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Market · Mon 3 Aug · 2 min read

Belle's Q2 jump confirms mass-market thesis again

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What happened

Belle Corp reported its Q2 share of gaming revenue from City of Dreams Manila at PHP467.2 million (approximately USD7.6 million), up 37.5 percent year-on-year. The result was filed directly with the Philippine Stock Exchange. Belle holds a revenue-sharing interest in the CoD Manila casino operation run by Melco Resorts. This number reflects Belle's slice, not total CoD Manila revenue, so the underlying property performance is materially larger.

This Q2 print follows City of Dreams Manila's reported H1 market share gain of 23 percent, reported the prior week. Two consecutive data points now confirm the same directional story: CoD Manila is taking share in a quarter when PAGCOR's aggregate gaming revenue figures declined.

Why it matters

Sources: GGRAsia

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