Overinvestment in Philippines’ gaming industry is likely to end up in oversupply, says Bloomberry owner Enrique Razon Jr. in an interview with Reuters on Tuesday.
Earlier this month, Pagcor said it will start privatizing more than 40 of its casinos across the country. Razon said this will inevitably lead to cannibalization risks.
“Cannibalization – it is always possible, over investment. With liquidity nowadays and (low) interest rates, people are making investments that 10 years ago (they) wouldn’t even think about, those kinds of returns.”
On the topic of acquiring Pagcor casinos, Razon said Bloomberry would be interested in acquiring the casinos, but further details were needed to understand how any sale would work.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
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Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
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