IEC has now obtained a Letter of No Objection and a City Council Resolution from the City of Manila stating it does not object to such a development
Hong Kong-listed gaming investor International Entertainment Corp (IEC) is currently preparing an application to the Philippines regulator PAGCOR to develop a casino and integrated resort at its Manila hotel premises, New Coast Hotel Manila. IEC will run the Casino via their Philippines subsidiary, Marina Square Properties, Inc.
The company revealed on Thursday that it has now obtained a Letter of No Objection and a City Council Resolution from the City of Manila stating it does not object to such a development. This Letter of No Objection and City Council Resolution is a requirement for PAGCOR to issue a provisional license.
The PAGCOR application looms as the key step in the company’s IR plans and IEC already leases space at New Coast Hotel Manila, formerly known as New World Manila Bay Hotel, to PAGCOR for gaming operations. The company now wants to “expand and upgradad the current hotel premises, facilities and services by the establishment and operation of a casino and the development of an integrated resort”
IEC recently completed the sale of Wigan Athletic Football Club, which it acquired in November 2018. It also owns the rights to operate live poker events across most of Asia under the PokerStars brand.