The Philippine Amusement and Gaming Corporation (PAGCOR) has decided to close two of its Casino Filipino gaming sites due to persistent financial losses. The closures are part of the agency’s ongoing rationalization strategy and efforts to streamline its operations. According to PAGCOR, the Casino Filipino Talisay in Cebu and Casino Filipino Tagum in Davao del Norte have been underperforming for several years, prompting the decision to shut them down.

Closure of underperforming Casino Filipino venues:

The Casino Filipino Talisay, located in Cebu and operated by Casino Filipino Cebu, has seen its financial situation worsen over time. In 2023, the venue posted a net loss of PHP 39.32 million, which escalated to PHP 49.56 million in 2024. Likewise, Casino Filipino Tagum, operated by Casino Filipino Grand Regal in Davao del Norte, recorded a PHP 31.56 million loss in 2023, which deepened to PHP 36.93 million in 2024. PAGCOR Chairman and CEO Alejandro Tengco confirmed that the financial performance of these locations had been unsustainable, leading to their closure.

“Given the sustained financial strain, continuing operations at these sites is no longer feasible,” said Tengco in a statement. However, he emphasized that the welfare of employees affected by the closures would remain a priority.

Despite the closure of both Casino Filipino Talisay and Casino Filipino Tagum, no staff members will lose their jobs. PAGCOR has assured that the 75 employees working at both sites will be reassigned to other PAGCOR-operated gaming locations. Specifically, 42 employees from Casino Filipino Talisay will be transferred to different branches of Casino Filipino Cebu, while the 33 employees from Casino Filipino Tagum will be redeployed to other venues under Casino Filipino Grand Regal in Davao.

Tengco explained that the Human Resource and Development Group is currently coordinating with the affected workers to ensure a smooth transition. “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,” he said, as reported by PAGCOR.

PAGCOR’s strategic revitalization and privatization plans:

The decision to close these underperforming casinos is part of a broader effort by PAGCOR to revitalize its operations. This includes plans to modernize and upgrade its gaming facilities across the country in preparation for privatizing certain properties. PAGCOR has already started replacing aging gaming equipment, with the acquisition of nearly 2,000 new slot machines in 2024 as part of this modernization drive.

In the future, PAGCOR intends to focus solely on its regulatory role, with the eventual goal of privatizing several commercially viable casino sites. The government agency has indicated that this transition could generate up to PHP 50 billion. However, PAGCOR Chairman Tengco noted that the privatization process may not begin until 2026 due to necessary changes to the corporation’s charter.