
Casino Filipino has closed one of its gambling facilities and outlined plans to shutter another after suffering “significant losses” over the last two years.
The two Casino Filipino venues are closing as part of the Philippine Amusement and Gaming Corporation’s (PAGCOR) ongoing rationalisation plan.
PAGCOR said its Talisay, Cebu site has closed after losing almost PHP90m (US$1.5m) in the last two years. Meanwhile, Casino Filipino Grand Regal in Tagum, Davao del Norte is also to close after losing almost PHP70m over the same period.
The move comes amid a drop in revenue across the more than 40 Casino Filipino gaming venues. Casino Filipino takings dipped 16.2% to PHP12.67bn in 2024, despite PAGCOR posting record revenue of PHP112bn. That 41% increase was driven by a surge in online gaming.
PAGCOR said there would be no redundancies, with more than 70 employees to be moved to other gaming sites.
PAGCOR chairman and chief executive Alejandro Tengco said: “Given the sustained financial strain, continuing operations at these sites is no longer feasible.
“While our decision was driven by mounting financial losses, safeguarding the welfare of affected employees through job reassignment and comprehensive support programs is our top priority.”
The 42 employees from Casino Filipino Talisay will be transferred to various branches under Casino Filipino Cebu. The 33 employees from Casino Filipino Tagum will be deployed to different sites under the 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.