Casino revenue generated by the gaming business’s share in City of Dreams Manila rose 49.9% year-over-year in 2023 to nearly 2.34 billion PHP ($41.7 million), Bell Corp said in a filing with the Philippine Stock Exchange on Thursday.

Bell has the right to share the revenue or revenue from City of Dreams Manila (pictured) from gaming operations through an operational agreement between Bell’s subsidiary Premium Leisure Corporation and casino group Melco Resorts & Entertainment Inc.

Bell’s consolidated revenue for all of the group in 2023 was just under $5.42 billion, up 3.4% year-over-year. The group also separately operates a lottery business and holds a stake in the property.

Belle reported a net profit of PHP $2.42 billion for 2023, an increase of 41.7% year over year.

In a separate filing on Thursday, Premium Leisure said the increased share of its gaming business was due to “significant improvements in City of Dreams Manila’s bulk and VIP operations.”

Also on Thursday, Melco Resorts said City of Dream Manila’s fourth-quarter operating revenue was $120.5 million, down 3.5% quarter-over-quarter but up 26.6% year-over-year.

The complex showed sequentially flat adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) of $48.8 million in the three months to Dec. 31, compared with $23.6 million in the fourth quarter of 2022.

City of Dreams Manila’s rolling chip volume in the fourth quarter of 2023 was $416.5 million, down $940.7 million from a year earlier. In the last quarter of 2023, the decline in public market table games was $198.2 million, up $148.2 million from a year earlier.

BY: 온라인경마사이트