Hong Kong-listed International Entertainment Corp (IEC) plans to target “affluent overseas visitors” once a US$1 billion investment into redeveloping its New Coast Manila hotel and casino is complete.
In an interview with local media outlet the Inquirer, IEC’s Executive Director and Hotel Operations Officer Aurelio Tablante also revealed that the redevelopment into an integrated resort-style offering will increase the hotel’s room inventory from 200 currently to 800.
The company was in 2023 issued a provisional casino license by regulator PAGCOR under the proviso that it invest between US$1 billion to US$1.2 billion into the property. IEC also took over full operations of the casino last year from PAGCOR as part of the plan.
Speaking with the Inquirer, Tablante said, “The property’s proximity to Manila Port, Chinatown and Koreatown gives it access to affluent overseas visitors and draws interest from Japanese tourists.
“To boost its appeal, the company is now planning to connect with gambling groups from Japan, South Korea and Southeast Asia to broaden its customer base.”
As previously reported by IAG, the redevelopment will include adding new gaming space on the ground floor of the casino and increasing the number of gaming tables from 80 to 110 and slot machines from 500 to more than 920.
A sports bar would also be added to appeal to a younger crowd.
Tablante explained that IEC would “hunt for more local investment options rather than expanding overseas” in order to complete the work.
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