Thailand's Collapse and Genting's US Pivot Just Shrank the List of Alternatives to the Philippines

PAGCOR's revenue is down 27%. Net income is down 85%. Read those numbers on their own and the market looks like it's shrinking, full stop. Read them next to Thailand's collapsed casino bill and Genting Malaysia's earnings pivot toward the US, and a different picture forms: the Philippines' position relative to the rest of the region got stronger at the exact moment its own numbers got worse. Here's the argument, including the objection that almost breaks it.

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