Published
Industry

International Entertainment to postpone its partnership with PAGCOR

International Entertainment has stated it will be postponing its accord, centred around the management of an existing casino and the development of an integrated resort in Manila, with the Philippine Amusement and Gaming Corp (PAGCOR) for the time being.

philippines

The reason behind the delay is the ongoing enhanced quarantine measures in the capital area, which is set to last until 20 August, as well as the new surges of Covid-19 cases in the country, reports Asia Gaming Brief. International Entertainment says the execution of the cooperation agreement is to be postponed until the release of the restrictions.

According to the agreement, Marina Square Properties, a subsidiary of International Entertainment, and PAGCOR would jointly operate New Coast Hotel Manila, with the regulator taking PHP100,000 ($1,980) per month and 40% of net gaming revenue. The casino would have a 15-year gaming licence.

The partnership would reportedly allow MSPI to gain experience in gaming operations prior to opening a new facility as an expansion of the company’s operations. The property would have 250 gaming tables, 100 junket tables, 1,600 slot machines and 800 five-star luxury hotel rooms.

Plans to build an IR (integrated resort) in Manila were first announced in 2020, when the group unveiled its plans to “expand and upgrade the current hotel premises, facilities, and services by the establishment and operation of a casino; and the development of an integrated resort in the City of Manila, Philippines.”

Initially, the deadline to sign the agreement was set for February 2022, and the development plan for the IR should be submitted to PAGCOR 120 days after the signing. However, the postponement of the accord could mean delays to the whole schedule.

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...