IEC full-year revenue rises

Full-year revenue rose 146 per cent year-on-year.

Hong Kong.- International Entertainment Corporation (IEC) has shared its financial results for the financial year 2025. It’s reported revenue of HK$566.2m (US$72.5m). That’s an increase of 146 per cent in year-on-year terms. The company attributed the rise to the first full year operating its Manila casino under a provisional licence.

Gaming revenue stood at HK$509.9m (US$65.5m), up 200 per cent from the prior year. Hotel operations revenue was down 6 per cent when compared to the previous year to HK$56.2m (US$7.2m), mainly due to the renovation of hotel rooms. Gross profit almost doubled to HK$273.2m (US$35.15m), but the margin fell to 48.3 per cent due to gaming taxes and licence fees.

IEC reported a loss attributable to its owners of HK$282.1m (US$36.3m). That compares to a HK$132m loss in the previous year. The loss per share stood at 20.61 HK cents. The company attributed this to higher staff and utility costs, increased marketing expenses, and a one-time write-off of leasehold improvements after the casino renovations. Finance costs rose to HK$91.8m because of new borrowings for operations and development.

The company said about renovations: “The board believes that the implementation of the renovations will improve the appearance and condition of the hotel’s facilities, modernise outdated amenities, enhance its overall quality and promote premium customer experiences at both the casino and the hotel. In the long term, this will increase the hotel’s occupancy rates and encourage spending at the casino and the hotel.

“Moreover, the renovation work will create additional gaming space on the ground floor of the casino. As a result, the maximum number of gaming tables will increase from approximately 80 to over 110, and the maximum number of slot machines will increase from approximately 500 to over 920 in the coming financial year. The company is optimistic that the expansion of the casino’s gaming capacity will improve the future revenue of the casino.

It noted: “Challenges such as geopolitical tensions may impact the pace of the global economy’s recovery. The group remains cautiously optimistic about the outlook of the tourism and gaming industries in the Philippines. The group will continue to focus on its business operations and investments in the Philippines, leveraging the business environment to explore potential business opportunities.”

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Full-year revenue rose 146 per cent year-on-year. Hong Kong.- International Entertainment Corporation (IEC) has shared its financial results for the financial year 2025. It’s reported revenue of HK$566.2m (US$72.5m). That’s an increase…