Good morning. Measure twice, cut once. Waterfront Manila Hotel & Casino’s comeback has hit another wall, with operator Acesite suspending reconstruction as costs climb to $58.5 million and tourism demand still looks too thin to carry the project. The company now sees 2028 as the earliest restart, after shelving a previous 2026 soft-opening target and warning that Manila gaming is stuck on a “serious plateau.” Meanwhile, Light & Wonder says its own numbers finally add up, with chairman Jamie Odell touting a “leaner, stronger” company after five years of restructuring.
What you need to know
- Waterfront Manila Hotel reconstruction on hold as operator adopts cautious stance amid rising costs and uncertain tourism recovery.
- Light & Wonder says a five-year overhaul has made it leaner and stronger, while defending the ASX as its long-term home.
On the radar
- NagaCorp proposes a 10-year share option scheme for directors, staff.
- FBI says Cambodia provided key access in online scam compound probes.
- POGO-linked Alice Guo charged over $16.3M estimated tax deficiency.
- Prediction market wagers on World Cup cross $2B on leading platforms.
AGB Intelligence
PHILIPPINES
Waterfront Manila rebuild suspended on rising costs
Reconstruction of the Waterfront Manila Hotel & Casino has been put on hold, with the operator, Acesite, citing sharply higher costs and uncertain tourism demand. The revised budget has reached $58.5 million, compared with $24.4 million in insurance funding. The company said weak room sales, slower tourism recovery and pressure on Manila’s gaming market made further investment difficult, pushing any restart to 2028 at the earliest.
Industry Updates
- Renato Ascoli to step down as CEO of Brightstar’s Global Lottery.
- Zitro strengthens LatAm presence with Colombia debut of FANTASY cabinet.
- Prediction Markets for iGaming: SOFTSWISS announces live industry panel.
Corporate Spotlight
How Crypto Adoption in Asia is Changing iGaming Payments
Yevhen Krazhan, CSO at GR8 Tech, explores how surging crypto adoption across Asia is revolutionizing iGaming payments, stating: “When I look at what’s changing fastest in Asia, it’s payment behavior,” as wallets, stablecoins, and seamless cross-border transfers become deeply ingrained in player habits. The winning operators will be those that offer fast, reliable, and local deposits and withdrawals. To make sense of it, Yevhen breaks Asia into two crypto realities.
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