IEC Targets Philippines Online Gaming Expansion

International Entertainment Corp (IEC), listed in Hong Kong, is moving forward with plans to enter the Philippines’ online gaming sector and has already identified a potential acquisition target. The development follows feasibility work carried out by its subsidiary, New Coast Leisure, Inc, after securing an Electronic Games Operator licence from PAGCOR in February 2025.

Progress on Digital Expansion
In a recent filing, IEC confirmed it has been actively exploring online gaming investment opportunities and has pinpointed a specific prospect currently under review.

To support this process, the company has appointed a Philippine-based legal adviser to assess regulatory compliance for any future operations. In parallel, an international audit firm has been engaged to evaluate internal controls, particularly those related to anti-money laundering and broader compliance standards.

The legal review is ongoing, while the internal control assessment has already begun, focusing on policies and procedures tied to financial oversight and risk management. IEC also noted plans to conduct further independent checks to ensure these systems remain effective.

Land-Based Assets Remain Core
IEC’s primary asset is its Manila-based LaVie Resort & Casino, which includes the New Coast Hotel Manila. After receiving a provisional licence from PAGCOR in 2023, the company took over operations of the previously state-run casino in May 2024.

The property is currently undergoing a major redevelopment, with a large-scale investment aimed at transforming it into an integrated resort. Completion of the project is expected toward the end of the year.

The push into online gaming is seen as an extension of IEC’s broader strategy in the Philippines, combining physical infrastructure with digital growth opportunities.

DigiPlus Involvement
The timing of the expansion aligns with DigiPlus Interactive Corp’s move to acquire a controlling stake in IEC. Through a series of subscription notes, DigiPlus is positioned to hold a majority share if fully converted, strengthening its influence within the group.

This potential ownership shift could support IEC’s financial position while also linking its land-based operations with DigiPlus’ established digital ecosystem.

Next Steps
IEC’s latest update indicates a measured approach to entering the online gaming market. With a target already identified and due diligence in progress, the company appears to be aligning regulatory, operational and strategic elements before proceeding further.

As redevelopment continues at LaVie Resort & Casino, IEC’s strategy is increasingly focused on building a presence across both land-based and online gaming segments in the Philippine market.