Philippines gaming regulator PAGCOR will lay off 665 workers from its casino at Malate’s New Coast Hotel Manila when it hands over control to the hotel’s owner, Hong Kong-listed International Entertainment Corp (IEC), next month.

According to a report by the Inquirer, the affected workers were informed of the layoffs during a town hall meeting in December led by PAGCOR Chairman and CEO Alejandro Tengco, with some having received severance pay in recent days. It is unclear whether any of the employees will be employed directly by IEC in the future.

The layoffs have raised concerns over the potential termination of more current PAGCOR employees when the agency starts privatizing its 43 casinos in the next few years.