Business Daily Media

Men's Weekly

.

International Entertainment Corporation: Sets Vision to Expand Investment in Philippine Casino Resorts

HONG KONG SAR - Media OutReach Newswire - 11 April 2025 - Hong Kong-listed International Entertainment Corporation (1009.HK)(IEC or the Company), a Manila-based casino and hotel operator, has struck a provisional licensing deal with the Philippine Amusement and Gaming Corporation (PAGCOR), pledging $1 billion USD to $1.2 billion USD to fuel its forward-thinking growth plans in the Philippines' booming gaming sector.



International Entertainment Corporation has struck a provisional licensing deal with the Philippine Amusement and Gaming Corporation (PAGCOR), pledging $1 billion USD to $1.2 billion USD to fuel its forward-thinking growth plans in the Philippines
International Entertainment Corporation has struck a provisional licensing deal with the Philippine Amusement and Gaming Corporation (PAGCOR), pledging $1 billion USD to $1.2 billion USD to fuel its forward-thinking growth plans in the Philippines' booming gaming sector.

The investment will fund a dual-pronged strategy: refurbishing existing properties and launching new developments to boost capacity and lure more tourists. Management also signaled an intent to pursue further casino resort opportunities in various regions, positioning the company for sustained expansion. To bankroll these efforts, the group is weighing equity financing and/or debt financing—a move that underscores confidence in its long-term vision.

Project Revamp to Attract Younger Clients

Vincent Li, Chief Financial Officer of the group, said that under new licensing requirements, they must fully oversee the operations of their venues and enhance services. This includes renovating existing properties, such as opening a sports bar in January, to draw in more young customers. Data from PAGCOR's third-quarter operations this year shows that local gambling-related revenue surged nearly 40% year-on-year, signaling room for further market growth. As a result, the group plans to develop its remaining undeveloped land over the next three to five years, adding a new integrated complex.

Though not located in Manila's emerging resort city, the project is well-positioned to attract a diverse group of customers, according to Executive Director and Hotel Operations Officer Aurelio Tablante. The property's proximity to Manila Port, Chinatown, and Koreatown gives it access to affluent overseas visitors and draws interest from Japanese tourists. Tablante emphasized that the Philippines' local and international guest markets have fully rebounded. To boost its appeal, the Company is now planning to connect with gambling groups from Japan, South Korea, and Southeast Asia to broaden its customer base.

Casino Ramps Up Expansion to 110 tables next year

According to the Company's recent announcement, a series of renovation work have been carried out at the hotel and integrated resort of the Group with a view to maintaining the hotel in good service and condition, and upgrading infrastructures and facilities of the hotel to complement the operation of the casino. The renovation work will create additional gaming space on the ground floor of the casino, as a result, the maximum number of gaming tables in the casino will increase from the current number of approximately 80 to over 110, and the maximum number of slot machines in the casino will increase from the current number of approximately 500 to over 920.

The Chief Operating Officer Bernard How further elaborated that along with classic baccarat, new games like Pair and Three-Card Lucky 6 options, Caribbean poker, sic bo, and more progressive tables will be added to attract players. Since starting a membership program in May, over 50,000 people have joined. The Company hopes to team up with entertainment and golf partners to bring in even more members.

Renovations have limited the hotel to just around 200 active rooms for now, but the Company projected that the number will rise to 800 once all the work and new additions are finished. The extra rooms are designed to serve high-stakes players and gambling groups. With multiple projects underway, Li indicated the company could seek funding from shareholders and/or debt financing to support the liquidity needs. For now, the group plans to stay in the Philippines, hunting for more local investment options rather than expanding overseas.

Hashtag: #InternationalEntertainmentCorporation #IEC

The issuer is solely responsible for the content of this announcement.

News from Asia

Lee Kuan Yew School of Public Policy Releases Strategic Roadmap for ASEAN's 5G-AI Transformation

New Research Reveals US$130 Billion Economic Opportunity and Outlines Policy Framework to Accelerate Regional Digital Leadership by 2030SINGAPORE - Media OutReach Newswire - 22 July 2025 - The Le...

DFI Retail Group Holdings Limited Half-Year Results For The Six Months Ended 30 June 2025 And Announcement Of Special Dividend

Highlights 39% underlying earnings growth Increased contributions from associates, Health & Beauty and Food Health & Beauty delivered strong like-for-like (LFL...

HeyMax Acquires Hong Kong’s krip to Accelerate Regional Expansion into Loyalty and Rewards Market

HeyMax’s first acquisition fast-tracks its regional expansion, bringing over 6,000 credit card deals offered by over 3,000 merchants, and personalized loyalty experiences to consumers in Hong Kong ...

CUHK Faculty of Engineering: Advancing Innovation Through Research Excellence and Global Collaboration

HONG KONG SAR - Media OutReach Newswire - 23 July 2025 - The Faculty of Engineering at The Chinese University of Hong Kong (CUHK) continues to strengthen its position in global engineering educat...

Adecco Singapore Marks 40 Years of Enabling Talent and Business Growth

SINGAPORE - Media OutReach Newswire - 23 July 2025 - Adecco Singapore has officially commemorated its 40th anniversary with a stakeholder event held at the National Gallery Singapore. The occasion...

Samsung’s Solve for Tomorrow 2025 Youth Innovation Competition is Now On

SINGAPORE - Media OutReach Newswire - 23 July 2025 - Samsung Solve for Tomorrow 2025, the highly-anticipated youth innovation competition, is back for its ninth edition in Singapore! As the natio...

Jollibee Group Evolves its Corporate Brand to Help Power Global Growth

Brand update brings to life its global purpose and positioning as a unified group of brandsMANILA, PHILIPPINES - Media OutReach Newswire - 23 July 2025 - The Jollibee Group, one of the world's fas...

AECOM to enhance mobility across the Greater Bay Area by delivering the Hong Kong Section of Hong Kong–Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai)

HONG KONG SAR - Media OutReach Newswire - 23 July 2025 - AECOM, the trusted global infrastructure leader, today announced that its joint venture with AtkinsRéalis has been awarded the consultancy ...

OCBC Hong Kong Unveils New Brand Campaign

Connected to “As One Group, OCBC Enables Aspiration All Across ASEAN and Greater China” Demonstrating the Unwavering Commitment in Realising Customer’s Aspirations HONG KONG SAR - Media...

X.me Foundation Empowers Global Expansion of the X.me Social Media Platform

SINGAPORE - Media OutReach Newswire - 23 July 2025 - X.me (https://x.me) is a social media platform where users can freely express themselves, share content, engage, and interact while earnin...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Australian Businesses Still Stuck in the AI Hype Cycle

Data Governance Failures, ROI Gaps and Unclear Strategy Slowing Progress Despite artificial intelligence (AI) dominating headlines and boardroom ag...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

Sell by LayBy