International Entertainment Corporation (IEC), a Hong Kong-listed firm, has revealed plans to move into the Philippines’ online gaming market, signaling a shift beyond its established land-based casino operations in Manila. The company confirmed it is currently in discussions with a potential operator it may invest in, although negotiations have yet to produce a formal agreement.

IEC stated in a recent filing cited by Inside Asian Gaming that its subsidiary, New Coast Leisure Inc. (NCLI), obtained an Electronic (e-Casino) Games Operator license from the Philippine Amusement and Gaming Corporation (PAGCOR) in February 2025. This approval allows the company to run electronic gaming operations within the country.

Since receiving the license, the group has carried out feasibility studies and assessed various opportunities tied to the online gaming segment. These efforts led to the identification of a possible investment target, and discussions with that operator are now underway. However, IEC clarified that no binding memorandum of understanding or agreement has been signed at this stage.

Alongside these talks, the company has taken steps to ensure that any potential venture aligns with regulatory requirements. It has appointed a Philippine legal adviser to evaluate whether the planned operations meet all relevant laws. In parallel, an international audit firm has been tasked with examining internal controls, including policies related to anti-money laundering and the prevention of serious crimes.

IEC explained the ongoing process, stating: “The Philippine legal adviser is in the course of preparing its legal opinion in respect of the compliance of the online gaming operations with all applicable laws, while the internal control adviser has started reviewing the internal controls, policies and procedures (including those on anti-money laundering and prevention of serious crimes) specific to the operations of the online gaming business.”

The company added: “The Group will arrange for an independent review and assessment of the internal controls, policies and procedures to ensure that the internal control measures implemented in respect of the online gaming operations are adequate and effective.”

Compliance Review and Regulatory Considerations

IEC emphasized that its planned expansion into online gaming depends heavily on meeting legal and regulatory standards both in the Philippines and under Hong Kong listing rules. The company noted that failure to comply with applicable regulations could trigger consequences, including possible suspension of trading in its shares.

Both the legal review and the audit of internal controls remain ongoing, and the outcome of these assessments will play a key role in determining whether IEC proceeds with its online gaming initiative.

Casino Redevelopment and Strategic Backing

The company’s primary asset remains the New Coast Hotel Manila, which houses its casino operations. IEC took full control of the property’s gaming operations in May 2024 after previously receiving a provisional license from PAGCOR in 2023. The venue, now rebranded as LaVie Resort & Casino, is undergoing a large-scale redevelopment valued at around $1 billion.

Renovation work is progressing, with completion expected toward the end of 2026. Some earlier reports indicate that significant upgrades have already been finalized in early 2026, with a target reopening set for mid-year.

The timing of IEC’s online gaming ambitions coincides with a major ownership shift. DigiPlus Interactive Corp, a prominent player in the Philippines’ digital gaming space, is in the process of acquiring a controlling stake in IEC through convertible notes. The first tranche of these subscription notes has already been issued, while the second is expected soon. If fully converted, DigiPlus would hold a 53.89 percent share in IEC.

IEC views this partnership as a way to strengthen its financial position and liquidity. At the same time, DigiPlus aims to expand its broader entertainment network by linking its online operations with a physical resort platform.