IEC subsidiary signs contract for renovation of New Coast Hotel Manila
The construction works are expected to be completed by the end of the second quarter of 2025.
The Philippines.- International Entertainment Corporation (IEC) has announced that wholly-owned subsidiary New Coast Leisure (NCLI) has signed a PHP1.47bn (US$25.5m) contract with Kimberland Construction for the renovation of New Coast Hotel Manila. The works are scheduled to be completed by the end of the second quarter of 2025.
According to the company’s filing, the agreement covers the designing, demolishing, constructing, furnishing and retrofitting of walls, ceilings and floor finishes, fixture cabinets and curtains, aircons, electricity systems, plumbing systems and fire-protection systems. It said the aim is to modernise infrastructure and facilities at the hotel to complement the operation of the casino.
IEC began casino operations at the New Coast Hotel Manila property last May, under a provisional gaming licence granted by the Philippine Amusement and Gaming Corporation (PAGCOR) on September 27, 2023.
The company said: “The renovation work will create additional gaming space on the ground floor of the casino, as a result, the maximum number of gaming tables in the casino will increase from the current number of approximately 80 to over 110, and the maximum number of slot machines in the casino will increase from the current number of approximately 500 to over 920. The company is optimistic that the enlargement in gaming capacity of the casino will improve the future revenue of the casino.”
