Hong Kong’s International Entertainment Corp looking to move into Philippines igaming space
International Entertainment Corp (IEC), the Hong-Kong-listed company that owns Manila’s LaVie Resort & Casino, has reveals it wants to start an igaming business in the Philippines and is in negotiations with an online operator over investment or acquisition.
IEC said in a filing that it has been conducting various feasibility studies on the sector and exploring possible igaming investment opportunities since its subsidiary, New Coast Leisure, Inc (NCLI), was granted an Electronic (e-Casino) Games Operator license by regulator PAGCOR in February 2025.
The group has identified an igaming target and is in negotiations, although it stressed that no binding memorandum of understanding or agreement has been signed.
IEC said it has engaged a Philippine legal adviser and an internal control adviser, described as a reputable international audit firm.
“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,” IEC said.
“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.”
IEC was previously issued a provisional casino license by PAGCOR in 2023 and took over full operations of the former PAGCOR-operated casino at New Coast Hotel in May 2024 as part of a pledge to convert the property into a full-fledged integrated resort.
CiG’s sister brand Inside Asian Gaming reported last week that the US$1 billion renovation of the property, which was recently rebranded as LaVie Resort & Casino, is well underway and expected to be completed around the end of this year.
The timing of this latest move into the igaming space is notable given that DigiPlus Interactive Corp – a leader in the Philippines igaming space – is in the process of assuming a controlling stake in IEC.
The move is seen by IEC as an opportunity to boost its liquidity and financial position, while DigiPlus is looking to strengthen its entertainment ecosystem by adding a strategic land-based platform that connects with its digital network.
IEC recently issued DigiPlus a first tranche of Subscription Notes, with the second and final tranche due imminently. Assuming full conversion, DigiPlus will hold a 53.89% stake in IEC.
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The Backstory
Why a Manila e-casino pivot matters now
International Entertainment Corp is moving to blend its Manila bricks-and-mortar upgrade with a digital push at a moment when capital, regulation and competitive dynamics are converging. The Hong Kong-listed owner of LaVie Resort & Casino disclosed it has been conducting feasibility work and is now in talks to invest in or acquire a Philippines online gaming operator. That follows a February 2025 Electronic (e-casino) Games Operator license from regulator PAGCOR to subsidiary New Coast Leisure, providing a formal on-ramp to offer online products alongside the property’s tables and slots. The company says it has hired a Philippine legal adviser to vet compliance and an internal control adviser to test anti-money laundering and crime-prevention processes, with an independent review to follow. The sequence shows IEC trying to de-risk before dealmaking as policy frameworks tighten and investor scrutiny rises.
The timing underscores how the Philippines has become a testbed for hybrid casino models that stitch together land-based play with regulated online channels. Manila’s entrenched demand, domestic regulatory clarity and operator experience running electronic game formats give companies cover to invest in omnichannel offerings that can cross-promote, smooth cash flow and hedge against tourism swings. That approach is especially potent for a mid-market property in renovation, where online can extend reach beyond hotel keys while a refreshed resort can convert digital users to higher-value patrons on site.
From takeover to reinvention of a city property
IEC gained operating control of the former PAGCOR-run casino at New Coast Hotel in May 2024, part of a longer-term plan to transform the Bayside property into a full-fledged integrated resort. The company has rebranded the site as LaVie Resort & Casino and committed to a large-scale modernization. Inside Asian Gaming reported that a US$1 billion transformation of LaVie is targeted for completion by year-end, signaling a step-change in positioning from a legacy city casino to a lifestyle-led IR competing for higher-spend local and regional guests. IEC’s disclosure that it is preparing online business controls and compliance simultaneously suggests management wants the property reopening arc and the digital rollout to reinforce one another.
That sequencing has precedent across Asia’s gaming markets. Renovations with clear milestones can anchor marketing calendars, while pre-cleared e-casino permissions let operators build databases, test product and segment customers before a physical relaunch. For a property in a dense urban catchment, the ability to convert digital engagement into restaurant, entertainment and premium-mass play on site is a measurable upside, especially if the upgrade adds non-gaming amenities that broaden appeal to families and younger patrons.
Capital and control: DigiPlus changes the calculus
The other lever shifting IEC’s strategy is ownership. Philippine online leader DigiPlus Interactive has moved to take a controlling stake through subscription notes, with a second and final tranche due and full conversion implying a 53.89% holding. The deal gives IEC liquidity to underwrite renovation and online expansion. For DigiPlus, it adds an on-the-ground platform that can plug into its national digital footprint. IEC describes the tie-up as a way to connect land-based entertainment to a larger digital network, a playbook common in omnichannel retail that remains underexploited in Asia’s gaming sector.
The mechanics matter. Majority control lets DigiPlus impose product discipline and data integration that minority partnerships often struggle to deliver. If executed, the combined entity could push targeted offers from e-casino into LaVie’s hotel and gaming floors and run reciprocal campaigns that lift time-on-platform online. That feedback loop may also help justify the capex intensity of the property makeover while smoothing earnings volatility tied to tourist flows and seasonality.
Compliance first as regulators tighten oversight
IEC’s emphasis on legal opinions and independent reviews aligns with a regional shift toward stricter oversight. Operators are being asked to prove that online growth will not outpace controls on know-your-customer, payments and responsible play. PAGCOR’s licensing of e-casino operators has come with heightened expectations on anti-money laundering and systems audits. By front-loading legal and internal control work, IEC is signaling to Manila and investors that growth will be paired with guardrails, which could ease subsequent approvals for product launches, vendor integrations and marketing campaigns that blend on-property and online incentives.
Embedding compliance also positions the group to respond faster if regulators adjust rules on cross-border play, payment gateways or advertising. That agility could be decisive in a competitive field where digital engagement, live dealer formats and mobile-first experiences are table stakes and brand trust is a differentiator.
Hong Kong’s shifting policy backdrop looms in the background
IEC’s home market is redrawing its own gambling lines, offering a contrasting but relevant backdrop. Hong Kong officials are weighing an expansion of legal sports betting from soccer and horse racing into basketball to counter a persistent illegal market and address fiscal needs. The Financial Secretary’s team is studying the move, with estimates that illegal basketball betting alone may reach tens of billions of Hong Kong dollars annually. Coverage of the debate has detailed the scale and stakes, including reporting that Hong Kong considers legalizing online basketball betting to tackle a budget shortfall.
The Hong Kong Jockey Club, the city’s monopoly operator for legal sports betting, has endorsed a regulated model and said it would submit a plan, citing social harms from illegal wagering. The club’s position was laid out after the budget signal, with more detail in Hong Kong Jockey Club supports bid to legalize online basketball betting. The government later proposed a 50% duty on operators’ net basketball receipts, mirroring soccer’s tax burden, a framework described in Hong Kong proposes 50% betting duty on basketball wagers. Policy voices are also pushing to channel proceeds to public goals; a leading think tank argued that new basketball betting revenue should fund sports development, facilities and coaching, as outlined in a proposal to earmark funds for sports.
For IEC, a Hong Kong listing means investor sentiment is partly shaped by that policy narrative. Even though its operating pivot is in Manila, the city’s evolving stance on regulated betting, taxation and social safeguards informs how shareholders evaluate the durability of gaming-led business models. The Jockey Club is also broadening its own brand to fuse entertainment with sport, a cue for operators chasing younger audiences. Its tie-up with Simon Fuller’s XIX Entertainment to position the club as a global sports-entertainment platform, including performances and talent development, shows how content and venue strategy are converging, as reported in Hong Kong Jockey Club sets out stall as global sports entertainment brand.
What to watch next
In Manila, the near-term markers are clear: closing terms with an online partner or acquisition target, securing final compliance sign-offs, and hitting construction milestones at LaVie. The integration path with DigiPlus will be critical, from systems interoperability to unified customer identity and offers. On the regulatory front, any refinements to PAGCOR’s e-casino protocols or marketing rules will shape product cadence.
In Hong Kong, watch the Legislative Council debate on basketball betting, whether the 50% duty holds, and how any licensing conditions address harm minimization. If the city opens a new legal channel and tightens enforcement against illegal sites, that could set a regional tone for balancing revenue needs with social risk management. For IEC, delivering a synchronized physical relaunch and compliant online rollout would validate its omnichannel thesis and test whether digital-to-property flywheels can lift returns on a billion-dollar makeover.
