International Entertainment Corporation has announced its acquisition of the Manila casino formerly owned by PAGCOR. The establishment, formerly known as the branch of Casino Filipino New Coast (Malate) in the Philippine capital, has now been taken over by the Hong Kong-listed International Entertainment Corporation as part of PAGCOR's privatization initiative.
Limited operations at the casino commenced on May 9, with the group set to officially assume full control of all casino operations starting May 11, becoming a licensed operator. International Entertainment Corporation has already implemented procedures and internal controls to oversee permitted gaming activities.
The organization initiated financial adjustments in October 2023 to facilitate the acquisition of the casino and its transition into new management.
