Belle raises P280 milion from sale of treasury shares

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March 6, 2026 | 12:00am

MANILA, Philippines — Belle Corp., one of the portfolio investments of the Sy family’s SM Investments Corp., has raised P280 million in fresh capital through the sale of its treasury shares.

Belle sold 200 million treasury shares at P1.40 per share through a block sale.

The shares were purchased by Pacific Online Systems Corp., a Belle subsidiary engaged in the development and management of online computer systems, terminals and software for the country’s lottery industry.

Pacific Online said it would provide the other details of its acquisition through the filing of the requisite material related party transactions disclosure, as the transaction is valued at more than 10 percent of the company’s total consolidated assets based on its latest audited financial statements.

Belle’s board earlier approved the sale of its 200 million treasury shares to liquefy some of its dormant assets and raise fresh capital, to be used partly for the company’s forthcoming projects.

Belle is a co-licensee and owner of the land where City of Dreams is located.

Its integrated resort in Entertainment City is being leased on a long-term basis to Melco Resorts and Entertainment (Philippines) Corp., which holds an operating agreement with Premium Leisure Corp. (PLC) subsidiary PremiumLeisure and Amusement Inc.

In 2024, Belle, through its gaming-focused subsidiaries under PLC, filed an application for a gaming license to develop an integrated resort in the former American air base in Clark, Pampanga.

The move to develop an integrated resort in Clark underscores the company’s intent to cement its position in the gaming sector, while contributing to the nation’s economic development through tourism.