MANILA, Philippines — Belle Corp., one of the portfolio investments of the Sy family’s SM Investments Corp., will continue to bet big on the Philippine gaming market as it explores more growth opportnities in the gaming space.
Belle president and CEO Armin Raquel-Santos said that he remains upbeat on the company’s growth prospects.
Bullish on the country’s gaming market and its resilience despite industry headwinds, gaming-focused investment companies of subsidiary Premium Leisure Corp. (PLC) last year applied for a gaming license from government regulators to develop an integrated resort in Clark, Pampanga.
Belle sees Clark emerging as the next gaming and tourism hub in the country.
Raquel-Santos said that Belle, through its gaming subsidiaries, continues to explore and pursue related ventures and high-growth opportunities in the gaming space that will enhance shareholder value.
Belle is a developer of world-class resort destinations, gaming and leisure properties such as City of Dreams Manila and Tagaytay Highlands.
Belle is a co-licensee and owner of the land where City of Dreams is located.
The company’s integrated resort in PAGCOR’s Entertainment City is being leased on a long-term basis to Melco Resorts and Entertainment (Philippines) Corp., which holds an operating agreement with PLC subsidiary PremiumLeisure and Amusement Inc.
Aside from lease income, Belle earns gross gaming revenues from City of Dreams Manila through its 98.26 percent ownership in PLC and owns approximately 1.5 hectares of presently undeveloped land from across the site.
It likewise owns significant real estate assets in the Tagaytay Highlands, Midlands and Greenlands complexes where it develops premium residential resort projects south of Metro Manila and holds majority proprietary shares in its exclusive club and golf facilities.
Belle said that as the company continues to pursue new avenues of growth for its diverse businesses, it remains mindful of its commitment to sustainability, good corporate governance, transparency and accountability.
“Our shareholders can expect us to continue to operate responsibly, serve our communities and create value,” Raquel-Santos said.