Asian hotel and leisure operator International Entertainment Corporation has reportedly informed investors that one of its subsidiaries is hoping to be given permission to bring an integrated casino resort to the Philippines capital of Manila.
According to a report from Inside Asian Gaming, the Hong Kong-listed firm used an official filing to detail that its Marina Square Properties Incorporated subordinate intends to ask the Philippine Amusement and Gaming Corporation (PAGCor) regulator for a provisional casino license that would allow it to premiere such a facility at an unnamed existing Manila location.
Inside Asian Gaming reported that International Entertainment Corporation is already responsible for the 288-room New Coast Hotel Manila, which was formerly known as the New World Manila Bay Hotel until undergoing a January name-change, where it leases space to PAGCor for a small gaming operation. The source detailed that the firm will now be required to obtain a ‘letter of no objection’ as well as permission from the government of Manila before it can properly apply for the provisional casino license.
The Wednesday filing (pdf)from International Entertainment Corporation stated that the firm intends to ‘expand and upgrade the current hotel premises, facilities and services by the establishment and operation of a casino and the development of an integrated resort’ in Manila.
International Entertainment Corporation’s filing read…
“The board is pleased to announce that on June 10, Marina Square Properties Incorporated submitted a written request to the government of the city of Manila for its approval to issue the letter of no objection and the city council resolution to Marina Square Properties Incorporated.”
Hong Kong-headquartered International Entertainment Corporation holds the Asian rights for a number of live poker events including those operated under the PokerStars brand from The Stars Group Incorporated and last month made approximately $22.14 million by offloading its controlling stake in English Championship football club Wigan Athletic.