Hong Kong-listed International Entertainment Corp (IEC) has reported a 50.6% year-on-year increase in group-wide revenue to HK$852.5 million (US$109 million) in the 12 months to 30 June 2026, primarily driven by the expansion of its gaming operations at Manila’s LaVie Resort & Casino.
Releasing its FY26 results on Friday, IEC said revenue from its gaming operations rose by 60.7% year-on-year to HK$819.4 million (US$105 million) following the completion of renovation works on the casino’s ground floor and the expansion of gaming tables, slot machines and electronic gaming machines in January.
However, hotel room revenue fell by 41.2% to HK$33.1 million (US$4.2 million) due to some rooms being closed for renovation.
As reported by Inside Asian Gaming, LaVie and its associated New Coast Hotel Manila are in the midst of a US$1 billion to US$1.2 billion transformation into a full-scale integrated resort – a requirement under an agreement with gaming regulator PAGCOR to receive a provisional casino license.
The company provided some new information on this transformation in Friday’s filing, explaining that the minimum US$1 billion commitment “includes capital investments for the acquisition of land for the expansion of the group’s integrated resort in Manila,” as well as for the construction of additional hotel rooms, the provision of other amenities and for ongoing upgrades, refurbishments and renovations to existing facilities at LaVie.
While IEC saw its loss for the period almost double year-on-year to HK$486.4 million (US$62.0 million), the company explained that this was primarily due to a non-cash loss arising from the change in fair value of HK$1.6 billion (US$205 million) in subscription notes it issued to DigiPlus Entertainment Corp earlier this year. DigiPlus has not yet converted those notes, which if converted would give it a controlling 53.89% stake in IEC.
Without the fair value loss, IEC’s 1H26 loss would have narrowed by 78.2%, it said. Gross profit for the period grew by 66.4% to HK$454.6 million (US$58.0 million).
In a separate announcement on Friday, IEC also confirmed that its subsidiary New Coast Leisure Inc (NCLI) expects to imminently launch its new online gaming business after receiving all necessary licenses from PAGCOR.
This follows a recent announcement that NCLI and DigiPlus subsidiary Total Gamezone Xtreme Inc (TGXI) were partnering to launch the online business with a view to expanding the group’s revenue base.
According to Friday’s filing, the online platform will offer electronic casino games, electronic bingo games, online poker games and specialty games although IEC said it will initially focus on electronic casino games and will not utilize any live dealer options. Specifically, it revealed that the cooperation between NCLI and TGXI “does not involve any online gaming services of Integrated Resorts that offer land-based casino games through online platforms at this moment” – suggesting it will be viewed as an entirely separate business to LaVie Resort & Casino.
Launch of the platform is to take place “in our about late August or September 2026,” it added.
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