Vicious competition in the gaming industry in the Philippines is terrible
Before the new crown pneumonia epidemic, the Philippines was one of the fastest-growing gaming markets. Just in 2019, the local gaming revenue increased by 15.4% to nearly US$4.28 billion. However, just before the global pandemic of the new crown pneumonia, the life of the gaming industry in the Philippines was not what it used to be. Many gaming operators complained of increased competition and reduced profits. At present, due to the raging new crown pneumonia, the country has been closed down and tourists have been drastically reduced, making the Philippines' gaming prospects unclear.
As early as 2008, the Philippine Waterfront Hotel applied to the Supreme Court, hoping that PAGCOR would issue a license for its proposed development project, but was detained for a long time. However, in November last year, the Philippine Waterfront Hotel stated that they had won the Supreme Court lawsuit. However, due to the impact of the epidemic, the revenue of the gaming industry is not expected to return to the previous level in the second half of 2022 at the earliest, making people very worried about the prospects of the gaming market. CLICK FOR 【Best online betting platform in the Philippines】