The victims were cruising Baclaran street here on board an owner-type jeep and were on their way to Barangay Mamatid supposedly to set up baklay operations there when they were waylaid, authorities said.
Killed were Herbert Marqueses, 18, who was driving the jeep, and Raul Alviar, who was seated at the back. Wounded were Marqueses uncle Juan, 54, and Reynan Lapinid, 25.
Probers still have no clues on the killing, but they found a set of Spanish cards and other paraphernalia inside a small bag.
The victims were reportedly invited to set up baklay operations in Barangay Mamatid to raise funds for the burial of a villager.
But retired police lieutenant Leodegario Alviar denied that his son Raul was involved in baklay operations, saying the latter just hitched for a ride.
Senior Superintendent Eduar-do Desquitado, Cabuyao police chief, said probers were looking into all angles into the ambush-slaying, including robbery and a "double-cross" in illegal gambling operations.