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Manila Bulletin devider Business devider The Stock Market devider DigiPlus completes ₱12-billion investment for control of New Coast Hotel Manila

DigiPlus completes ₱12-billion investment for control of New Coast Hotel Manila

Published Jun 4, 2026 02:50 pm
Dominant online gaming firm DigiPlus Interactive Corp. has fully paid for its ₱12 billion (HK$1.6 billion) subscription of convertible notes in International Entertainment Corp., positioning itself to take the controlling stake in the New Coast Hotel Manila.
Hong Kong-listed IEC announced that DigiPlus settled the second tranche of ₱6 billion (HK$800 million) on June 2, 2026, after satisfying all conditions precedent outlined in their subscription agreement. The final payment follows an initial ₱6 billion tranche completed last March, though DigiPlus has yet to convert those initial notes into equity.
The transaction, which originated from a subscription agreement signed on Nov. 17, 2025, represents a significant bridge between digital and brick-and-mortar gaming operations. Through its subsidiaries, IEC owns and operates the New Coast Hotel Manila, a five-star integrated hotel and casino complex operating under a license from the Philippine Amusement and Gaming Corp.
Full conversion of the five-year notes will give DigiPlus a 53.89 percent majority stake in IEC. The equity restructuring will reduce Excite Opportunity Fund’s holdings to 8.76 percent from 18.99 percent, and lower Eriska Investment Fund’s stake to 4.44 percent from 9.63 percent. Public shareholding will be diluted to 32.91 percent from 71.38 percent.
DigiPlus is pursuing an omnichannel strategy to unify its online market leadership with a physical presence. The company stated that the acquisition will strengthen its entertainment ecosystem by adding an offline platform that connects with its digital network, thereby driving brand activation, player engagement, and customer experience across both physical and digital touchpoints.
The convertible notes carry a three percent annual interest rate. If DigiPlus opts out of conversion, the notes are redeemable at 108 percent of their principal amount upon maturity at the end of the five-year term.
Located along Roxas Boulevard in Malate, Manila, the property rebranded from the New World Hotel Manila to New Coast Hotel Manila in 2020.
The complex is currently undergoing a $1 billion renovation, with its casino facilities recently completed in January 2026, and the modernization of its 203 guest rooms and amenities scheduled for completion by the third quarter of 2026. The property operates 96 gaming tables and 495 slot machines.
The potential acquisition allows DigiPlus to optimize its group structure by combining IEC’s expertise in hospitality and gaming management with its own leadership in digital entertainment and technology.
DigiPlus Chairman Eusebio Tanco said the transaction expands the company's ecosystem by bridging digital innovation with real-world experiences to create a new era of entertainment that is engaging, responsible, and globally competitive.

Related Tags

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