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PAGCOR shuttering 2 Casino Filipino venues due to underperformance

The Philippine Amusement and Gaming Corporation (PAGCOR) is shuttering two of its self-run Casino Filipino branches as it cuts cost amongst its privatization plan.

One branch is the Talisay, Cebu operation, while the second is located in Tagum, Davao.

“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” indicated PAGCOR Chairman Alejandro H. Tengco in a statement.

Alejandro H. Tengco, Chairman of PAGCOR
Opening speech by Alejandro H. Tengco, Chairman of PAGCOR at ASEAN Gaming Summit 2024

PAGCOR indicated that the Cebu casino operation had seen losses of PHP49.56 million ($844,000) in 2024, as ‘the bleeding worsened’ from 2023’s results.

Meanwhile, the Casino Filipino Grand Regal operation saw a PHP36.93 million ($630,000) loss in 2024, up from PHP31.56 million ($538,000) in the previous year.

PAGCOR, Casino Filipino

The authorities indicate that no employees will be displaced due to the closures.

“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,” noted Tengco.

In total, there are 42 employees from Casino Filipino Talisay that will be transferred to other branches in Casino Filipino Cebu, while 33 employees of Casino Filipino Tagum will be deployed around properties in Davao.

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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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