International Entertainment Corporation (INT'L ENT, Hong Kong stock code 01009) has issued a voluntary business update detailing preparations to enter the Philippine online gaming market through its subsidiary New Coast Leisure Inc. (NCLI).

In February 2025 NCLI secured an Electronic (e-Casino) Games Operator licence, authorising it to run electronic gaming activities in the Philippines. Since receiving the licence the group has conducted feasibility studies and is negotiating with a prospective third-party operator. No binding memorandum of understanding or definitive agreement has been signed to date.

To satisfy Hong Kong Stock Exchange Guidance Letter GL71-14, the company has engaged: 1) A Philippine legal adviser to deliver a formal opinion on full compliance of the planned operations with Philippine laws and regulations; and 2) An international audit firm to conduct an Internal Control Review covering anti-money-laundering protocols and other control measures.

The board emphasised that failure to meet all applicable laws in the Philippines or provisions of Hong Kong’s Gambling Ordinance could render the business unsuitable for listing under Rule 8.04 of the Listing Rules. Management therefore intends to finalise the legal opinion, complete the internal control assessment and secure any further independent reviews before commencing operations.

Further announcements will be made upon conclusion of negotiations, receipt of the legal opinion and completion of the internal control review. The company advises shareholders to exercise caution when dealing in its securities.