Chairman and CEO Ho Wong Meng described the launch of junket operations as a pivotal milestone that diversifies the company's income streams and sustains revenue during the ongoing renovation of its casino and hotel facilities.
He said this strategic move will allow IEC to leverage the robust demand for premium gaming in Manila while positioning the group for long-term profitability once the redevelopment is completed.
The company is investing up to US$1.2bn in refurbishing and expanding the property, which will feature a larger gaming floor with 110 tables and 920 slot machines upon completion.
In the fiscal year ended 30 June 2025, IEC reported a net loss of HK$282m (US$36m) due to temporary capacity reductions and a one-time write-off of HK$109.9m in leasehold improvements. However, its gaming revenues surged 146% to HK$509.9m, reflecting the strong performance of the casino segment and the early impact of junket activities.
Ho said the junket operations will complement IEC's own casino management by attracting high-value players through established partnerships, thereby maximising table utilisation and improving cash flow. "This diversification ensures sustained momentum in our gaming business as we transition toward full-scale integrated resort operations," he said.
The chairman added that with the new casino set for reopening in the coming financial year, IEC is well-positioned to capture a larger share of Manila's premium gaming market and drive value creation for shareholders.
IEC began operating its casino under a Philippine Amusement and Gaming Corporation (PAGCOR) licence in May 2024
