The milestone marks a significant step in IEC’s long-term vision to transform the New Coast precinct into a full-scale integrated resort, now rebranded as Lavie Resort & Casino.

Expanded Gaming Floor Signals Operational Momentum

IEC’s renovation forms part of a broader US$1.0 billion to US$1.2 billion investment commitment aimed at repositioning the property as a premier gaming and hospitality destination in the Philippine capital.

After previously leasing the casino space to the Philippine Amusement and Gaming Corporation (PAGCOR), IEC assumed full operational control in 2023 upon securing a provisional casino license from the regulator. Comprehensive redevelopment works began early last year.

The company announced that ground floor upgrades were finalized in January 2026, expanding gaming capacity significantly. The number of gaming tables increased from 99 to 116, while slot machines and electronic gaming machines rose from 517 to 664 units by the end of the month.

IEC described the expansion as a key operational achievement, strengthening the property’s ability to compete in Manila’s dynamic land-based gaming market.

Strong Gaming Growth Offsets Hotel Disruption

Despite temporary disruption to hotel operations during renovation works, the group reported robust gaming performance in its 1H26 financial results.

Group-wide revenue surged 71.5% year-on-year to HK$458.9 million, driven primarily by an 84.4% increase in gaming revenue to HK$442.5 million. Growth was attributed to improved land-based casino performance and higher commission income from providing gaming platforms to other authorized operators.

Hotel revenue declined 40.4% to HK$16.5 million due to the closure of significant areas during refurbishment. However, IEC emphasized that the ongoing upgrades are designed to modernize infrastructure, elevate service standards, and align the hospitality offering with the casino’s evolving operations.

Group losses for the six months ended 31 December 2025 narrowed by 9.7% to HK$85.8 million, reflecting improving operational fundamentals.

With additional facility enhancements on track for completion, IEC expects the July 2026 grand reopening to mark a new chapter for Lavie Resort & Casino, positioning the property for higher occupancy rates, enhanced guest experience, and sustainable long-term growth in the Philippines’ competitive integrated resort landscape.