Philippine gaming regulator PAGCOR said Monday it has shuttered one of its self-run Casino Filipino sites in Cebu, and plans to close a second in Davao, due to losing performance.
The closures are part of the agency’s revitalization plans under which it is upgrading most Casino Filipino properties nationwide in order to enhance their value ahead of privatization.
The shuttered property in Talisay, Cebu –operated by Casino Filipino Cebu – incurred net losses of Php39.32 million in 2023, rising to Php49.6 million in 2024, PAGCOR explained.
Casino Filipino Tagum, operated by Casino Filipino Grand Regal, will be closed in the near future after suffering losses of Php31.6 million in 2023 and Php36.9 million in 2024.
“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” said PAGCOR Chairman and CEO Alejandro Tengco, although he noted that no employees 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.
According to PAGCOR, 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.
The regulator’s revitalization efforts have included the replacement of thousands of aging slot machines, with a bulk order of 1,968 new slots having been delivered late last year. PAGCOR has stated its intention to become a pure regulator by 2028.
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