It was posted yesterday that a newly elected Congressman from an island province defended on line gaming and its ban could mean loss of revenue for the govt and loss of job.
Maybe its no longer a question of good or bad economics but bad morality, and ill effect on society.
As a businessman, I have been against gambling. It is a zero sum game. It does nto create anything new - there are losers and winners. A good business creates value like agriculture, manufacturing, schools, but not Casinos. They can take your money away and can improverish you. You cant win vs a casino but the lure of free shuttle, free hotel for the high rollers always draws in crowds. Its a big business that is why most tycoons are into it: Razon, Tan etc. Even VC bet big in gambling; casinos. Even the biggest controversy now E sabong and mainiyope debts show ill effects of gambling.
Phil is now the number 1 gaming center in South East Asia, beating even Macau. And so many on line gambling what with POGOS converging in the Philippines.
It may be good for investors, tycoons, but definitely not for the lives of many. Owners of casinos and on line gambling rake it but not the msses
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