Hong Kong-listed gaming investor International Entertainment Corp (IEC) has revealed that its Philippines subsidiary, Marina Square Properties, Inc, intends to apply for a provisional license from gaming regulator PAGCOR to develop an integrated resort in Manila.
In a Wednesday filing, IEC said it plans to “expand and upgrade the upgrade the current hotel premises, facilities and services by the establishment and operation of a casino and the development of an integrated resort in the City of Manila, Philippines.”
Although no specific premises was named, Marina Square Properties Inc’s primary asset is the New Coast Hotel Manila, formerly known as New World Manila Bay Hotel, where the company leases space to PAGCOR for gaming operations.
According to IEC’s filing, Marina Square Properties has this week submitted a written request to the City of Manila for its approval to issue a Letter of No Objection and a City Council Resolution stating it does not object to such a development. The Letter of No Objection and City Council Resolution is a requirement for PAGCOR to issue a provisional license.
News of the company’s ambitious integrated resort plan comes just two weeks after IEC completed the sale of Wigan Athletic Football Club, which it acquired in November 2018. IEC also owns the rights to operate live poker events across most of Asia under the PokerStars brand.