In a big move for the entertainment world, International Entertainment Corporation has officially taken control of the Casino Filipino New Coast branch in Manila. This casino used to be owned by PAGCOR but has now shifted to the hands of this Hong Kong-based company as part of PAGCOR’s plan to privatize its assets.

The ownership change was completed through a handover process between PAGCOR and International Entertainment Corporation's subsidiary, Marina Square Properties, Inc. (MSPI). They began running the casino in phases starting from May 9th, and by May 11th, the International Entertainment Corporation will be fully in charge, operating under a provisional license

To ensure they follow all the rules and promote responsible gambling, the company has put strict internal controls in place. They've also set up a comprehensive program to prevent money laundering and terrorist financing, making sure they abide by the law.

As part of their agreement with PAGCOR, the casino operator has to pay a monthly share to PAGCOR, regardless of how well they do. Starting from May 9th, 2024, they'll be paying a minimum of PHP 60 million ($1 million) per month, unless their earnings exceed this amount.

This change signals a new era for the Casino Filipino New Coast branch, promising an exciting new direction in gaming and entertainment under the leadership of International Entertainment Corporation.