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GMA Network
7 days ago
- Business
- GMA Network
SM's Belle Corp. pauses online gaming push
Belle Corp., a subsidiary of SM Investments Corp. (SMIC), has paused its prospects of entering online gaming, as it said it is now on a wait-and-see stance as lawmakers take on proposals to either impose stricter regulations or ban the industry as a whole. According to SMIC president and chief executive officer Frederic DyBuncio, Belle already has an internet gaming license (IGL) as part of its physical license, which it is considering given the boost in online gaming. 'Right now we are thinking of setting up our own online gaming, but we put that on a bit of a pause to see what happens with the regulations, but we're hopeful that the regulations will help us, moving forward, and go back to the physical gaming,' he told reporters in Pasay City. 'We do have IGL license as part of our physical license, and that's something which we are looking at. We wanted to wait and see first how the regulations will affect us,' he added. This comes as a number of lawmakers have pushed for a ban given concerns that addiction is soaring, with more gamblers drawn to online, even accelerated further by advertisements on social media and e-wallet platforms. Several lawmakers have also proposed stricter regulations for online gambling, as they said a total ban would only lead to the public heading to illegal operations. The Department of Health (DOH) has flagged online gambling as a health issue, with President Ferdinand 'Bongbong' Marcos Jr. saying he will study calls to ban the industry. Belle Corp. is engaged in the property development, primarily in the high-end leisure market, and holds various investment holdings including the development of an integrated gaming resort, the City of Dreams Manila Entertainment Complex, and the Tagaytay Highlands residential and mixed-use mountain resort. 'Belle is kinda affected by the online gaming. The revenues of Belle is actually back to the pre-pandemic level. It hasn't grown as fast, obviously, you know, as the online gaming, but we will see what happens to the regulation when that changes,' DyBuncio said. Belle Corp.'s first-half consolidated net income stood at P801 million, down 9% from P882.4 million, as consolidated revenues stood by 10% to P2.474 billion from P2.752 billion last year. Its gaming revenue share for the second quarter fell 18% to P772.3 million from P943 million the same quarter last year. DyBuncio said the company is also awaiting guidance from the Philippine Amusement and Gaming Corp. (PAGCOR) regarding the second casino resort it plans to operate in Clark, Pampanga. SMIC posted a 6% growth in its first-half net income to P42.6 billion, as consolidated revenues increased by 6% to P319.2 billion. Moving forward, DyBuncio said SMIC is optimistic that the company will post a stronger income for the second half, as seen historically. The company in April said it will focus on remaining agile this year, even as the country's fundamentals remain sound amid the ongoing global tensions brought about by the tariffs announced by US President Donald Trump. — RF, GMA Integrated News
Yahoo
27-03-2025
- Business
- Yahoo
SM marks 20 years of growth and value creation
PASAY CITY, Philippines, March 27, 2025 /PRNewswire/ -- SM Investments Corporation (SM Investments) marked two decades of transformative growth as a publicly-listed company on the Philippine Stock Exchange. SM listed on March 22, 2005 with an adjusted price of PHP 123.27 per share. Compared to the March 21, 2025 closing price of PHP800 per share, shares of SM have grown by 549% in the last two decades. Over the course of 20 years, SM's assets grew by 900 percent, delivering a compounded annual growth of 12 percent. In his remarks during the anniversary ceremony, SM Investments President and Chief Executive Officer Frederic C. DyBuncio said the group's remarkable growth is a testament to SM's unwavering commitment to the Filipino people and the vision of its founder, Henry Sy, Sr. "Over the past two decades, we've consistently created value, delivering steady returns to our investors while expanding opportunities for our people and communities. This legacy of growth and value creation continues to drive us forward," Mr. DyBuncio said. SM believes its growth is rooted in strong governance and responsible practices with its board composition predominantly composed of independent directors, providing strategic guidance to the direction of the company. "We continue to invest in green infrastructure, embrace innovation, and support communities across the Philippines. At SM, we are focused on building a responsible, sustainable future for the generations to come," Mr. DyBuncio said. Creating Value for Philippine Investors for the Next 20 Years Looking ahead, Mr. DyBuncio said SM is focused on creating long-term value for investors. "The next 20 years will see SM continue to lead in retail, property, and banking, while expanding into new regions where growth is accelerating, especially in provincial areas," he said. SM Prime Holdings, Inc. is earmarking PHP100 billion this year for its malls, residences and hotels, driven by expectations of a sustained growth in consumer demand and corporate activity. SM Investments announced a USD 1 billion buyback program, the largest and first in its corporate history. "Our buyback program is a clear signal of our confidence in the future of both SM and the Philippine market. We believe in our country's potential and in the enduring value SM will continue to create for its shareholders," Mr. DyBuncio said. Looking Ahead: SM for All In 2024, SM expanded by an additional 619 retail stores, two malls and 73 bank branches, with over 85% of its footprint in the provinces. This brings SM's total footprint to 87 malls, 4,470 retail stores and 2,441 bank branches by end 2024. As SM expands, it continues to broaden access to different markets and enhance synergies across its businesses. "We will continue to expand opportunities for Filipinos, providing greater access to modern retail, banking and integrated property developments that will help foster community, innovation, and sustainability for the next generation," Mr. DyBuncio said. SM founder, Henry Sy believed that business growth and social progress go hand in hand. Guided by this principle, and through the SM Foundation, the group granted 6,619 college scholarships, built 110 school buildings, trained 32,359 farmers, served 1,314,118 patients through medical missions, and Improved 216 health and wellness centers to date. "As we look to the future, we remain focused on inclusivity and empowerment. Our brand promise, "We've got it all for you," has served us well for years. But as we move forward, we aim to build an SM for All, one that reaches and benefits every Filipino, ensuring that our growth is shared by all," he said. About SM Investments Corporation SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy. SM's retail operations are the country's largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the fourth largest private domestic bank. For more information, please visit View original content to download multimedia: SOURCE SM Investments Corporation Sign in to access your portfolio
