THE Philippine Amusement and Gaming Corporation (PAGCOR) on Monday announced the closure of its Casino Filipino branch in Talisay, Cebu amid significant losses.
Meanwhile, another site in Tagum, Davao del Norte will likewise be shut down as part of the agency’s ongoing rationalization plan, it said in a statement on Monday.
“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” PAGCOR Chairman and Chief Executive Officer Alejandro Tengco said in a statement.
PAGCOR said Casino Filipino Talisay, operated by Casino Filipino Cebu, posted net losses of P49.56 million last year after it lost P39.32 million in 2023.
On the other hand, P36.93 million in net loss has been recorded from the Casino Filipino Grand Regal-run Tagum location in 2024, following a P31.65-million net loss a year earlier.
Mr. Tengco said no employees will be displaced and assured that they will be transferred to different branches instead. — Aubrey Rose A. Inosante