The pandemic has swept the world like no one could have imagined in the year of 2020. This global crisis has put many businesses to an abrupt halt in Q1 and forced companies to develop new business models for survival.
Working from home has created not only new ways of business interaction but also new demands for digital and virtual technologies. Although companies around the world first experienced a sudden slump when the lockdown was first in practice, it is surprising to see how fast people are adapting to the new situation and shifting from face-to-face interaction to online communication.
This has created a new form of zero-touch economy, in which the integration of virtual technology and digital innovation will play an even more crucial part in defining a company’s sustainability and success. BBIN believes the digital zero-distance innovation will keep booming faster than ever and continues to offset the impact of the pandemic.
Asia, being the first region to battle with the COVID19 challenge, is now moving to a relatively stable stage of living with the new normal even though travel restrictions and social distancing protocols are still in practice.
For the year of 2021, we expect that Asia’s gaming industry will continue to see the recovery of the domestic market, while the missing piece of the international market is still highly dependent on whether the borders will be opened in 2021.
Moreover, as sports events are gradually back to the field, BBIN looks forward to seeing the sports fans rejoining these events and hopes that the sports betting market will bounce back soon.
Finally, as the Philippines regulator PAGCOR recently greenlighted casinos to offer online betting, it is worth observing if the attitude towards online bets is gradually changing under the financial pressure caused by the pandemic. Let’s keep a close eye and see if it is just a transitional policy or the first step of opening up the iGaming market.
The experience of living in lockdown with the social-distancing protocols has changed how people communicate, interact, do business, literally every aspect of our lives. With the vaccine coming on the way, we are getting a step closer to recovery.
During this difficult time that we all need to face the challenge together, it also creates a moment for us to bond closer with our family, the community, and rethink about the balance between economic growth and sustainable development.
We have seen many recent events in the industry, including new awards and other CSR programs trying to bring more awareness of sustainability and highlight more on community engagement.
Likewise, BBIN has been working to achieve the goal of a balanced and sustainable future through TGB Charity’s nonprofit campaigns. The sudden blow from the pandemic also prompted BBIN to delve deeper into the relevant issues and engage more in these charitable activities. We believe changes bring growth, and all these endeavors will make the whole world different from what we had before the COVID19 pandemic.
At this critical juncture, BBIN keeps the agility and adaptability of responding to the ever-changing situation and hopes to hit the road of steady and sustainable growth in the year 2021.