Belle Corporation, a prominent player in the Philippine gaming and real estate sectors, has reaffirmed its commitment to long-term growth by prioritizing its application for a gaming license in Clark, Pampanga. The company envisions Clark as a thriving hub for gaming and tourism, taking advantage of its strategic location and infrastructure.

Armin Antonio B. Raquel-Santos, Belle’s president and CEO, expressed confidence in the Philippine gaming market’s potential in a statement cited by Context.ph. The CEO also emphasized the role of Clark’s accessibility to international tourist markets, such as China, South Korea, and Japan. This outlook is integral to Belle’s expansion strategy, which aligns with its broader goal of boosting shareholder value and fostering economic development through tourism.

Strategic Investment in Clark

The company, through its 98.26 %–owned subsidiary Premium Leisure Corporation, submitted its application for a gaming license in 2024. If approved, the project will mark a significant milestone in Belle’s portfolio. Clark’s unique position as a former military base with advanced infrastructure, including Clark International Airport, adds to its attractiveness as an investment location.

Raquel-Santos highlighted the resurgence of the tourism sector, underscoring the integral role of gaming in driving this recovery. He noted, “We are committed to identifying ventures with high growth potential, particularly in the gaming space, while ensuring that these align with our broader goals of shareholder value creation and inclusive progress.”

Financial Challenges and Optimism

Despite its ambitious expansion plans, Belle experienced financial setbacks in 2024. For the first nine months, net income dropped by 22% year-on-year to ₱1.52 billion, primarily due to lower gaming revenues. Premium Leisure saw its gaming revenue share decline by 17%, and Pacific Online, its lottery equipment leasing unit, reported a 21% reduction in revenue.

However, Belle’s real estate operations provided a counterbalance. Leasing revenue from City of Dreams Manila surged by 16%, contributing ₱1.74 billion, while overall real estate revenue rose by 10% to ₱2.2 billion. Raquel-Santos remained optimistic, stating that the company is poised to weather industry challenges and leverage its diversified portfolio for sustained growth.

Industry Recognition and Governance

Belle’s dedication to sustainability and transparent reporting has earned it accolades, as Manila Bulletin underlines. In 2024, it received its first Anvil Award from the Public Relations Society of the Philippines, followed by a silver award at the 9th Asia Integrated Reporting Awards. These recognitions underscore Belle’s commitment to accountability and providing stakeholders with accurate and decision-useful information.

As Belle Corp moves forward with its Clark casino application, the company is keen to cement its role in the Philippine gaming sector. Its strategic focus on integrated resorts, combined with its commitment to corporate governance and stakeholder value, positions it as a significant player in the industry. With Clark at the forefront of its expansion, Belle aims to contribute meaningfully to the nation’s economic growth while navigating challenges in an evolving gaming landscape.