Waterfront Manila Hotel & Casino reopening delayed indefinitely
The return of the Manila gaming and hospitality property has been put on hold amid rising reconstruction costs surge and weak tourism forecasts.
The Philippines.- The redevelopment and reopening of Waterfront Manila Hotel & Casino has been postponed indefinitely. Operator Acesite (Phils.) Hotel Corporation has decided to suspend the project plans due to escalating costs and uncertainty surrounding the Philippine tourism and gaming sectors.
The property, formerly the Manila Pavilion Hotel, has remained closed since a fire in March 2018 in which six employees of the Philippine Amusement and Gaming Corporation (PAGCOR) died. Reconstruction work began in 2019 funded with PHP1.5bn (US$24m) from insurance claims. The company had targeted a phased reopening from the first quarter of 2026, with full operations to be running by early 2027.
Acesite has shelved those plans after redevelopment costs more than doubled to an estimated PHP3.6bn (US$58m). The company attributed the increase to higher material and labour expenses, rising fuel prices and additional structural and design requirements identified during the rebuilding process. The company also pointed to concerns about the business environment amid slower-than-expected international tourism.
The company also highlighted changing dynamics within Manila’s gaming sector, noting that the rapid expansion of igaming has contributed to a slowdown in land-based casino growth. As a result, management has opted to take a more cautious approach before committing additional capital to the project with construction unlikely to restart before 2028. The company plans to allocate an annual maintenance budget to ensure the existing structure remains safe and operationally viable.
