IEC obtains provisional 3 month licence approved by PAGCOR

Posted: Sep 23, 2020 09:38 Category: Asia , Land-Based , Posted by Maria Debrincat

With the good news of the Philippine licence obtained, the share price of Hong Kong International Entertainment Corporation rose drastically

Marina Square Properties a wholly owned subsidiary of Hong Kong International Entertainment Corporation has obtained a provisional license conditionally approved by PAGCOR in the Philippines. However, the details of the provisional licence agreement have not yet been fully announced. 

Last June, MSPI formally applied for a temporary licence from PAGCOR in the Philippines to expand and optimise its hotel properties, facilities and services by establishing and operating casinos and developing integrated resorts.

International Entertainment Corporation

IEC operates the New World Manila Bay Hotel & Casino in the Philippines and leases casinos and related gaming equipment to PAGCOR. It also has the agency rights to operate live events and poker rooms under the PokerStars brand in Macau, Japan, South Korea, Vietnam, Singapore, Malaysia and Cambodia. 

However, IEC has only recently completed a controversial sale of Wigan Athletic Football Club, which was acquired in November 2018 and then sold to a company owned by IEC chairman and major shareholder Mr. Tsai. But less than a month later, the club initiated the bankruptcy protection procedure, which was called a ‘major global scandal’ by local lawmakers. The complicated process also caused great controversy. 

SiGMA Agenda:

SiGMA Group Americas Digital Summit is running from the 22nd to 24th September, bringing well-known faces from the Latin American gaming and tech sector to a series of in-depth debate panels, with content offered in Spanish, Portuguese, and English.

The 7th edition of SiGMA Europe will move its November event to February 16th to 18th 2021.

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