IEC begins casino operations in the Philippines

IEC begins casino operations in the Philippines

Full operations will begin tomorrow.

The Philippines.- International Entertainment Corporation (IEC) has commenced limited operations at its new casino in the Philippines, with full operations set to begin tomorrow (May 11). The provisional licence was granted on September 27, 2023, by the Philippine Amusement and Gaming Corporation (PAGCOR).

IEC noted that it had created an anti-money laundering committee to oversee its Money Laundering and Terrorist Financing Preventive Program (MLPP) aligned with PAGCOR guidelines. A consultant has confirmed the suitability of internal control procedures.

IEC has announced that it will pay a pro-rated monthly minimum guaranteed share of PHP60m (US$1m) for May, subject to adjustments based on licence fees. 

See also: International Entertainment posts loss of US$4.6m for H2

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International Entertainment Corp.