This notable growth was primarily driven by a rise in land-based casino revenue and increased commission income resulting from provision of gaming platform to other authorised gaming operators for gaming business during the Period.
Meanwhile, the Group reported gross profit of approximately HK$245.0 million, representing a remarkable increase of 169.4% as compared with approximately HK$90.9 million in the six months ended 31 December 2024 (the "Previous Period"). Gross profit margin for the Period was approximately 53.4%, up 19.4 percentage points from approximately 34.0% for the Previous Period, mainly due to the increase in commission income with higher gross profit margin. The Group narrowed its loss by 9.7% to approximately HK$85.8 million during the Period (Previous Period: loss of approximately HK$95.0 million).
Future Outlook
The Group remains optimistic about the long-term prospects of the Philippine gaming and tourism industries, underpinned by its advantageous geographical position in Southeast Asia and growing popularity as a premier travel destination.
The Group commenced a renovation initiative in the previous financial year. An operational milestone was reached in January 2026 with the completion of renovation works on the casino's ground floor. 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. 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 sustained revenue growth across both gaming and hospitality segments in the long term.
Separately, the Group entered into a Subscription Agreement on 17 November 2025 with DigiPlus Interactive Corp., a leader in the Philippine casino and gaming sector as well as a Fortune Southeast Asia 500 company. Subject to approval at the extraordinary general meeting on 26 February 2026, the Group will issue up to HK$1.6 billion convertible notes with a maturity of five years and an interest rate of 3% per annum, which is expected to significantly bolster the Group's liquidity and long-term financial position.
Part of the net proceeds will be used to fund the Group's Investment Commitment, which currently includes capital investments for acquisition of land for the expansion of its integrated resort in Manila City and the construction of additional hotel rooms, for provision of other amenities of the integrated resort, and for ongoing upgrades, refurbishments and renovations to the facilities and infrastructures of both the hotel and the casino.
With the above initiatives in place, the Group is strategically positioned to navigate the evolving Philippine gaming and tourism landscape, leveraging its bolstered capital, expanded gaming capacity, and enhanced hotel facilities to capitalize on emerging business opportunities and create greater sustainable, long-term value for its shareholders.
The issuer is solely responsible for the content of this announcement.
About International Entertainment Corporation (HKEX: 1009)
International Entertainment Corporation is an investment holding company. The Company and its subsidiaries are principally involved in hotel operations, operating the gaming business under provisional licence, leasing of gaming venues at the hotel complex of the Group in Metro Manila in the Republic of the Philippines to a tenant for authorized gaming operation, provision of gaming platform to other authorised gaming operators for gaming business and live poker events in Macau.
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