{"id":15212,"date":"2021-02-25T14:46:11","date_gmt":"2021-02-25T14:46:11","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15212"},"modified":"2026-04-23T21:32:07","modified_gmt":"2026-04-24T00:32:07","slug":"iec-reports-us11-7m-loss-for-h2-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/iec-reports-us11-7m-loss-for-h2-2020","title":{"rendered":"IEC reports US$11.7m loss for H2 2020"},"content":{"rendered":"\n<p>The company was impacted by a loss of revenue across its Philippines hotel and gaming segments.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- International Entertainment Corporation (IEC) has reported that revenue for the second half of 2020<strong> fell by <strong>77.8 per cent<\/strong><\/strong> compared to 2019.<\/p>\n\n\n\n<p>It reported a loss attributable to owners of <strong>HK$91.1m (US$11.7m)<\/strong> for the six months to 31 December 2020.<\/p>\n\n\n\n<p>With no events due to the Covid-19 pandemic, the company <strong>did not report any revenue from live poker<\/strong>, while revenue from hotel operations fell by <strong>61.5 per cent year-on-year<\/strong> to about HKD20.9m.<\/p>\n\n\n\n<p>The Hong Kong-based company said that despite the difficult operating environment, it &#8220;<strong>remains confident in the long-term prospects of the Philippines market<\/strong>.&#8221;<\/p>\n\n\n\n<p>IEC operates<strong> <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/iec-closer-to-new-manila-casino\" target=\"_blank\">New Coast Hotel Manila<\/a><\/em><\/strong>, where it leases casino and related gaming equipment to<strong> PAGCOR<\/strong>. <\/p>\n\n\n\n<p>Revenue derived from PAGCOR for the six months to December 31 was approximately HKD14.4m,<strong> a decline of 85.8 per cent <\/strong>year-on-year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company was impacted by a loss of revenue across its Philippines hotel and gaming segments.<\/p>\n","protected":false},"author":176,"featured_media":15215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"International Entertainment Corporation (IEC) reported a 77.8% revenue decline and HK$91.1m loss in H2 2020, primarily due to the COVID-19 pandemic impacting its Philippines hotel and gaming segments, including no live poker revenue and an 85.8% drop in PAGCOR-derived revenue. Despite these challenges, the Hong Kong-based company maintains confidence in the long-term prospects of the Philippines market.","focusai_entities":"International Entertainment Corporation (IEC), PAGCOR, New Coast Hotel Manila","focusai_location":"Philippines, Hong Kong, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Philippines Market Outlook","query":"What specific strategic initiatives is IEC implementing to capitalize on its stated long-term confidence in the Philippines market, particularly concerning diversification beyond traditional land-based gaming and hotel operations?"},{"label":"PAGCOR Revenue Impact","query":"How does the 85.8% decline in revenue derived from PAGCOR impact the broader revenue share model and financial stability of other operators leasing gaming equipment under similar arrangements in the Philippines?"}],"footnotes":""},"categories":[157,16333],"tags":[20632,23727,23907],"class_list":["post-15212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-iec","tag-international-entertainment-corp","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15212"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15212\/revisions"}],"predecessor-version":[{"id":15230,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15212\/revisions\/15230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15215"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}