Hong Kong-listed International Entertainment Corp. (IEC) has announced an investment of $1 to $1.2 billion to grow its presence in the Philippines.
Strategic expansion at New Coast Hotel Manila
IEC recently secured a provisional licence from the Philippine Amusement and Gaming Corp. (PAGCOR) to manage the Casino Filipino New Coast, located within the New Coast Hotel Manila. Previously, PAGCOR directly operated this casino.
Aurelio Tablante, IEC’s executive director and hotel operations officer, highlighted in an interview with The Inquirer that the hotel’s location near Manila Port, Chinatown, and Koreatown offers a strong advantage. The company plans to attract high-end visitors from overseas markets, particularly Japan and South Korea.
Partnership plans across Asia
To strengthen its position, IEC is actively seeking partnerships with gambling groups in Japan, South Korea, and Southeast Asia. This move is aimed at building a broader and more diverse customer base, tapping into regional demand for premium gaming and leisure experiences.
Major renovations and facility upgrades
IEC’s expansion plans include significant renovations to the New Coast Hotel Manila and its casino facilities. The company intends to increase the number of gaming tables from 80 to more than 110 and expand the number of slot machines from 500 to over 920.
On the hospitality side, IEC plans to grow the hotel’s capacity significantly, expanding from around 200 active rooms to 800. To appeal to younger audiences, the hotel will introduce new amenities such as a modern sports bar and upgraded entertainment options.
Philippine gaming industry on strong growth path
The Philippine gaming industry continues to show strong momentum. PAGCOR projects a 17 percent rise in total gambling revenue for 2025, driven largely by the fast-growing e-gaming sector.
Recent data shows that gross gaming revenues in the Philippines rose by 24.81 percent to PHP410.5 billion ($7.2 billion) in 2024. Notably, e-gaming income surged by 309.20 percent, reaching PHP135.7 billion ($2.4 billion).
