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Manila Bulletin devider Business devider The Stock Market devider Online gaming giant DigiPlus makes ₱12-billion leap into traditional casino space

Online gaming giant DigiPlus makes ₱12-billion leap into traditional casino space

Published Nov 18, 2025 01:17 pm
DigiPlus Interactive Corp., the country’s leading online gaming firm, is venturing into brick-and-mortar integrated casino and resort development after acquiring the right to buy a majority stake in Hong Kong-listed International Entertainment Corp. (IEC), which owns New Coast Hotel Manila, for ₱12 billion.
In a disclosure to the Philippine Stock Exchange (PSE), DigiPlus said it has signed a convertible notes agreement, which carries the rights to acquire a controlling economic stake in IEC.
Through its subsidiaries, IEC owns and operates New Coast Hotel Manila, an integrated hotel and casino complex licensed by state-run regulator Philippine Amusement and Gaming Corp. (Pagcor).
“Upon conversion of the notes, the acquisition will strengthen DigiPlus’ omnipresent entertainment ecosystem by adding a strategic offline platform that seamlessly connects with its digital network, enhancing brand activation, player engagement, and customer experience across both physical and online touchpoints,” DigiPlus said.
The subscription to 1.6 billion convertible notes, amounting to 1.6 billion Hong Kong dollars, will be issued in two tranches. The first tranche, amounting to 800 million Hong Kong dollars, will be completed upon satisfaction of customary conditions.
The remainder will comprise the second tranche, which will follow within three months of the first completion, subject to mutually agreed terms between the parties.
DigiPlus has the option to convert the notes. Should DigiPlus exercise this option, it will hold approximately 53.89 percent of IEC’s issued capital stock, based on an agreed initial conversion price of one Hong Kong dollar per share.
The notes carry an interest rate of three percent per annum. If DigiPlus chooses not to convert, the notes will instead be redeemable at 108 percent at the end of their five-year maturity.
In a disclosure in Hong Kong, IEC said a conversion of more than a 30-percent stake will trigger a mandatory tender offer under Hong Kong’s Takeover Code, unless a whitewash waiver is granted by IEC shareholders.
If the waiver is not granted, DigiPlus has the option not to convert the notes into shares and instead have the notes redeemed after five years.
New Coast Hotel Manila is a five-star hotel located along Roxas Boulevard in Malate, Manila. Formerly known as New World Hotel Manila, it rebranded as New Coast Hotel Manila in 2020.
The hotel features luxurious rooms and suites with modern amenities, elegant dining options, and versatile event and meeting facilities. The hotel-casino complex currently offers 203 guest rooms and operates 96 gaming tables, 495 slot machines, and a range of other gaming amenities.
The complex is currently undergoing a $1-billion renovation, with the casino expected to be completed in January 2026 and the hotel by the third quarter of 2026.
The potential acquisition allows DigiPlus to optimize its group structure by combining IEC’s expertise in hospitality and gaming management with DigiPlus’ leadership in digital entertainment and technology.
“This move marks a defining step toward DigiPlus’ long-term goal to create the most innovative and enjoyable experiences through an entertainment ecosystem, powered by cutting-edge technology and localized products for different cultures,” said DigiPlus Chairman Eusebio Tanco.
He added, “Through this transaction, we are expanding our omnipresent ecosystem—bridging digital innovation with real-world experiences—to create a new era of entertainment that is engaging, responsible, and globally competitive.”
The transaction is subject to approval by IEC shareholders at an extraordinary general meeting (EGM) to be held after the convertible notes subscription agreement is executed, and to clearance from the Securities and Futures Commission of Hong Kong and the HKEX.
The conversion of the convertible notes is subject to the approval of antitrust watchdog Philippine Competition Commission (PCC), consistent with regulatory requirements.
This acquisition underscores DigiPlus’ commitment to delivering sustainable growth and long-term shareholder value through the convergence of technology, entertainment, and hospitality.

Related Tags

Digiplus Interactive Corporation Eusebio Tanco International Entertainment Corporation New Coast Hotel Manila
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