Story perspectives

PAGCOR Closes Loss-Making Casinos, Reassigns 75 Employees

2/3/2025

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Summary

Story summary

PAGCOR closed its Casino Filipino branch in Talisay, Cebu, and plans to shut down the Tagum location in Davao del Norte due to financial losses.
Talisay incurred a net loss of PHP 49.56 million in 2024, while Tagum lost PHP 36.93 million.
All 75 affected employees will be reassigned to other locations, ensuring job security.
These closures align with PAGCOR's strategy to modernize operations and prepare for privatization, targeting PHP 50 billion in revenue.

History

Historical Context

PAGCOR's closure of Casino Filipino branches reflects a broader trend in Philippine gambling history. Since the 1976 establishment of PAGCOR, the industry has fluctuated with economic pressures and regulatory changes. The current financial losses echo past struggles, particularly during the 1997 Asian financial crisis, highlighting ongoing vulnerabilities in the sector.

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Story summary

PAGCOR closed its Casino Filipino branch in Talisay, Cebu, and plans to shut down the Tagum location in Davao del Norte due to financial losses.
Talisay incurred a net loss of PHP 49.56 million in 2024, while Tagum lost PHP 36.93 million.
All 75 affected employees will be reassigned to other locations, ensuring job security.
These closures align with PAGCOR's strategy to modernize operations and prepare for privatization, targeting PHP 50 billion in revenue.

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