International Entertainment Corporation (IEC) has approved another major investment in its Manila gaming and hospitality project, signing a new construction agreement worth PHP566.95 million (US$9.23 million) for additional upgrades at New Coast Hotel Manila and LaVie Resort & Casino Manila.

The latest contract continues a broader redevelopment effort that has already seen the company commit more than PHP3 billion to the property over the past 15 months. The works are part of IEC’s long-term plan to transform the complex into a large-scale integrated resort under a provisional gaming license granted by the Philippine Amusement and Gaming Corporation (PAGCOR).

The agreement was signed on May 28, 2026, between IEC subsidiary New Coast Leisure Inc. (NCLI) and local contractor Kimberland Construction Inc., according to filings submitted to the Hong Kong Stock Exchange.

New Construction Phase Targets Hotel and Casino Upgrades

Under the new contract, Kimberland Construction will carry out a range of improvements across the property. Planned works include façade lighting installations, an LED screen for the Pedro Gil canopy, replacement of exterior window glass, landscaping upgrades, and extensive renovations to guest rooms and common areas.

The project will also cover upgrades to air-conditioning systems, plumbing, electrical infrastructure, fire protection systems, ceilings, flooring, walls, cabinets, chandeliers, and other hotel facilities. The company expects the work to be completed before the end of 2026.

IEC said the improvements are intended to modernize aging infrastructure while supporting the operation of the casino and enhancing the overall guest experience.

In explaining the rationale behind the project, the company stated: “The Group has planned to carry out a series of renovation work at the hotel with a view to maintaining the hotel in good service and condition, and upgrading infrastructures and facilities of the hotel to complement the operation of the casino.”

The company added: “As part of the planned renovation at the hotel and the casino, the new construction works will continue to improve the appearance and condition of hotel facilities, modernize outdated amenities, enhance overall quality of the hotel and elevate customers’ experiences at the Hotel.”

Investment Program Surpasses PHP3 Billion

The newly announced contract follows two previous construction phases awarded to the same contractor.

The first agreement, signed in February 2025, carried a contract value of PHP1.47 billion. A second phase followed in May 2025 with a value of PHP1.05 billion. Together with the latest PHP566.95 million project, total commitments awarded to Kimberland Construction since February 2025 have reached approximately PHP3.09 billion.

IEC said previous renovation works have already expanded gaming capacity at the property. Earlier disclosures indicated that gaming table capacity could increase from around 80 tables to more than 110, while slot machine capacity could grow from roughly 500 units to more than 920.

The company noted that earlier refurbishment efforts created additional casino space and improved the property’s overall appeal.

“The series of renovation work created additional gaming space within the casino, enabling the accommodation of more gaming tables as well as additional slot machines,” IEC explained, as reported by Asia Gaming Brief.

“The refurbishment has enhanced the overall appearance, environment and facilities of the casino, thereby making it more appealing to customers and adding further attractions to improve their experience. The new construction works will further enhance and upgrade the hotel and will improve the future revenue of the casino and the hotel.”

Broader Redevelopment and Ownership Changes Continue

The New Coast Hotel Manila property, located in Malate near Manila Bay, previously housed a PAGCOR-operated casino before IEC assumed full control in 2024. The casino now operates under the LaVie Resort & Casino Manila branding.

Under the terms of its provisional gaming license issued in 2023, IEC committed to investing between US$1 billion and US$1.2 billion into the redevelopment of the property as an integrated resort destination.

The company previously indicated plans for a grand reopening of the property in July as redevelopment efforts continue.

At the same time, ownership changes are underway. IEC entered into a HK$1.6 billion (US$204 million) convertible note agreement with Philippine gaming company DigiPlus Interactive Corp. The first tranche of the transaction was completed earlier this year, while a second tranche remains pending.

If fully converted, DigiPlus would acquire a 53.89% stake in IEC. The transaction is expected to strengthen IEC’s financial position while providing DigiPlus with a significant land-based gaming asset to complement its online gaming operations.

DigiPlus has also been linked to a possible acquisition of the nearby Diamond Hotel Philippines, a move that could further expand its presence along Manila Bay.