Premium Leisure Corp., a listed company that holds investments in Philippine gaming-related business, said Friday net profit last year surged 85 percent to P2.32 billion, powered mainly by strong casino operations at the City of Dreams Manila.Total revenue last year increased 41 percent to P2.94 billion.
Premium Leisure is a subsidiary of Belle Corp., a unit of the Sy Group’s SM Investments Inc. Through its partnership with Melco Resorts and Entertainment (Philippines) Corporation, the company has an interest in the development of City of Dreams Manila, an integrated entertainment and gaming complex located at the Philippine Amusement and Gaming Corp.’s Entertainment City.
Premium Leisure also owns
50.1 percent stake in Pacific Online Systems Corporation, a publicly-listed company that provides lottery software and equipment to the Philippine Charity Sweepstakes Office.The listed company’s share of gaming revenue through its wholly owned subsidiary PremiumLeisure & Amusement, Inc. jumped by 50 percent to P2.34 billion in 2023 due to significantly enhanced mass and VIP operations at City of Dreams.
Meanwhile, Pacific Online Systems Corporation, PLC’s majority owned subsidiary, also delivered solid results, achieving a net income of P275 million in 2023, 44 percent higher than 2022’s P191 million.
