Hong Kong-listed gaming investor International Entertainment Corp (IEC) says its Philippines subsidiary, Marina Square Properties, Inc, is in the process of preparing an application to PAGCOR to develop a casino and integrated resort at its Manila hotel premises, New Coast Hotel Manila.
The PAGCOR application looms as the key step in the company’s IR plans after revealing on Thursday that it has now obtained a Letter of No Objection and a City Council Resolution from the City of Manila 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.
IEC already leases space at New Coast Hotel Manila, formerly known as New World Manila Bay Hotel, to PAGCOR for gaming operations.
As Inside Asian Gaming reported earlier this month, IEC wants 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.”
The company recently completed the sale of Wigan Athletic Football Club, which it acquired in November 2018. It also owns the rights to operate live poker events across most of Asia under the PokerStars brand.
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