Renovation works on the ground floor of New Coast Hotel Manila, operated by International Entertainment Corporation (IEC), were completed in January 2026, as part of the group’s efforts to enhance operational capacity and support long-term growth.
In a filing to the Hong Kong Stock Exchange, the company said the project expanded the number of gaming tables from 99 to 116 and increased slot machines and electronic gaming machines from 517 to 664.
The upgrade formed part of the company’s broader modernization program,, which aims to improve infrastructure and facilities at its integrated resort in the Philippine capital. The group said the project ‘successfully expanded the gaming space’, strengthening its ability to accommodate rising demand and improve overall efficiency.
Gaming revenue jumps 84.4%
During the six months ended December 31st, 2025, revenue from the gaming operation segment rose 84.4 percent year-on-year to approximately HK$442.5 million ($56.6 million), compared with about HK$240 million ($30.7 million) in the previous period. Gaming activities accounted for around 96.4 percent of total group revenue, up from 89.7 percent a year earlier.
Despite the strong revenue growth, International Entertainment recorded an attributable loss of HK$85.8 million ($11 million) for the period, narrowing by 9.7 percent from a loss of HK$95 million ($12.1 million) one year prior, according to its interim results filing. Management attributed the improvement mainly to higher land-based casino revenue and increased commission income.
The company noted that the Philippines continues to strengthen its position as a regional hub for gaming and tourism, supporting the recovery of its core operations. In its business review, the group said the performance of the gaming segment ‘has shown significant improvement’ amid a gradual rebound in visitor traffic.
Hotel operations, however, were negatively affected by the renovation program. Revenue from the hotel segment declined 40.4 percent year-on-year to approximately HK$16.5 million ($2.1 million), largely due to the temporary closure of certain rooms for refurbishment. The group said the renovation initiative was intended to ensure that the hotel ‘maintains premium service standards that complement the Casino’s evolving operations.’
Further facility upgrades are scheduled for completion in the coming months, with management expecting a grand reopening of the hotel in July 2026. The company said the enhancements are designed to ‘elevate the overall guest experience’ and drive higher occupancy and sustained revenue growth across both gaming and hospitality segments.
DigiPlus deal heads to shareholder vote
Separately, the group has scheduled an extraordinary general meeting on February 26th, 2026, at which shareholders vote on a proposed financing arrangement with DigiPlus Interactive Corp. Under the plan, International Entertainment intends to issue up to HK$1.6 billion ($204.6 million) in five-year convertible notes, carrying an annual interest rate of 3 percent.
If fully converted, the notes would significantly increase DigiPlus’s equity stake in the company. As a result, International Entertainment is also seeking shareholder approval for a Whitewash Waiver, which would exempt DigiPlus from making a mandatory takeover offer under Hong Kong’s Takeovers Code.
Management said the transaction is aimed at strengthening liquidity and supporting its long-term investment commitments, including its $1 billion-$1.2 billion development obligation under its provisional license from the Philippine Amusement and Gaming Corporation (PAGCOR).
Amid improving market conditions, the group cited market research projecting that the Philippine casino gambling market will reach $3.75 billion by 2033, supported by infrastructure upgrades, expanded visa-free entry, and intensified tourism promotion. The company said its expanded gaming capacity and upgraded facilities position it to capitalize on these growth opportunities.
