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Manila Bulletin devider Business devider Financial losses force Pagcor to close Casino Filipino Talisay and Tagum

Financial losses force Pagcor to close Casino Filipino Talisay and Tagum

Published Feb 3, 2025 11:32 am

The Philippine Amusement and Gaming Corp. (Pagcor) is closing two Casino Filipino branches in Talisay, Cebu, and Tagum, Davao del Norte, due to financial losses, as part of its ongoing rationalization plan.

Pagcor Chairman and Chief Executive Officer Alejandro Tengco said in a statement that both venues faced financial struggles, making continued operations no longer feasible due to sustained financial strain.

For intance, Casino Filipino Talisay, operated by Casino Filipino Cebu, incurred net losses of ₱39.32 million in 2023, which worsened to ₱49.56 million in 2024.

On the other hand, Casino Filipino Tagum, operated by Casino Filipino Grand Regal, suffered a ₱31.56 million net loss in 2023, escalating to ₱36.93 million in 2024.

Despite the closures, Tengco said no employees will be displaced.

The 42 employees from Casino Filipino Talisay will be transferred to various branches under Casino Filipino Cebu, while the 33 employees from Casino Filipino Tagum will be deployed to different sites under the Casino Filipino Grand Regal in Davao.

Tengco added that safeguarding the welfare of affected employees through job reassignment and support programs is a top priority.

He further said that the Human Resource and Development Group is actively working with affected employees to facilitate a smooth transition, ensuring each individual receives guidance and assistance in their reassignment.

Related Tags

Pagcor chair and CEO Philippine Amusement and Gaming Corp. 6th International Rice Congress Alejandro H. Tengco
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