Hong Kong-listed International Entertainment Corp (IEC) is preparing for the July 2026 grand reopening of New Coast Hotel Manila, following the completion of a major casino expansion.

But the bigger development lies beyond the reopening.

The renovation works are part of IEC’s broader commitment to invest between US$1 billion and US$1.2 billion to transform the New Coast precinct into a full integrated resort — recently renamed Lavie Resort & Casino.

This is no longer a property refresh.

It is a long-term capital-intensive repositioning.

Phase One: Immediate Capacity Expansion

IEC disclosed:

“This project successfully expanded the gaming space, increasing the number of gaming tables from 99 to 116 tables, as well as increasing the number of slot machines and electronic gaming machines from 517 to 664 machines by the end of January 2026.”

That equates to:

• +17% increase in gaming tables

• +28% increase in machines

For a mid-scale operator, this materially increases theoretical revenue capacity.

Slot and electronic machine expansion is particularly significant, as electronic gaming typically delivers:

• Higher margin stability

• Lower volatility compared to VIP tables

• Stronger mass and premium mass revenue consistency

Phase Two: Hospitality & Ecosystem Upgrade

IEC further stated:

“With further facility upgrades scheduled for completion, the Group anticipates a grand reopening of the Hotel in July 2026. These enhancements are designed to elevate the overall guest experience, thereby driving higher occupancy rates and fostering sustainable long-term growth.”

The strategy is clear:

Gaming expansion + Hospitality upgrade

Integrated cross-spend ecosystem

In IR economics, hotel occupancy is not secondary — it drives gaming visitation, F&B spend, retail flow and brand positioning.

The Bigger Picture: US$1–1.2 Billion Transformation

The Lavie Resort & Casino plan introduces a completely different scale of ambition.

A US$1 billion-plus commitment signals:

• Long-term belief in Manila’s gaming growth

• Intent to compete more directly with Entertainment City

• Confidence in Philippines regulatory stability

• Strategic shift from boutique positioning toward IR ecosystem model

In comparison, major Manila IR operators include:

• Bloomberry Resorts Corp

• Melco Resorts & Entertainment

• Tiger Resort Leisure and Entertainment Inc

IEC’s capital commitment suggests Lavie aims to elevate into that competitive conversation over time.

Revenue & Margin Sensitivity

With increased capacity and phased IR development, revenue drivers will include:

1. Table utilization growth

2. EGM occupancy stability

3. Premium mass segment capture

4. Cross-property spend integration

5. Hotel occupancy uplift

However, ramp-up curves for large IR transformations typically require:

• 2–4 quarters for stabilization

• 2–3 years for full capital return normalization

The Lavie project is therefore a medium- to long-term earnings bet.

Final Assessment

The July 2026 reopening is just the opening act.

The Lavie Resort & Casino transformation signals IEC’s intention to move from mid-tier operator to integrated resort contender.

This is no longer a defensive refresh.

It is a forward-looking expansion bet on Manila’s gaming future.

The next 12–24 months will determine whether Lavie evolves into a meaningful new IR pillar — or remains an ambitious rebuild.