The Philippine Amusement and Gaming Corp (Pagcor) said in a Monday statement it had closed what it termed a “losing” site in Cebu, part of the state-owned Casino Filipino land-based gaming venues. The site affected is in Talisay, Cebu.
The gaming regulator said another Casino Filipino location – at Tagum, Davao del Norte – would “likewise be shuttered as part of the agency’s ongoing rationalisation plan”.
Pagcor has been undergoing a programme to modernise some Casino Filipino gaming equipment, ahead of an intended sell-off to private-sector investors of commercially-viable sites.
Pagcor stated the 75 workers across the two sites to be shuttered would be “returned to their mother units and other Pagcor gaming sites and will continue working”.
Pagcor chairman and chief executive Alejandro Tengco was cited saying both gaming venues had been incurring significant losses over past years.
“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” the Pagcor boss stated.
Casino Filipino Talisay, operated by Casino Filipino Cebu, incurred a net loss of PHP39.32 million (US$670,932) in 2023, according to Pagcor.
The regulator added that what it described as “the bleeding” had “worsened” in 2024, with a PHP49.56-million loss.
The update said Casino Filipino Tagum, operated by Casino Filipino Grand Regal, had a PHP31.56-million net loss in 2023, with the annual loss growing to PHP36.93 million in 2024.
Despite the operational shutdown of both venues, no employee will be displaced, Mr Tengco was cited as indicating.
He said: “While our decision was driven by mounting financial losses, safeguarding the welfare of affected employees through job reassignment and comprehensive support programmes is our top priority.”
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.
“Our Human Resource and Development Group is actively working with affected employees to facilitate a smooth transition, ensuring that each individual receives guidance and assistance in their reassignment,” Mr Tengco said.
In September, Mr Tengco mentioned that PHP50 billion might be raised from disposing of the land operation, and that the process might only start in 2026, due to changes being required to Pagcor’s charter.
