Author - semi retired business entrepreneur leader who is now a senior citizen. Current posts are about his current business experience and learnings. A former lecturer at a top GSB in the PHL for more than a decade. We had great successful entrepreneur graduates
With so many condo towers rising, and same income levels for executives and "middle class", it is very lake that most units are not being sold. Many developers have resorted to rent to own, rental units and resort, air bnb business model
Couple this with POGO ban that has left many rental units vacant Vacancies hover at 30% which can be very bad for some businesses.
What can be done about this problem for developers?
Early on, when a fellow professor consulted us on a board game, I objected to a lotto being a part of entrepreneur journey. Being entrepreneur must not be at probability level, or a business should create value to customer or society
Gambling or lottery is a dignified Ponzi scam, You get rich at the expense of others + some profit to the operator. And just to think of social costs. Suicides, gambling addiction. Poverty to the family of the gambler. Loss of productive time Plus the attendant other vices: alcoholism, prostitution, mugging, robbery and the like
Gambling cities in US become static after sometime and not enough progress is achieved. Take Vegas or Atlantic city. They do not have the dynamism and grown of say Silicon Valley, Texas, Boston, San Francisco .
In the Philippines, casino resorts rake in billions for Pagcor, the government, and the owners. Almost every tycoons: Razon, SM, Robinson has one. Most are either at MoA or at Clark. Casinos haven
If you have billions, would you invest in casinos. ?
I just saw a TV feature on Solaire casino that has 500 hotel rooms and many gaming rooms. Manila will soon surpass Singapore as gaming center. And this seems to be a good development as it will generate jobs.
However casinos do not create value; they destroy value. Even if generates donation for the poor and for the church
What do you think?
Are in you favor of having Philippines as gaming center
