Acesite puts Waterfront Manila casino redevelopment on indefinite hold
Acesite (Phils) Hotel Corporation has indefinitely paused redevelopment and reopening plans for Waterfront Manila Hotel & Casino, citing higher costs and a weak gaming and tourism market. In a filing, the company put redevelopment costs at Php3.6 billion, up from Php1.5 billion initially covered by insurance, and said construction was unlikely to resume before 2028.
The pause delays the casino’s planned return and leaves suppliers and investors facing an uncertain construction timetable.