Industry News

Hong Kong’s IEC acquires Wigan Athletic

Published

7 years ago

November 9, 2018

Niji Narayan

Photo Source: gettyimages.it

Reading Time: < 1 minute

Hong Kong-based gaming investment company International Entertainment Corporation (IEC) has acquired English football club Wigan Athletic. The club, which has played in the English Premier League, is currently playing in English League One.

As per the deal, IEC acquire the entire share capital in Wigan Athletic Holdings Limited from the majority shareholder of Wigan Athletic AFC Limited and from the trustees of the Whelan Family Bare Trust.

Although few details were given in a notice confirming the acquisition late Wednesday, the company previously stated that although it is “principally engaged in hotel operations and leasing of properties for casino and ancillary leisure and entertainment operations … it has continued to review the existing principal businesses of the group and look for potential business opportunities in order to diversify the group’s business.”

It added that the acquisition represents a good opportunity to diversify the income stream of the company and broaden its revenue base.

IEC currently leases a casino-hotel in Manila as well as office space to Philippines gaming regulator Pagcor. It previously owned a 40 per cent stake in Arc of Triumph Development Company, operator of casino resort L’Arc Macau, but sold its interest in 2010.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.