IEC Strengthens Board with Playtech Veteran Mattingley Appointment
International Entertainment Corporation appointed former Playtech chairman Brian Mattingley as an independent non-executive director on 23 March 2026, replacing Cheng Hong Wai, who stepped down to focus on other roles. He is ranked among the main board committees for a three-year term worth $80, 000 annually, meanwhile, IEC refreshes its board after disclosing strong sales growth but posting losses still.
Mattingley joins IEC’s audit, nomination, and remuneration committees, taking over responsibilities previously held by Cheng Hong Wai. The company said there were no disagreements linked to Cheng’s exit, which was framed as a step back to focus on other commitments.
His background is tied to listed gaming businesses. He chaired Playtech until 2025 and earlier led Evoke as CEO and later executive chairman. That track record points to experience in regulated markets and board-level decision-making.
The reshuffle also shifts internal control. Danica Ramos Lumawig now leads the Audit Committee, while Mattingley sits across all key committees. This puts him close to financial oversight, board structure, and executive pay decisions at a time when discipline matters.
IEC’s latest results show the challenge clearly. Gaming revenue reached HK$442.5 million in 2H25, up 84.4% year-on-year, but the company still reported a net loss of HK$85.8 million. Growth is strong, but it has not yet translated into profit.
DigiPlus has been building a position in IEC, signalling interest from online operators looking at land-based expansion. For operators and suppliers, this points to closer links between digital and physical assets. Affiliates and players are less directly affected, but any shift in strategy can change product focus and market direction.
TGJ Take
IEC is trying to fix a margin problem, not chase new growth. Bringing in a board member with a background in listed gaming companies points to tighter control over spending and decision-making. For operators, this suggests fewer expansion moves and more focus on stabilising the business. Suppliers should expect closer scrutiny of contracts and slower approvals. DigiPlus building a position adds pressure, as it could push IEC toward a model that links land-based assets with online distribution.
