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Financial losses force Pagcor to close Casino Philippine Talisay and Tagum

Financial losses force Pagcor to close Casino Philippine Talisay and Tagum

The Filipino Amusement and Gaming Corp. (Pagcor) closes due to financial losses as part of their ongoing rationalization plan, two Casino Filipino branches in Talisay, Cebu and Tagum, Davao del Norte.

Pagcor Chairman and Chief Executive Officer Alejandro Tengco said in a statement that both places were exposed to financial struggles, which was no longer feasible due to continuing financial burden.

In 2023 Casino Philippino Talisay, which was operated by Casino Philippino Cebu, net loss of $ 39.32 million was created in 2023, which deteriorated to $ 49.56 million in 2024.

On the other hand, Casino Filipino Tagum, which was operated by Casino Philippino Grand Regal, suffered a net loss of 31.56 million ₱ in 2023, which escalated to $ 36.93 million in 2024.

Despite the closures, Tengco said that no employees were sold.

The 42 employees from Casino Philippino Talisay are transferred to various branches under the Casino Filipino Cebu, while the 33 Casino Filipino Tagum employees are used in various locations under the Casino Filipino Grand Regal.

Tengco added that securing the well -being of the employees concerned had a top priority through work instructions and support programs.

He also said that the personnel and development group is actively working with the employees concerned in order to facilitate a smooth transition and ensure that every person receives instructions and support in their re-assignment.