International Entertainment plans July reopening of New Coast Hotel Manila

Under a Pagcor provisional licence, the company is required to commit at least US$1bn to Manila casino and hotel operations.

Hong Kong.- International Entertainment Corp has announced plans for a reopening event for the New Coast Hotel Manila in July. The firm took over casino operations at the establishment in May 2024 and has since refurbished the complex, including the casino floor and several hotel rooms.

Under its Philippine Amusement and Gaming Corp (Pagcor) provisional licence, it is required to commit an investment of no less than US$1bn to Manila casino and hotel operations. It said: “With further facility upgrades scheduled for completion, the group anticipates a grand reopening of the hotel in July 2026. These enhancements are designed to elevate the overall guest experience, thereby driving higher occupancy rates and fostering sustained revenue growth across both gaming and hospitality segments in the long term.”

The update was published in interim results. For the six months ending December 31, the company reported revenue of HKD458.9m (US$58.9m), up 71.5 per cent year-on-year. Gaming revenue accounted for HKD442.5m (US$56.7m) of the total, rising 84.4 per cent compared with HKD240.0m (US$30.8m) a year earlier.

Revenue from hotel operations totalled HKD16.5m (US$2.1m), a 40.4 per cent decrease from HKD27.6m (US$3.5m) in the same period last year. The group attributed the drop to the temporary closure of selected hotel rooms for renovation. The company’s loss attributable to owners during the half-year fell to HKD85.8m (US$11.0m) from HKD95.0m (US$12.2m) in 2024.

International Entertainment said its subsidiary, New Coast Leisure Inc, will pay a contractor PHP1.47bn (US$25.6m) for New Coast Hotel Manila’s phase one renovation and construction works.

Shareholders will today voted on an agreement with DigiPlus Interactive Corp, which will subscribe to up to HKD1.6bn (US$205.1m) in convertible notes, with a five-year term and 3 per cent annual interest. The notes, upon full conversion, would grant DigiPlus a 53.89 per cent stake in the company on an enlarged share capital.

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Under a Pagcor provisional licence, the company is required to commit at least US$1bn to Manila casino and hotel operations. Hong Kong.- International Entertainment Corp has announced plans for a reopening event for the New Coast Hotel Manila in July. The firm took over casino operations at the establishment in May 2024 and has since…