1 month ago
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CEBU CITY — The Philippine Amusement and Gaming Corp. (Pagcor) has closed down Casino Filipino Talisay in Barangay Linao due to consecutive years of financial losses.
Pagcor Chairman and CEO Alejandro Tengco announced the closure on Monday as part of efforts to address the sustained financial strain. Another branch in Tagum City, Davao del Norte, will also cease operations for the same reason.
"Given the sustained financial strain, continuing operations at these sites is no longer feasible," Tengco said.
Financial data from Pagcor showed that Casino Filipino Talisay incurred P39.3 million in net losses in 2023, which worsened to P49.6 million in 2024.
Additionally, in Tagum City, their branch reported P32 million in net losses in 2023, increasing to P37 million in 2024.
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Despite the shutdowns, Tengco assured that all affected employees would retain their jobs through reassignment to other Casino Filipino locations.
The 42 employees from Talisay will be transferred to different branches under Casino Filipino Cebu, while the 33 workers from Tagum will be relocated to sites under Casino Filipino Grand Regal in Davao.
"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 said.
