State-run Philippine Amusement and Gaming Corp. (PAGCOR) said Tuesday it shut down the losing Casino Filipino site in Talisay, Cebu.
Another site in Tagum, Davao del Norte would also be closed as part of the agency’s ongoing rationalization plan, it said.
Employees of both venues will be returned to their mother units and other PAGCOR gaming sites and will continue working.
PAGCOR chairman and chief executive Alejandro Tengco said both gaming venues were incurring significant losses over the past years.
“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” he said.
Casino Filipino Talisay, operated by Casino Filipino Cebu, incurred a net loss of P39.32 million in 2023. The bleeding worsened in 2024, with P49.56 million in net loss.
Casino Filipino Tagum, operated by Casino Filipino Grand Regal, suffered a P31.56-million net loss in 2023, which ballooned to P36.93 million in 2024.
Tengco said despite the operational shutdown of both venues, no employee would be displaced.
“While our decision was driven by mounting financial losses, safeguarding the welfare of affected employees through job reassignment and comprehensive support programs is our top priority,” he said.
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,” Tengco said.
