You can bet on this.
“The Philippine Amusement and Gaming Corp. (Pagcor) is set to close down Airport Casino Filipino this July, one of the biggest casinos it operates, because it has started to incur losses,” reports Michelle V. Remo in the Philippine Daily Inquirer.
According to Pagcor chair and chief executive officer Cristino Naguiat Jr., generates an average of PHP180 million in gross revenues a month. Half of its earnings automatically goes to the national treasury as dividends of the national government.
However, the remaining PHP90 million was not enough to pay for the casino’s expenses. The casino—which is located near Ninoy Aquino International Airport in Parañaque City—already paid a PHP23 million monthly rental for its location.
In a Tuesday, Feb 25, interview, Naguiat told reporters, “As much as possible we don’t want to close down any casino, but the decision depends on the viability of a casino.”
