IEC Commits $1B to Expand Manila Casino Operations

Explore how IEC is transforming Manila casino operations at New Coast Hotel Manila with a $1.2B upgrade blending gaming, luxury, and world-class hospitality.

International Entertainment Corp (IEC), a Hong Kong-listed company, is investing up to $1.2 billion (around PHP 67.2 billion) to strengthen its foothold in Manila casino operations. IEC currently operates the New Coast Hotel Manila, a premier casino and hotel complex located in the heart of the Philippine capital. This major investment aims to expand its presence in the growing Philippine gaming industry, positioning New Coast Hotel Manila as a key player in the evolving entertainment and hospitality landscape.

This major upgrade includes building out more gaming floors, increasing the number of rooms, and adding entertainment amenities like a sports bar — a move aimed at attracting a younger, more diverse audience.

IEC currently holds a provisional casino license from the Philippine Amusement and Gaming Corporation (PAGCOR). Upon completing the upgrades, the company is expected to receive a regular license — part of PAGCOR’s shift from casino operator to regulator.

Plans show the gaming area will grow significantly. The number of gaming tables could increase from 80 to over 110, while the slot machines may jump from 500 to more than 920. Room capacity will rise from about 200 to 800, making the hotel better suited for both local and international guests.

IEC Executive Director Aurelio Tablante noted that the hotel’s location, close to Manila Port, Chinatown, and Koreatown, helps it appeal to well-off visitors from Asia. The company is also targeting partnerships with gaming groups from Japan, South Korea, and other parts of Southeast Asia.

Unlike other gaming firms expanding overseas, IEC says it’s focusing its efforts within the Philippines. It’s exploring funding through equity or debt to support this large-scale project.

This comes at a time of rapid growth for the country's gaming market. PAGCOR reports that the sector brought in over PHP 410 billion in 2024, up nearly 25% from the previous year. E-gaming revenue rose more than 300%, and digital gaming is now expected to match physical casinos in profitability soon.

IEC’s expansion reflects a growing trend of blending hospitality with gaming and lifestyle offerings. If successful, the project could boost Manila’s appeal as a tourist destination, support job creation, and help position the Philippines as a serious player in Asia’s gaming scene.

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