PAGCOR closes losing casino site
Tuesday 04 de February 2025 / 12:00
⏱ 1 min read
(Cebu City).- The Philippine Amusement and Gaming Corporation (PAGCOR) today said it has closed a losing Casino Filipino site in Talisay, Cebu while another in Tagum, Davao del Norte will likewise be shuttered as part of the agency’s ongoing rationalization plan.
Employees of both venues will be returned to their mother units and other PAGCOR gaming sites and will continue working.
PAGCOR Chairman and CEO Alejandro Tengco said both gaming venues have been incurring significant losses over the past years.
“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” the PAGCOR chief said.
Casino Filipino Talisay, operated by Casino Filipino Cebu, incurred net losses of Php39.32 million in 2023. The bleeding worsened in 2024 with Php49.56 million in losses.
Casino Filipino Tagum, operated by Casino Filipino Grand Regal, on the other hand suffered a Php31.56 million net loss in 2023 which ballooned to Php36.93 million in 2024.
Despite the operational shutdown of both venues, no employee will be displaced, Mr. Tengco said.
“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,” Mr. Tengco said.
Categoría:Casino
Tags: Sin tags
País: Philippines
Región: Asia
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