Pacific Online Systems Corp. and its principal, the state-owned Philippine Charity Sweepstakes Office, have agreed to a one-year trial run for a web-based application betting platform as more gamblers go digital.
With the WABP, the PCSO develops and promotes more marketable, resilient and trendy betting platforms that takes into account changes in the gaming market and the advancements in technology. “The MOA will cover a trial period for the WABP for one year, subject to renewal, during which Pacific Online will be acting as PCSO’s exclusive agent and generating gross revenue equivalent to 14 percent of PCSO’s gross sales generated using the WABP,” it said.
Pacific Online, a subsidiary of the SM Group-led Belle Corp., is engaged in the development and management of online computer systems, terminals and software for the local lottery industry.
It provides technical and market expertise in the distribution of lottery products in partnership with state-run PCSO.
Since 1995, Pacific Online has been leasing its online lottery systems in the Visayas and Mindanao to the PCSO. Its direct subsidiaries include Loto Pacific Leisure Corp. which acquires, owns, leases, sells, operates and manages amusement, recreational, and gaming equipment facilities.
It also owns Total Gaming Technologies Inc., which leases Keno lottery system and equipment to PCSO nationwide until 2022.
Pacific Online’s net income tripled in the six months of the year to P145.5 million from last year’s P48.8 million. Revenue rose 57 percent to P343.4 million from last year’s P218.9 million due to the increase in lotto sales traced the more open economy in 2023, the high jackpot prizes of lotto games and the increase in the number of selling terminals, especially in Luzon.
“In addition to this, the company was also able to recognize and collect rent deficiency claims from its Keno operations,” the business said.
