More than 60% of licensed gaming system administrators in the Philippines fell short of PAGCOR's new revenue floor based on second-quarter run rates, according to Arden Consult. The gap is pushing smaller operators toward recapitalization, consolidation or market exit.
With new applications frozen, existing accreditations are now being offered for between $3 million and $15 million.
In Macau, Sands is prioritizing market leadership and longer-term EBITDA growth over near-term returns, with no plans to reduce customer reinvestment for now. Melco is cutting costs across its portfolio to absorb REM Hotel expenses and keep its operating base stable.
