{"id":8590,"date":"2025-02-03T12:04:37","date_gmt":"2025-02-03T12:04:37","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/02\/03\/pagcor-closes-two-casino-filipino-sites-due-to-financial-struggles\/"},"modified":"2025-02-03T12:04:37","modified_gmt":"2025-02-03T12:04:37","slug":"pagcor-closes-two-casino-filipino-sites-due-to-financial-struggles","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/02\/03\/pagcor-closes-two-casino-filipino-sites-due-to-financial-struggles\/","title":{"rendered":"Pagcor Closes Two Casino Filipino Sites Due to Financial Struggles"},"content":{"rendered":"<div>\n<p>Citing ongoing financial losses, the Philippine Amusement and Gaming Corp (Pagcor) has closed its Casino Filipino location in Talisay, Cebu. The closure is part of Pagcor\u2019s broader rationalization strategy aimed at optimizing its land-based gaming operations. Furthermore, another Casino Filipino location in Tagum, Davao del Norte, would shortly stop operations, the gaming authority revealed.<\/p>\n<p>The action is in line with Pagcor\u2019s continuous efforts to update gaming equipment at certain locations in preparation for the anticipated sale of assets that are profitable to private investors. Alejandro Tengco, the chairman and CEO of Pagcor, stressed that these sites had been losing money for years, making it unfeasible to continue operating them.<\/p>\n<p><em>\u201cGiven the sustained financial strain, continuing operations at these sites is no longer feasible,\u201d<\/em> Tengco stated.<\/p>\n<h2><strong>Mounting Losses and Employee Reallocation<\/strong><\/h2>\n<p>Casino Filipino Talisay, which operated under Casino Filipino Cebu, reported a net loss of PHP39.32 million (US$670,932) in 2023. The financial downturn worsened in 2024, with losses reaching PHP49.56 million. Similarly, Casino Filipino Tagum, managed by Casino Filipino Grand Regal, saw a net loss of PHP31.56 million in 2023, which escalated to PHP36.93 million in 2024.<\/p>\n<p>Despite the closures, all 75 affected employees will retain their jobs. Tengco assured that staff members will be reassigned to other Pagcor sites.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"7Bit Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/7BitCasino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"7Bit Casino\" target=\"_blank\" rel=\"nofollow\">7Bit Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>177% up to 5BTC + 77 <strong>\u00a0Free Spins<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em>\u201cWhile our decision was driven by mounting financial losses, safeguarding the welfare of affected employees through job reassignment and comprehensive support programmes is our top priority,\u201d<\/em> Tengco said.<\/p>\n<p>The 42 employees from Casino Filipino Talisay will be relocated to branches under Casino Filipino Cebu, while the 33 employees from Casino Filipino Tagum will be assigned to other Casino Filipino Grand Regal locations in Davao. Pagcor\u2019s Human Resource and Development Group is facilitating the transition to ensure employees receive proper support.<\/p>\n<p>Pagcor has been preparing to privatize its land-based casino operations, with Tengco previously estimating that the sale could generate PHP50 billion. However, the privatization process may not begin until 2026 due to required changes in Pagcor\u2019s charter.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/pagcor-closes-two-casino-filipino-sites-due-to-financial-struggles\/\">Pagcor Closes Two Casino Filipino Sites Due to Financial Struggles<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Citing ongoing financial losses, the Philippine Amusement and Gaming Corp (Pagcor) has closed its Casino Filipino location in Talisay, Cebu. The closure is part of Pagcor\u2019s broader rationalization strategy aimed at optimizing its land-based gaming operations. Furthermore, another Casino Filipino location in Tagum, Davao del Norte, would shortly stop operations, the gaming authority revealed. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8590","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8590"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8590\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}