Asian gaming investor International Entertainment Corp (IEC) has reached an agreement with Malaysian gaming equipment distributor RGB that will see the company acquire 382 slot machines for use in its Manila casino.
According to details filed with the Hong Kong Stock Exchange on Friday, the slot machines will come at a total cost of US$5.7 million and will include related licenses and controllers.
They are planned to be installed at the company’s Manila hotel premises, New Coast Hotel Manila, where IEC leases its casino space to Philippines gaming regulator PAGCOR.
In announcing the purchase of the slot machines, described as being of various models, IEC said, “The Hotel Premises leased out by the Group is equipped with entertainment equipment including slot machines. Some of them have been installed for many years.
“In order to enhance the attraction of the entertainment equipment in the Hotel Premises, some of the games in the slot machines may require upgrades while some of the slot machines may have to be replaced. In addition, due to the global relaxation on the COVID-19 travel restrictions, the tourism industry in the Philippines has started to rebound and the Group is prepared to expand its slot machines in the Hotel Premises to attract and cater for a greater number of patrons as well as to improve the income of the Group from the gaming business.”
Delivery, the company added, is expected in two tranches with the first batch of machines to arrive in four to eight weeks and the second, being sourced from Sydney, Australia, in 12 to 18 weeks.
IEC recently confirmed it is in talks with PAGCOR over the possible development of an integrated resort in Manila, pending the identification of a suitable location. It was previously granted a provisional casino license in September 2020 for the extension and upgrading of facilities at New Coast Hotel.
Aside from its hotel and casino operations, IEC also holds the rights to run PokerStars branded live poker events across most of Asia.