Hong Kong-listed International Entertainment Corp (IEC), the owner of Manila’s LaVie Resort & Casino in Malate, has entered into a cooperation agreement with a subsidiary of Philippines online gaming giant DigiPlus Interactive Corp under which they will launch a new online gaming business linked to LaVie.
The non-exclusive agreement will see IEC utilize online gaming licenses held by IEC subsidiary New Coast Leisure Inc (NCLI) and the online gaming infrastructure, technology, aggregation services and operational expertise of DigiPlus’s Total Gamezone Xtreme Inc (TGXI). IEC said it sees participation in the sector as an opportunity to broaden the group’s revenue base, improve operational scalability and create new growth drivers for the Group.
According to information contained in a Hong Kong Stock Exchange filing, NCLI already holds all relevant licenses including an Electronic Games Operator licence and accreditations as a Gaming System Administrator and Game Content Provider.
IEC added that it has obtained legal advice confirming its new online gaming operation complies with local laws and commissioned Deloitte Advisory (Hong Kong) Limited as an internal control consultant who confirmed that no significant internal control deficiencies were found.
The launch of an online gaming business builds on the growing relationship between the two companies, with IEC having last week issued the second and final tranche of Subscription Notes in the amount of HK$800 million (US$102.5 million) to DigiPlus. The first tranche of HK$800 million (US$102.5 million) Subscription Notes was issued in early March.
Under the Subscription Agreement inked between the two companies in November, DigiPlus will upon full conversion of the notes assume a controlling 53.89% stake in IEC and its primary asset – LaVie Resort & Casino.
Detailing the reasons for launching an online gaming business in partnership with DigiPlus, IEC said, “In early 2025, PAGCOR implemented significant reforms, including a reduction of licensing fees from 55% to 30% for land-based operators and 25% for integrated resorts, as well as the introduction of new accreditation rules for third-party vendors to enhance industry integrity and promote regulated digital expansion.
“The Directors are of the view that the Online Gaming sector in the Philippines is undergoing rapid expansion, supported by favorable government policies, technological advancement and increasing market demand. Participation in this sector is expected to broaden the Group’s revenue base, improve operational scalability and create new growth drivers for the Group.
“The obtaining of the NCLI Online Gaming License in 2025 provides the Group with the necessary regulatory foundation to enter this market. Leveraging this licensing status, the cooperation enables NCLI and TGXI to jointly commence Online Gaming operations under and with the benefit of the NCLI Online Gaming License.
“This structure allows the Group to capitalise on TGXI’s established Online Gaming infrastructure, significantly reducing the time and resources required to build a platform from the ground up. Through the cooperation, the Group is positioned to enter the Online Gaming industry efficiently, compliantly, and competitively, thereby enhancing its strategic capabilities and delivering improved returns to Shareholders.”
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