PAGCOR closes Casino Filipino Talisay, plans Tagum shutdown

The Philippine Amusement and Gaming Corp. (PAGCOR) has shut down its Casino Filipino branch in Talisay, Cebu, and is set to close another in Tagum, Davao del Norte, as part of its ongoing rationalization plan.

Both sites have been operating at a loss for years, with Casino Filipino Talisay posting a P49.56-million net loss in 2024 and Casino Filipino Tagum recording a P36.93-million net loss.

“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” PAGCOR Chairman and CEO Alejandro Tengco said in a Monday statement.

He assured that affected employees would receive support through reassignment and assistance programs. 

The 42 Talisay employees will be transferred to Casino Filipino Cebu, while the 33 Tagum employees will be deployed to Casino Filipino Grand Regal in Davao.

“Our Human Resources 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.

PAGCOR announced in 2023 its plan to privatize state-run casinos and shift to a purely regulatory role. The agency expects to generate P60 to P80 billion from the initiative. 

It aims to fully exit casino operations within five years, during which it anticipates the opening of one integrated resort per year.

Despite the closures, PAGCOR reported a record P112 billion in revenues for 2024, marking a 41% increase, while net income surged 51% to P84.87 billion. — DVM, GMA Integrated News