4 million ($5.6 million) (iGaming Today). This revenue stream is generated by Pacific Online Systems Corporation’s PinoyLotto Technologies Corporation joint venture, which leases online lottery equipment to the Philippine Charity Sweepstakes Office (iGaming Today).

Additionally, Belle Corporation reported a 34.8% reduction in interest and finance expenses, which fell to PHP111.6 million ($1.7 million). This decrease further supported the company’s earnings growth during the quarter (iGaming Today). The group also generated stable rent revenue from Melco Resorts and Entertainment (Philippines) Corporation, with quarterly lease revenue at PHP591.7 million ($9.2 million), marginally higher than the previous year (iGaming Today).

Key Details

• Belle Corporation’s consolidated net profit increased 31.5% to PHP684.6 million ($10.7 million) in Q3 2026 (iGaming Today).
• The company’s gaming revenue share from City of Dreams Manila declined 2.8% year-on-year to PHP530 million ($8.3 million) for the quarter (Belle reports Q3 gaming share from City of Dreams Manila down 2.8% y/y).
• Lottery equipment rental revenue nearly tripled to PHP358.4 million ($5.6 million), significantly offsetting the decrease in casino gaming revenue share (iGaming Today).
• Interest and finance expenses decreased by 34.8% to PHP111.6 million ($1.7 million), contributing to faster profit growth than overall revenue (iGaming Today).
• For the first nine months of 2026, Belle’s gaming revenue share from City of Dreams Manila totaled PHP1.48 billion ($23.2 million), marking a 13% increase year-on-year, despite the Q3 decline (ASEAN Gaming).

Why It Matters

The third-quarter results for Belle Corporation highlight a significant shift in its revenue mix, demonstrating how diversified income streams can mitigate sector-specific declines. The strong performance of lottery equipment rentals and reduced financing costs were critical factors enabling overall profit growth, despite a weaker contribution from its casino gaming revenue share from City of Dreams Manila (iGaming Today). This indicates that the company’s broader profitability is less reliant on its casino gaming income alone (iGaming Today).

What’s Next

No explicit forward-looking information was provided in the source material beyond the reported performance up to Q3 2026 and year-to-date figures.