top of page

PAGCOR Closes Losing Casino Site; Workers Reassigned To Mother Units

Writer's picture: By The Financial DistrictBy The Financial District

The Philippine Amusement and Gaming Corporation (PAGCOR) announced today the closure of a loss-making Casino Filipino site in Talisay, Cebu, as part of its ongoing rationalization plan.


Casino Filipino Talisay, operated by Casino Filipino Cebu, recorded a net loss of ₱39.32 million in 2023. I Photo: Casino Filipino TALISAY



Another site in Tagum, Davao del Norte, is also set to close soon. Employees from both venues will be reassigned to their mother units and other PAGCOR gaming sites, ensuring continued employment.


PAGCOR Chairman and CEO Alejandro Tengco stated that both gaming venues have been incurring significant financial losses over the past years.



“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” Tengco said.


Casino Filipino Talisay, operated by Casino Filipino Cebu, recorded a net loss of ₱39.32 million in 2023, which worsened to ₱49.56 million in 2024. Similarly, Casino Filipino Tagum, operated by Casino Filipino Grand Regal, suffered a ₱31.56 million net loss in 2023, increasing to ₱36.93 million in 2024.



Despite the closures, Tengco assured that no employees would be displaced.


“While this decision was driven by mounting financial losses, our top priority remains safeguarding the welfare of affected employees through job reassignment and comprehensive support programs,” he emphasized.



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 redeployed to different sites under Casino Filipino Grand Regal in Davao.


“Our Human Resource and Development Group is actively coordinating with affected employees to ensure a smooth transition, providing guidance and assistance throughout their reassignment,” Tengco added.




Comments


Register for News Alerts

  • LinkedIn
  • Instagram
  • X
  • YouTube

Thank you for Subscribing

TFD [LOGO] (10).png

WHERE BUSINESS CLICKS

TFD [LOGO].png

The Financial District®  2023

bottom of page