Investment of Up to $1.2 Billion by IEC in the Philippines Planned
Hong Kong's International Entertainment Corp (IEC) Drops a Billion Bucks on Philly Expansion
Hear ye, hear ye! International Entertainment Corp. (IEC), a major player in the entertainment biz, has announced a whopping $1 to $1.2 billion reinvestment into expanding their presence in the vibrant Philippines. No sweat, mate!
Casino Caper at New Coast Hotel Manila
IEC recently scored a provisional license from the Philippine Amusement and Gaming Corp. (PAGCOR) to manage the Casino Filipino New Coast, nestled within the New Coast Hotel Manila. Before, PAGCOR was the direct boss of this casino. Aurelio Tablante, IEC's exec director and hotel ops officer, dropped a juicy tidbit about The Inquirer that the hotel's position near Manila Port, Chinatown, and Koreatown offers a solid advantage for reeling in high-end visitors—especially from Japan and South Korea.
Asia-Pacific Partners in Crime
IEC's not one to rest on their laurels. They're hearting it up with gambling groups across Japan, South Korea, and Southeast Asia to expand their customer base and cater to the regional cravings for primo gaming and leisure experiences.
Facelift for New Coast Hotel Manila
Part of IEC's expansion plans involves serious renovations to the New Coast Hotel Manila and its casino facilities. They're planning on amping up the number of gaming tables from 80 to over 110 and hiking up the number of slot machines from 500 to a jaw-dropping 920. On the hospitality front, the hotel will see an impressive expansion of rooms, growing from about 200 active chambers to a capacious 800. To hook the younger crowd, the hotel's introducing fresh amenities like a happening sports bar and revamped entertainment options.
Philippine Gambling on a Fast Forward
The Philippine gambling scene's on a roll! PAGCOR foresees a 17% spike in total gambling revenue for 2025, with the skyrocketing e-gaming sector leading the charge. In 2024, gross gaming revenues in the Philippines skyrocketed by 24.81% to PHP410.5 billion ($7.2 billion). Shockingly, the e-gaming incomeBOOMSD up by an eye-popping 309.20%, hitting PHP135.7 billion ($2.4 billion).
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Sources: 1. Competitive Landscape Analysis: International Entertainment Corp. (IEC) 2. IEC's Multi-billion Dollar Expansion Plan for the Philippines' Booming Gaming Sector
- The International Entertainment Corp. (IEC) is not only expanding in the Philippines, but is also partnering with gambling groups across Japan, South Korea, and Southeast Asia, aiming to cater to the regional demand for premium gaming and leisure experiences.
- As part of its expansion plans, IEC will be integrating a sports bar and upgrading entertainment options at the New Coast Hotel Manila, in addition to increasing the number of gaming tables and slot machines.
- The New Coast Hotel Manila, now under IEC's management, is strategically located near Manila Port, Chinatown, and Koreatown, providing a significant advantage for attracting high-end visitors from Japan and South Korea.
