The casino industry in the Philippines could be confronting a difficult time in the near future as new players come and plan to emerge.
The New World Manilla Bay Casino and Hotel is trying to upgrade into a completely integrated Resort. Westside City will eventually finish development. The Waterfront Philippines has won achieved a long and tough court battle to overtake their own objectives. That all sums up to a mass crowded Entertainment venue.
Measurement of the Condition
It is difficult to measure the mass demand of that industry now. A COL Financial analyst Richard Laneda said that they had been in extremely difficult condition. He also added that they did not know the possibility of these newly built resorts and their sizes. However, he has faith in the short term that it will boost up competition in the regions and will motion some market shares to share to get taken from remaining IR. It will also propel the industry to some margin decays. However, history presents that new integrated resorts are quite able to sprout and develop the pie over a long period of time.
It is also not the end of it. A moratorium on licenses of the new casino was kept in its place in 2017 which is timed to get expired in 2022. While many people were expecting the event to happen so the industry could verily get exploded or ger saturated, President Rodrigo Duterte initiated marking in 2019 which might be open to additional casinos already.
Considering COVID-19 being a part of life, experts should suggest a totally different take and approach if the latest properties emphasize being open for a short time. Gaming Concepts Group’s CEO Scott Feeney said that they were strongly praying for a much more polished gaming floor providing the focus on people and premium people, like the city, Macau was doing new sportsbooks and showy stage shows, and a plethora of betting floor F&B platforms.
