Premium Leisure Corp has reported a 51% growth.

divya939393

"Premium Leisure Corp (PLC) in the Philippines, which is part of the real estate company Belle Corporation, reported a 51% growth in net income for the eight months ending on August 31, 2023. Net income surged to 1.73 billion Philippine Pesos, approximately $30.5 million USD, compared to the same period last year. Part of the reason for this increase is its contribution to the success of City of Dreams Manila.

Belle Corporation owns the land upon which City of Dreams Manila is built, and the New Asean Gaming (Philippines) Corporation pays rent for using this land. PLC's revenue-sharing agreement with Melco has also contributed to its income. As of August, PLC's share of income increased by 26%, which is a substantial change. This growth has pushed the total value in the Philippines to 17 billion Pesos, surpassing the previous year's 13.5 billion Pesos.

Pacific Online Systems Corporation (POSC), a company under PLC, experienced significant revenue growth. POSC, particularly, which develops and manages online computer systems, terminals, and software for the Philippine lottery business, reported substantial revenue growth, reaching 453.5 million Philippine Pesos (about $8 million USD). It represents a remarkable growth rate of 45%.

The Philippine Charity Sweepstakes Office (PCSO) and POSC recently announced their intention to enter the online gaming sector to meet customer demand for more digital options. In August of this year, POSC and PCSO signed an official memorandum and began a one-year trial period for the Web-Based Application Betting Platform (WABP) development.

PCSO is pursuing the primary objective of WABP, aiming to create and support a more flexible and modern betting platform to keep up with market trends and technological advancements. The agreement includes a one-year trial period during which Pacific Online will be the sole agent of PCSO. Pacific Online will receive 14% of PCSO's total sales through WABP. The agreement may be renewed."

Maya173

As long as there is growth, it indicates there is income.

Janak9955

The growth is indeed quite substantial!

Kahn332

This growth is very high indeed.

Kalkin995

It's all news about growth, indicating that people are willing to spend money.