{"id":777047309,"date":"2026-09-14T10:24:31","date_gmt":"2026-09-14T13:24:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777047309"},"modified":"2026-09-14T10:48:21","modified_gmt":"2026-09-14T13:48:21","slug":"acesite-holds-off-waterfront-manila-casino-reconstruction-amid-market-pressures","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/acesite-holds-off-waterfront-manila-casino-reconstruction-amid-market-pressures","title":{"rendered":"Acesite holds off Waterfront Manila Casino reconstruction amid market pressures"},"content":{"rendered":"\n

The company said the project remains suspended amid weaker gaming conditions and higher costs.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Acesite (Phils.) Hotel Corporation<\/strong> has says work on the Waterfront Manila Hotel and Casino<\/strong> reconstruction will remain suspended. It cited weak land-based gaming demand from China, online competition and higher oil prices due to the US intervention in Iran.<\/p>\n\n\n\n

Acesite had planned to complete the first phase of the redevelopment this year, followed by a second phase in 2027. However, it said in a September 11 disclosure to the Philippine Stock Exchange (PSE)<\/strong> that work remains on hold as it waits for improved tourist arrivals and a more favourable business environment to justify further capital spending. The company is now looking towards 2028<\/p>\n\n\n\n

The Waterfront Manila property, formerly the Manila Pavilion Hotel<\/strong>, was severely damaged by a fire in March 2018 that claimed the lives of six Philippine Amusement and Gaming Corporation (PAGCOR) employees. While reconstruction remains suspended, Acesite said management will continue maintenance work to keep the hotel\u2019s existing superstructure in good condition. <\/p>\n\n\n\n

The latest update follows Acesite\u2019s June disclosure<\/a> that the estimated reconstruction cost had risen to about PHP3.6bn (US$58.7m), compared with around PHP1.5bn in insurance proceeds originally available for the project. <\/p>\n\n\n\n

<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Universal Entertainment plans return to overseas gaming equipment market<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The company said the project remains suspended amid weaker gaming conditions and higher costs.<\/p>\n","protected":false},"author":2395,"featured_media":777047058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Acesite (Phils.) Hotel Corporation has indefinitely suspended the reconstruction of the Waterfront Manila Hotel and Casino, citing deteriorating land-based gaming market conditions, increased online competition, and significantly higher capital expenditure requirements. The project, initially phased for completion by 2027, is now deferred to 2028, awaiting improved tourist arrivals and a more favorable business environment. This decision reflects the challenges faced by integrated resort developments amidst evolving market dynamics and inflationary pressures.","focusai_entities":"Acesite (Phils.) Hotel Corporation, Waterfront Manila Hotel and Casino, Philippine Stock Exchange, Philippine Amusement and Gaming Corporation, Universal Entertainment","focusai_location":"Philippines, Manila, China, United States, Iran","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Acesite Project Viability?","query":"What specific financial and market performance metrics would Acesite (Phils.) Hotel Corporation require to justify recommencing the Waterfront Manila Hotel and Casino reconstruction, and what is the projected impact of online gaming competition on the long-term viability of land-based integrated resorts in the Philippines?"},{"label":"Regional Gaming Outlook?","query":"How do the cited \"weaker gaming conditions\" in the Philippines, particularly concerning demand from China and online competition, reflect broader trends in the APAC land-based casino market, and what are the implications for other regional integrated resort developments?"}],"footnotes":""},"categories":[157,16338],"tags":[29,405,128],"class_list":["post-777047309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-casino","tag-pagcor","tag-philippines"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777047309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2395"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777047309"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777047309\/revisions"}],"predecessor-version":[{"id":777047326,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777047309\/revisions\/777047326"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777047058"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777047309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777047309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777047309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}