Hong Kong-listed gaming investor International Entertainment Corporation (IEC) has completed the acquisition of English League One football club Wigan Athletic.
The deal sees IEC acquire the entire share capital in Wigan Athletic Holdings Limited – the majority shareholder of Wigan Athletic AFC Limited – as well as the direct shareholding of the trustees of the Whelan Family Bare Trust.
Although few details were given in a notice confirming the acquisition late Wednesday, the company previously stated that although it is “principally engaged in hotel operations and leasing of properties for casino and ancillary leisure and entertainment operations … it has continued to review the existing principal businesses of the group and look for potential business opportunities in order to diversify the group’s business.”
It added that the acquisition represents a good opportunity to diversify the income stream of the company and broaden its revenue base.
IEC currently leases a casino-hotel in Manila as well as office space to Philippines gaming regulator Pagcor. It previously owned a 40% stake in Arc of Triumph Development Company, operator of casino resort L’Arc Macau, but sold its interest in 2010.
The company earlier this year signed a collaboration agreement with The Stars Group to operate land-based live events and poker rooms under the branding of PokerStars in Macau, Japan, South Korea, Vietnam, Singapore, Malaysia and Cambodia as well as acquiring Rational Live Events Macau Limited – described by previous owner PokerStars as one of its “data controllers” responsible for the capture, storage and use of the personal information of players taking part in local events including those formerly held at the PokerStars LIVE Macau poker room at City of Dreams.