Hong Kong listed International Entertainment Corporation would like to convert an existing Manila hotel into an Integrated Resort casino.
The latest building is assumed to be the New Coast Manila Hotel, situated in the heart of the business district of Malate.
Dr Choi Chiu Fai Stanley, International Entertainment Corporation’s chairman, said: “Marina Square Properties, an indirect wholly-owned subsidiary of the company in the Philippines, intends to apply for a provisional license from the Philippine Amusement and Gaming Corporation (PAGCOR), the regulatory and licensing authority for gaming and gambling in the Philippines, in order to expand and upgrade the current hotel premises, facilities and services by the establishment and operation of a casino and the development of an integrated resort in the City of Manila, Philippines.
“MSPI is required to obtain a no objection letter and a resolution issued by the government of the City of Manila posing that there is no objection for MSPI’s intention on the development of the Integrated Resort in the City of Manila.
“The Board is pleased to announce that on 10 June 2020, MSPI has submitted a written request to the government of the City of Manila for its approval to issue the Letter of No Objection and the City Council Resolution to MSPI.”