PAGCOR closes two Casino Filipino venues due to financial losses

    The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) has decided to close Casino Filipino sites in Talisay, Cebu, and in Tagum, Davao del Norte. Alejandro Tengco , PAGCOR's chairman and CEO, said the decision was taken after losses made operations “no longer feasible.”

    Casino Filipino Talisay , managed by Casino Filipino Cebu, recorded net losses of PHP39.32m (US$670,932) in 2023 and PHP49.56m (US$844,000) in 2024. Casino Filipino Tagum , operated by Casino Filipino Grand Regal, saw a net loss of PHP31.56m (US$538,000) in 2023 and PHP36.93m (US$630,000) in 2024.

    Tengco said employees will continue working at other PAGCOR gaming sites. The 42 staff members from Casino Filipino Talisay will be moved to branches within Casino Filipino Cebu, and the 33 employees from Casino Filipino Tagum will be assigned to locations under Casino Filipino Grand Regal in Davao.

    “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,” Tengco said.

    He added: “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.”

    PAGCOR CEO denies possible return of offshore gaming operators in the Philippines

    Tengco has denied claims made in letters and text messages being circulated about a possible return of offshore gaming operations in the Philippines. He said the scammers were seeking to trick would-be investors into paying for up to PHP50m, notably for attorney's fees, consultation and assessment to obtain a license.

    He said: “It has come to our attention that some people are enticing potential investors into paying huge amounts for supposedly limited slots of offshore gaming operator licenses, and saying offshore gaming operators will be prominently operating directly under PAGCOR. There is absolutely no truth to this . Offshore gaming operators remain banned, and there are no plans to bring them back, now or in the foreseeable future.

    “Should you get any text message or letter informing you that you can avail of a POGO slot, please report them immediately to PAGCOR or the police and other law enforcement agencies because these are scammers who need to be stopped.”

    He added: “We reiterate: offshore gaming operators will not reopen during the term of President Ferdinand Marcos Jr. and PAGCOR is not entertaining, and will not entertain any applications.”

    President Ferdinand R. Marcos Jr. issued Executive Order (EO) 74 banning offshore gaming in November. The move came after high-profile cases of human trafficking, money laundering and other criminal activities.