International Entertainment Corporation (IEC) has announced plans to enter the Philippines’ online gaming sector, revealing it has identified a potential operator target and is currently in negotiations, according to a company filing.
The move marks a strategic expansion beyond its existing land-based casino operations in Manila.
Hong Kong-listed IEC said its subsidiary, New Coast Leisure Inc., was granted an Electronic (e-Casino) Games Operator license in February 2025, allowing it to operate electronic gaming within the Philippines. Since securing the license, the group has conducted feasibility studies and explored investment opportunities in the online gaming segment, culminating in the identification of a potential partner. However, no binding agreement has been signed to date.
The company added that it has engaged a Philippine legal adviser to assess whether the proposed online gaming operations comply with applicable laws, while an international audit firm has been appointed to review internal control measures, including anti-money laundering protocols. Both the legal opinion and internal control review remain in progress.
IEC emphasized that its entry into online gaming will depend on regulatory compliance and adherence to Hong Kong listing requirements. It noted that failure to meet legal standards in relevant jurisdictions could result in regulatory action, including the potential suspension of trading in its shares.
The group’s core asset is the New Coast Hotel Manila, a property acquired from PAGCOR, for which IEC has been undertaking a $1 billion refurbishment to enhance its offerings. The upgrade is ongoing and aims to enhance operational capacity and support long-term growth, with key renovation works already completed in early 2026.
As previously reported by AGB, the fully upgraded property is targeting a July 2026 reopening.
The move into online gaming comes as Philippine gaming operator DigiPlus Interactive Corp is in the process of acquiring a controlling stake in IEC through convertible notes, which could reshape the group’s strategic direction.
IEC has completed the first tranche of subscription notes issuance to DigiPlus, with the second and final tranche expected soon. Upon full conversion, DigiPlus would own a 53.89 percent stake in the company.
