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The Philippine Amusement and Gaming Corporation (PAGCOR) has announced the closure of Casino Filipino Talisay in Cebu and Casino Filipino Tagum in Davao del Norte as part of its ongoing rationalization plan.
Despite the shutdown, no employees will be displaced, as all affected staff will be reassigned to other PAGCOR-operated gaming sites.
Significant Financial Losses Lead to Closure
According to PAGCOR Chairman and CEO Alejandro Tengco, both venues have suffered significant financial losses in recent years, making their continued operation unsustainable.
“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” Tengco stated.
Reports indicate that:
- Casino Filipino Talisay, operated under Casino Filipino Cebu, recorded a Php39.32 million net loss in 2023, which further escalated to Php49.56 million in 2024.
- Casino Filipino Tagum, under Casino Filipino Grand Regal, also incurred substantial losses, from Php31.56 million in 2023 to Php36.93 million in 2024.
Employee Reassignments and Support Programs
Despite the closures, PAGCOR is prioritizing employee welfare by ensuring seamless job transitions.
“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,” Tengco emphasized.
- 42 employees from Casino Filipino Talisay will be reassigned to various branches under Casino Filipino Cebu.
- 33 employees from Casino Filipino Tagum will be transferred to other gaming sites under Casino Filipino Grand Regal in Davao.
The PAGCOR Human Resource and Development Group is actively assisting affected employees, ensuring a smooth transition and proper support throughout the reassignment process.
“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 added.
Key Insights & Potential Implications
- PAGCOR’s Strategic Shift
- The closure highlights PAGCOR’s efforts to optimize resources and focus on profitable operations, aligning with its broader rationalization strategy.
- Strengthening Other Casino Filipino Locations
- The redistribution of employees suggests that PAGCOR is reinforcing its stronger-performing sites, which may lead to improved efficiency.
- The Future of PAGCOR-Run Casinos
- If losses persist across other venues, further closures or strategic shifts may be expected in the future. This underscores the importance of innovation and market adaptation in the gaming sector.
Cee Jay Monteverde is a seasoned iGaming analyst, content strategist, and digital marketing expert with extensive experience in the online casino and betting industry. With a strong background in SEO-driven content creation, market research, and player engagement, Cee Jay has been helping players navigate the best online casinos, bonuses, and gaming platforms across the Philippines, Vietnam, and Bangladesh.
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