New Coast Leisure Inc, a Philippines-based subsidiary of Hong Kong-listed International Entertainment Corp (IEC), has signed a new hotel renovation and construction contract for major redevelopment works on its Manila integrated resort project – LaVie Resort & Casino and New Coast Hotel Manila.
The Php567 million (US$9.2 million) contract will see Kimberland Construction Inc undertake further upgrades to the complex, located in Malate around 20 minutes north of Entertainment City, including façade lighting, LED canopy screens, window replacements, landscaping, the renovation of guest rooms and common areas, and upgrades to air conditioning, plumbing, electrical and fire systems.
Work is expected to be complete by the end of this year.
The contract represents the next stage in IEC’s planned US$1 billion redevelopment and transformation of New Coast into a full-scale integrated resort, operating under the new LaVie branding. New Coast had previously been home to a PAGCOR-operated casino before IEC assumed full control in 2024.
Outlining the reasons for this latest development contract, IEC said, “The Group has planned to carry out a series of renovation work at the hotel with a view to maintaining the hotel in good service and condition, and upgrading infrastructures and facilities of the hotel to complement the operation of the casino.
“As part of the planned renovation at the hotel and the casino, the new construction works will continue to improve the appearance and condition of hotel facilities, modernize outdated amenities, enhance overall quality of the hotel and elevate customers’ experiences at the Hotel. The series of renovation work created additional gaming space within the casino, enabling the accommodation of more gaming tables as well as additional slot machines.
“The refurbishment has enhanced the overall appearance, environment and facilities of the casino, thereby making it more appealing to customers and adding further attractions to improve their experience. The new construction works will further enhance and upgrade the hotel and will improve the future revenue of the casino and the hotel.”
As recently reported by Inside Asian Gaming, IEC is in the process of selling a controlling stake in the company to Philippines gaming giant DigiPlus Interactive Corp via a HK$1.6 billion (US$205 million) subscription agreement. The company recently issued DigiPlus the first tranche of Subscription Notes, with the second and final tranche due imminently. Assuming full conversion, DigiPlus will hold a 53.89% stake in IEC.
The move is seen by IEC as an opportunity to boost its liquidity and financial position, while DigiPlus is looking to strengthen its entertainment ecosystem by adding a strategic land-based platform that connects with its digital network.
IEC is in the process of transforming LaVie into a fully-fledged integrated resort as per a provisional license issued by PAGCOR in 2023.
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